Is there any you could chat with me directly please? I need as much help as I can get with this and don't want to become a nuisance to other readers.

T.I.A.

In the 5 years I have been paying this I have not received one statement from Aperture or Debt Movement with regard to where our money has been going. The list I put up I got from a copy of the initial Creditors meeting that began all this in 2016.

And with regard to being blind from Day One - yeah we were (hold hands up) cos nobody told us any different. My mental health right now is pretty bad but if it gives you a laugh you just knock yourself out.

Very new to this and as you can tell very green without a great deal of understanding - but I am trying.

In the 5 years I have been paying this I have not received one statement from Aperture or Debt Movement with regard to where our money has been going. The list I put up I got from a copy of the initial Creditors meeting that began all this in 2016.

And with regard to being blind from Day One - yeah we were (hold hands up) cos nobody told us any different.

My mental health right now is pretty bad but if it gives you a laugh you just knock yourself out.

Very new to this and as you can tell very green without a great deal of understanding - but I am trying.

We were paying (in year 5) £313 per month to a company called Debt Movement - what they did with those payments I haven't got a clue as (as you said)

I have never received any documentation from them as to how they spend it, in terms of when our original lines of credit were taken out, I cannot say with total accuracy as some of them are over 20 years old.

We aren't paying anybody at the moment as our 5 year term has finished. We are currently in a period of limbo until we find out what the next step is gonna be.

What I would like to know is 'if' we are asked to take out a secured loan can we refuse?

And if so can there be sanctions/penalties made against us?

Spot on, it was a debt charity based at a church in Liverpool who - after our initial meeting - referred us to an IVA rep.

After a informal chat about our finances and a possible escape the idea of a IVA was suggested as the best way forward as it would mean (or so we were told) our home would be safe from repossession or forced sale.

This was extremely important to us as we have an autistic child who has only ever known that house as home - if you know anything about autism you will understand just how important routine & structure is.

My debts are/were

Capitol One        £2070

RBS Mint            £1065

HSBC Credit       £9476

HSBC Current     £764

Barclays             £1526 (opposed IVA)

My Wifes were 

HSBC Credit      £6657

Lloyd's TSB       £186

MBNA                £9311

The initial agreed fee for repayment (by IVA) was £160 pm for years 1 & 2, Years 3 & 4 saw us paying £193 pcm & in year 5 it got cranked to £313 pcm. 

@honeybee13 I welcome help and support from anyone who can advise me 

@dx100uk If I do that I am right back at Square One again surely and paying for the rest of my life. 

I had hoped that we would simply be paying another 12 months and then be free from it but whatever happens it looks like I'm paying until the day we die.

I certainly don't want them taking a chunk of my kids inheritance - especially bearing in mind (in my opinion) they have mis sold us something we would never have agreed to at the getgo.

@honeybee13 Unfortunately I do, at the time of taking out the IVA there was very little equity in it but now it has risen in value - and this despite us not carrying out necessary repairs on the property due to paying into our IVA, 

Just my original mortgage which still has 17 years to run.

Hi,

A quick synopsis - the wife and I have just completed Yr 5 of our IVA and now the IVA firm has said that they would like us to attempt to release some equity from our property to satisfy our creditors in the form of a 'remortgage'.

We were told this at the outset but that it would 99% be unsuccessful due to our poor credit history and that we would then end up simply paying another 12 months of IVA payments instead.

They contacted us recently to once again mention this but in the letter it also tells us that if unsuccessful we may be asked to apply for a 'Secured Loan' to release the equity needed. This was never told to us at the start but upon reading up it would seem this stipulation was added into IVA T&Cs after 2014.

In the letter received recently our IVA company (originally Aperture, now Debt Movement/Jarvis) told us a company called 'Select Partnership' would be in touch to assess our best options moving forward.

S.P. called yesterday & they took basic details from us including estimated monthly salary details and have been told one of their mortgage advisors will be calling us next Wednesday to tell us of the next step. At this point I am absolutely sh****ng myself.

I do not want to be forced into having to take a Secured Loan for the best part of 15 years, my wife was recently badly injured at work and her physio has told her that her injuries aren't healing as they should be and there is a possibility she may need surgery which will require a lengthy time of recuperation afterward (she is only entitled to SSP while she is off) & possibly an end to work if her surgery is unsuccessful. All of her injuries are medically recorded btw.

What I would like to know is what grounds do I have to refuse this Secured Loan option bearing in mind the uncertainty with regard to my wifes health?

Our total debt in 2016 was approximately £30,000 and was 98% credit card and bank overdraft related. We have never missed a repayment during this time and have repaid approximately £12k back (which I know counts for nothing).

Please, I don't need to be advised on what I should've done back then - simply what I should do from now.

T.I.A.