Why are Aperture still taking my money when IVA should have finished in January?

[marcia194]

My IVA was transferred to Aperture January 2016, from ClearDebt, I am aware that it should last for around 5years, January 2019 would've been 5years, I have not missed any payments or made any agreements for it to be extended, so why are Aperture still taking money from my account? why does no one contact me to let me know what is happening? I am stopping the direct debit as I don't understand why they are still taking my money when my IVA should've ended January 2019.

[Foggy]

First -- have you contacted them ?? If there is a problem they should be told and given the chance to put it right or explain it.

Second -- are you a homeowner ? Has the equity release clause kicked in ?

If you simply stop making paments without sorting this out you could risk failing the whole arrangement. Speak to them.

[marcia194]

Thank you for your comments, I will give them a call and see what they have to say.

No I am not a home owner

[Foggy]

Another thought has occurred to me --- do you have a copy of your Chairman's Report ( the records of the initial meeting during which the IVA was accepted) ? Sometimes what is proposed as a 5 year term gets extended by creditors into a 6 year term at the start, either because the dividend is low or NRAM (Northern Rock) is a creditor. Have a look.

[kallis3]

If she's not a home owner then NRAM wouldn't be a creditor?

Agree that you should contact them asap.

[Foggy]

If she's not a home owner then NRAM wouldn't be a creditor?

Agree that you should contact them asap.

Good point Kallis. I was just expanding on reasons for the benefit of other people who might be reading the post and in a simialr situation.