Why are Aperture taking so long

Get expert opinion. This is the place for new questions to be posted.
12 posts Page 1 of 1

gareth225

User avatar
Posts: 6
Joined: Mon Feb 24, 2020 10:39 am

Post by gareth225 » Mon Feb 24, 2020 10:39 am
Hi,
I had an Iva on 1st July 2013, I had some payment extensions and because I couldn’t increase my payments in year 3 as much as they anticipated due to wife’s income going down, it was extended and I have paid 72 months worth of payments. These ended in September 2019. I have sent off documents requested and have sent around 20 contact is forms to aperture with no response.
I have tried ringing and am on hold for 30/40 minutes at a time and the messaging says they cannot do anything until 6 months after your last payment.
Three weeks ago I had a letter to ask about a remortgage (surely this should have been done way before my last payment?) mortgage review established that it couldn’t be released, so now it’s back to aperture. I have received nothing, I’ve chased with no response

Please help, I want to get on with my life . I am completely trapped by this company and IVA, having already paid 6 years worth of payments

kallis3

User avatar
Forum Expert
Posts: 75950
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Mon Feb 24, 2020 10:46 am
Unfortunately Aperture are known for dragging their heels and will go for the full six months before your closure letter arrives. Keep on at them and make a threat of a complaint - does sometimes work.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

gareth225

User avatar
Posts: 6
Joined: Mon Feb 24, 2020 10:39 am

Post by gareth225 » Mon Feb 24, 2020 11:24 am
I’m worried they are going to ask me to pay another year of IVA because I couldn’t remortgage.
My wife and I want to just get on with our lives and possibly move in the next couple of years. It’s seeming like an impossible task at the moment.
It was originally with DFD and then got switched to these and it’s just been awful

Foggy

User avatar
Forum Expert
Posts: 31255
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Mon Feb 24, 2020 12:54 pm
Was the IVA term agreed at 6 years from the start ? If so brace yourselves for another year in lieu of equity release.

Aperture are well known for lack of communication and also as the only firm that takes so long to close.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

gareth225

User avatar
Posts: 6
Joined: Mon Feb 24, 2020 10:39 am

Post by gareth225 » Mon Feb 24, 2020 1:38 pm
Hi,
No it was a standard 5 year from the offset and DFD secured a variation for another year.
I haven’t been paying into my Iva since September as it is showing as completed - but nothing taken off my credit file.

Is there anyone I can complain to about Aperture, surely there are standards they need to comply with?

Foggy

User avatar
Forum Expert
Posts: 31255
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Mon Feb 24, 2020 2:23 pm
Mon Feb 24, 2020 1:38 pmgareth225 wrote:
Hi,
No it was a standard 5 year from the offset and DFD secured a variation for another year.
I haven’t been paying into my Iva since September as it is showing as completed - but nothing taken off my credit file.

Is there anyone I can complain to about Aperture, surely there are standards they need to comply with?
What was the basis for this variation ? Was it the equity release year ( in which case Aperture cannot add it again) ?

You can complain to their regulatory body here: https://www.gov.uk/complain-about-insol ... actitioner
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

gareth225

User avatar
Posts: 6
Joined: Mon Feb 24, 2020 10:39 am

Post by gareth225 » Fri Feb 28, 2020 9:04 am
I’ve heard back from them, well I didn’t hear back from them I logged into the account and saw that they have scheduled another 12 months payment with the reference of ‘freehold land and property’ - I’m assuming this means It’s payment in lieu of a remortgage.

So I will start making these payments immediately. My new query is, does the Iva automatically close after this 12 months or do I need to try and remortgage again? Will they also take another 6 months to close the IVA down?

I’m tempted to ask family to loan me the money for a full and final settlement of the remaining 12 months to get it closed earlier? Would this work?

Foggy

User avatar
Forum Expert
Posts: 31255
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Feb 28, 2020 9:13 am
Sounds like the equity release extension --- but I am still curious as to this earlier variation which extended the IVA already ... why was this ??? If it was for equity, Aperture cannot do it again, nor, as you ask, can they repeat this exercise next year. An IVA has only one bite of the equity cherry !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

gareth225

User avatar
Posts: 6
Joined: Mon Feb 24, 2020 10:39 am

Post by gareth225 » Fri Feb 28, 2020 10:51 am
Hi, it was extended as they were expecting me to increase my payment three years in due to a car loan ending. But this coincided with my wife having a pay cut so it meant we were only able to maintain the payments we had.
They went for a variation to secure the £200 payment rather than increase to £300, so they added an extra year.

Will I need to do an I&e at the end of this year now to close. I’m hoping aperture are going to sort out closing it quickly

Foggy

User avatar
Forum Expert
Posts: 31255
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Feb 28, 2020 11:36 am
You will do an I&E at the end. They will focus more on income for those last 12 month that expenditure going forward. I am afraid Aperture are the one company whose policy seems to be to take the full 6 months for closure ! There have been one or two instances where they have closed sooner, but these seem to be less frequent than the election of a new pope !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

gareth225

User avatar
Posts: 6
Joined: Mon Feb 24, 2020 10:39 am

Post by gareth225 » Fri Feb 28, 2020 11:48 am
I’m tempted to borrow money off family to do a full and final settlement to pay off sooner, as I was hoping to move next year.

Foggy

User avatar
Forum Expert
Posts: 31255
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Feb 28, 2020 11:54 am
Fri Feb 28, 2020 11:48 amgareth225 wrote:
I’m tempted to borrow money off family to do a full and final settlement to pay off sooner, as I was hoping to move next year.
They have to 'gift' you the money, you can't borrow it (of course, if you choose to pay them back out of the goodness of your heart, after the IVA has concluded, that is your business). It takes 2 to 3 months to organise so you would have to be off the mark pretty swiftly to make it worthwhile.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
12 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”