Having run a forum myself I know how rude it is to start posting without so much as a hello, so hello everyone.
I am a farm manager and have worked on farms all my life. I have lived in some lovely locations and the houses I have resided in have always gone with the job, normally no rent or the case of my current residence only £1 a week.
Obviously the wages have been low, goes with the territory, but I love my work and see it more as a vocation than a job.
I have been lucky enough to arrive at the age of 65 in good health and have no plans to stop work. ( I'm trying not to ramble here, sorry )
A promise to a terminally ill friend, to raise her teenage son after she died led me to running up, what to me, were massive debts and in 2012 I approached Debt Free Direct for help. They sent a man round to asses my case. Every piece of relevant paper work was scattered around the floor and he made mutterings about no PPI being relevant on the Lloyds loan or credit card. He also looked at a private pension that I had taken out with Prudential during the 80's, one that I had ceased to contribute to in 1990 and said that it had no significant value on maturity, well to be honest I didn't think it had either.
Anyway, Debt Free Direct took my case on, my debts amounted .to £11,300 and I started to pay £260 a month in October 2012..
In July 2013 the child decided to leave full time education and DFD reduced my monthly payment to £156. He couldn't or didnt find work and the increased council tax made things harder and harder and I struggled.
Early in December I had a call from the Prudential regarding my pension as I was approaching pension age and was shocked at the figures being quoted, one in particular, the £9,050 lump sum, payable in February 2014.
By now I formed a relationship with a lady far more cute with money than I. She insisted I claim PPI from one of my creditors and to my total amazement they paid £1947 into my account. The letter that accompanied said this was given on condition that it was used to reduce the dedt.
I contacted DFD and sent them the entire amount in accordance with the IVA in late January this year.
So this is where the nievity comes in.
My brain tells me that Debt Free Direct have had close to, if not exceeding £5000 so when I receive a call from them on my birthday in February I tell them I would like to settle the IVA in full as I have just received my lump sum.
Well its taken a month and I had a message on my answer phone asking me to ring them urgently.
The lady informed me that it was required for me to pay the entire £9,050 to them straight away and to set up a standing order for £280 a month and I should be able to settle the IVA by August. The pension lump sum is regarded as a "windfall"
On asking exactly how much they thought my debts amounted to she said it was over £14,000.
Obviously I was shocked, or maybe I shouldn't have been, I don't know. It seems a massive increase over 18 months, should I comply or is there a way round this ?
Thanks for any help.