Hi, I wanted to know what the situation was with regards to selling our house whilst under an IVA agreement. Is this allowed. I realsie any monies would go direct to my IVA but do they allow you to seel the house in the first place?

I wrote a cracking long first post but my laptop crashed and I lost it, so here's the short version: I've received the purple spotty letter and then the pink spotty letter. The original company that GT asked to do my PPI did nothing for 10 months last year I applied for a PPI refund on one of my accounts and received an offer of around £7,000. I was so excited thinking that I'd get to keep 50% but of course I soon realised that wasn't the case so I gave up on claiming any more as it didn't seem worth my while. That all changed with the purple spotty letter which was very ambiguous (see attached) and I read that I would get to keep the statutory interest for my help in obtaining PPI refunds for the benefit of my creditors. The letter adds that they'd already provisionally agreed and I was ecstatic. So much so that I then rushed out and claimed all my other PPI refunds which now total £13,000 meaning I'm due £3,000. After waiting patiently to receive my first money (about £2,000) which they'd received February / March I phoned them and was told that I wouldn't receive a penny until the 'official' creditors mass variation meeting which of course they couldn't give me a date for. To add insult to injury, I then received the pink spotty letter from EIC stating that they would be claiming my PPI and would charge 39% for the privelege. Thankfully I'd already claimed it all although I was very upset that GT seem to be holding off their side of the bargain so that there'll be nothing left for me. Can I complain and perhaps get the interest back? How do they justify that some people will get their interest back and others won't due to luck of the draw of mass variations, do I have to wait while the backlog of people who have completed get their mass variations done first? The letter said it should take 6 weeks and it's already been over 12 weeks. It's so unfair as I was thinking £3,000 would be a great nest egg for me to build on over the next 2.5-3 years so that when my IVA ends I can perhaps have a deposit towards my own place etc. I'm desperately upset but cannot find anything on any of the forums about receiving the statutory interest and what's legal etc. Can you please look at the attached letters and let me know your thoughts and what I might be able to do about it. Ok, so perhaps it's as long as the first post so please bear with me. I'm just so miserable having lost out on £3,000. It's less than 25% of the total PPI refunds which is less than EIC would have charged so my creditors are still quids in. Many thanks

Hi there In 2007, due to unforeseen circumstances, I entered into an IVA. One of the creditors within the IVA was Halifax. The IVA was successfully completed early in 2010. Since undertaking the IVA in 2007, I have periodically contacted Halifax and their debt collection subsidiary Blair, Oliver & Scott, to request that default payments appearing on my credit report are zeroed out. Halifax should be well aware that an IVA was in effect from 2007, as well as completed in 2010, owing to the following reasons: 1) Halifax attended the initial IVA meeting in 2007 and were legally informed of the IVA decision in writing 2) Halifax attended the variation meeting in relation to completion of the IVA on 14th April 2010 3) a copy of the IVA completion certificate was sent to both Halifax and Blair, Oliver & Scott in 2010, 2011 and 2012 On 26th April this year, having noticed my credit report still showed payments defaulting as recent as February 2013, despite dozens of calls to both Halifax and Blair, Oliver & Scott over the course of the past six years, I called Halifax to discuss this issue once again. It was my intention to try and seek redress in one way or the other concerning the distorted figure of outstanding debt on my credit file, as well as harassment on Halifax's part by the continued issue of statements which I am still receiving on an account that now holds a nil balance. Upon speaking to various people at Halifax last week, it seems I am none the wiser as to how the series of errors on Halifax's part have occurred. I was, however, advised that: 1) By law, Halifax are required to issue statements despite the IVA reaching completion three years ago (despite my account being settled in accordance to UK law) 2) Halifax holds no records of the numerous calls I have placed concerning this matter since as far back as 2007, and Halifax holds no record of my IVA having been completed I have a number of concerns, some of which I need advice on, including, but not exclusive to: 1) my credit report indicating I am still defaulting payment on my Halifax credit card account, despite entering into an IVA in 2007, from which time the defaulted debt should have been written down to zero. 2) the continued receipt of statements which are still being sent by Halifax periodically since 2010, following completion of my IVA, despite various calls to Halifax 3) no record of calls made to Halifax with reference to the above issues, despite calling your company on numerous occasions since 2007 Further to the above, I understand a default notice will remain on an individual's credit file for six years from the date of issue. Therefore if a default notice is issued it would remain on my credit file for longer than the IVA, which is due for removal in September of this year. The default entries since 2007, therefore, are to be considered incorrect and entries which have distorted and will continue to distort my credit file for an additional six years following the date of the last default - in this case the last default was in February of this year. Having written to Halifax once again a couple of weeks ago trying to get my credit file records amended, it seems as though I've hit a brick wall. They have stated that unless I send a discharge certificate there is nothing they can do to amend my records. Having spoken to my old debt management company they don't have any idea what this is and have advised the completion certificate I have sent on numerous occasions should suffice. Upon telling Halifax this, the complaints department advised over the phone that they would be removing all default entires on my account and writing to me notifying me of this. As I didn't receive a letter I called back to be told I would NOT have the default payments removed! Instead, Halifax wrote to me, but failed to answer questions raised in my original email which were: 1) Why Halifax has no record of my IVA having been completed, despite being in attendance at the variation meeting in 2010, as well being sent various copies of the completion certificate 2) Why Halifax did not write down the outstanding balance to zero in 2007 What Halifax intend to do in relation to readjusting my credit record to remove all defaults since the IVA was agreed in 2007 3) Why Halifax have no record of my telephone calls to them regarding the above - I was previously advised that it may be because I didn't officially state I was making a complaint, but surely owing to the nature of my call, this should have been adjudicated as such by the staff I had been speaking to? 4) Why Halifax still continues to pester and harass me with statements stating that I am failing to make payment, which is causing undue distress Am I barking up the wrong tree to want to sue Halifax for the above, under the Administration of Justice Act 1970, as well as the Malicious Communications Act 1988, due to the statements which continue to be sent, telling me I have outstanding debt and am defaulting in payment as well as for personal injury - I am registered disabled and the stress this series of events has caused, and continues to, has triggered and contributed to various immune system issues relating to my disability which are medically proven to be brought on by stress - the above events are continuing to have a negative impact on my health. is there anything else that can be done by way of a court of law in order to receive compensation for: 1) the amount of time it has taken to deal with this issue (beginning 2007) 2) the negative impact Halifax's incompetency in not writing down default entities on my credit report has had on my credit file 3) the impact the past six years of dealing with Halifax has had on my health and wellbeing I have already logged this with the FOS, but would certainly like to pursue this by other means also. The only issue is that, due to ill health I am unable to work and am on benefits, so the cost of getting a solicitor may be slightly out of my range, unless Halifax were to cover legal costs should they lose any case made against them. If anyone could offer me any advice it would be very much appreciated. Apologies for such a long-winded explanation! Many thanks Joe

Hi all. I need some advice big time. My wife and I have been in a DMP for 4 years and paid religiously every month as well as over paying where possible. The initial debt was £49,000 we currently owe £29500. I have lost my job. I contacted my DMP provider and told them that I have a sum of money to offer being £10k as full and final settlement. They started to assume many things and said they would initially offer £8000 to the creditors as a full and final IVA with a limit of £11000. Now..here's the tricky bit. I actually received much more than £11000 but, as I am not working, I have set funds aside to start a business, I want to pay some off my mortgage as I am currently not earning, pay my Dad back money that I borrowed, put my sons bond money back in an investment( disgraceful I know but, I had to cash his junior bond in!!..I would like to put that back) and.. after a dreadful struggle over the last few years.. would like to have a small sum to fall back on once I get the Adverse debt gone. Now the IVA team would like to see my bank statements. Quite obviously the figures will vary enormously....advice please!!?? Shall I continue with it or just offer more as a settlement rather than a full and final IVA.

Hi everyone! I have a question which I think has been asked many times before. Here is my situation: I have 38K debt with 3 creditors(Natwest loan,overdraft, 2credit cards,30K, Barclays credit card 4K, Mbna 4K) I want to sort it out ,I buried my head in sand for too long.I contacted Payplan and they went into details with my income and expenditure and said IVA best suited for me. As it stands I got 320 pounds surplus but making a bit more sacrifices I could afford 500 a month or even more(+overtime and second job) but 500 looking 100% sure. Also I`m selling my car so I`ll have 5-6K in a month time. After reading a lot about debt managemen I think I would go for DMP and see how it goes and hoping all creditors freeze interest and charges. What I read about IVA it costs money I mean Payplan is free but other fees involved. DMP is free and could be seen by creditors I want to pay everything back. Am I rightly thinking DMP is better in my situation? Any answers or opinions appreciated!!! Thanks!!

Hi all, I need to open a business bank account for my new limited company however, we are in an IVA. Any suggestions? The Bath Building Society seems to be recommended but they want 2500 deposit to start off with to open it. Many thanks, JB

Hi I have just under £40K in unsecurred debt through 5 creditors. I have been to CCCs who have recommended a DMP. After goping through the budget it looks like I have a surplus of £718 per month to pay towards it meaning if interest id frozen i can be debt free within 5 years. all sounds a bit too good to be true so have a few questions: 1. How likely is it my creditors (Halifax, lloyds, HSBC, Tesco) will freeze interest? 2. Can I still pay £75 month to my pension? comes out before taxed And finally the most important one for us is after the DMP is finished how likely are we able to get a mortgage? We have one now and are not looking to move for probably 10 years if at all? thanks so much in advance

A very good friend of mine has been paying an IVA for almost 4 years and the contract (IVA) was issued for 60 months (5 years). They have recently received many telephone calls regarding Mis sold PPI and has been sent some documents to sign, authorising them to claim PPI on her behalf. I have been doing some research on here and read some of the threads regarding similar situations and wondered if someone might be able to add some clarity to this situation? (1) The correspondence received states that if she does not sign the new T&C's then she could continue with the old contract but this may delay the ending of the IVA agreement. Does this mean that the IVA company can hold off on her IVA closure until she does sign the new agreement or could this be just an idle threat? (2) Can the IVA company extend her term length of her IVA if they choose to? (3) She has complied fully throughout the current IVA agreement and by 60 months will have paid out £14K OF £17K debt. Is this acceptable? (4) Is it possible that the IVA company will hire a management company to claim the mis-sold PPI and charge it to her IVA account? (5) If the answer to (4) is yes, and there is insufficient funds available, will my friend be liable to pay their costs? (6) How will the IVA company know whether their clients have been mis-sold any PPI? Surely if their clients say they were not mis-sold anything that should be the end of it? We have SAR'd all her creditors and only a couple have paid nominal sums from mis sold PPI and the rest of them have said 'NOT MIS-SOLD', go away. We have advised the IVA company that they will not pay but they insist they want to chase it for themselves. Apologies for all the questions but she is seriously ill and the stress of it is not making her any better. Would appreciate any guidance or advice please.

Hi need some advice my Daughter some years ago got into financial problems due to a broken relationship. My Daughter and my self have a mortgage on the house we live in. she set up an Iva with dfh and is paying them £300 per month plus £30 for doing absolutely nothing and in fact most of her debts are still accruing interest so in the last 5 years of paying this her debt has gone up from a start of £12k to about £22k. I thought that when she took out the Iva the interest should have stopped. it has been suggested that she declares herself bankrupt but my only concern is would we have to sell the house because of this. Or would she be better of contacting her creditors herself and sorting out a payment plan with them. your advice would be most helpful as she is getting very distraught

Hi All, I'm hoping some one can help. My husband has an IVA and has done for 4 years. He regulary sends in his payslips as requested and they calculate how much of his overtime they require as an additional payment. The last time he sent in his payslips he received a letter saying no additional payment was necessary, but he had done quite a bit of overtime. So my query is will they request the amount later on and can they do this ? It's already been 2 months ago.

hi i had an iva 20/12/2006 but was terminated and no payments were ever made to ip company as me and wife split up and ip said it was not worth persuing and people would again start chasing for money. long story short they didnt and now all remaining on my credit report is the iva dated 20/12/2006 i have been in touch with Insolvency Practitioner Unit but they refusing to remove from my file as not settled !!! can anyone offer advice please how to get removed as dont want to open up bag worms again many thanks lee

Good Morning all, Can someone please help me? I can not find the section that gives help and advice etc on how to take on your creditors from an IVA. Can someone please post the link to that section -thanks in advance Regards Geoff

Hi everyone I need urgent advice. i am currently 2 years into an IVA and have been offered the opportunity of a working holiday in Australia. My boyfriend is emigrating and has been offered a job and a house and has asked me to go with him on a temporary basis to see how I like it. As I am under 30 I am eligible for a working holiday visa but how will this affect my IVA? I can continue to make my monthly payments as i have managed (by selling everything I own) to get some savings together. I am terrified that they will terminate my IVA and I will be left to sort out my debitors myself? I have trawled my agreement and the internet but can find no definitive answer. Thank you

I am considering an IVA and wanted to know if you have a ccj can you add that into the IVA?

Please could someone advise me about my issues. I've already spoken to CCCS and was told that my options were either bankruptcy or token payments. Background: Currently working part time and earning just enough to cover a "low" budget according to CCCS's standards. Had health problems, including hospitalised. Now I need to get into a career which will allow me to work for the next few decades. Debt: Approx £28K over 6 credit cards (highest is £6k, lowest is £2.5K) and 1 overdraft. I was advised that I need to be in a position to pay the debt off in under 10 years so CCCS won't sort out a DMP for me.In my case, what I really need to do it pay reduced for around 4.5years. Then I'll be in a position to be making larger payments. In 6 years I need to co-sign for a re-mortgage of the family house. Currently NOT in my name in anyway. All debts are on my file with Equifax and most likely enforceable. Question: At the moment the only attraction for token/DMP is that I can keep two credit-rebuilder cards to boost my credit over the next 6 years. However if I risk getting some random default say 3 years from now if the bank sees my CR file and doesn't like me using it, then my record is tarnished for 9 years, not 6! I also wanted the option of using the credit card due to the inherent protection against fraud, purchases over £100 etc. Eventually I was planning on CCA and SAR'ing all of them as I set aside money each month for postal orders. I should have made a thread on here earlier and forgone the waiting time for CCCS appt. On the plus side, I now now for certain that I'm not eligible for any benefits or support from the State. Questions below and in earlier paragraph with “question” in bold. Do you think the creditors will accept token payments until July 2017, higher reasonable payments thereafter and consider that a DMP and not default me? CCCS said that they aren't able to negotiate that kind of variable DMP at the moment. I'd of course be frank about my health issues, how I'm studying pt time then fulltime, difficulty finding more work at present etc. However CCCS said that the banks probably won't care about my personal circumstances nor accept a DMP on such a low level of repayment (without defaults on my record and/or passing it onto an agency. Agency might accept it though...). so...DMP, bankruptcy, IVA, token payments or what? Thanks

I entered into an IVA and since it started I have found that several of the debts have been sold to debt management companies. Does this mean that the debt is no longer part of the IVA? My IVA administrator to date has not replied to my messages.

Good Morning I currently have debt management plan and circa 50k of unsecured debt credit cards and loans. I have been paying into this for 2 years. I do not want this to run for 15 years I have recently had a child etc blah blah blah. I have started going through an IVA adviser and I am on the cusp of proceeding. I want to put a final settlement offer to the banks now that my income and expenditure for the IVA is finalised. I have not got the full amount that they will get on the IVA over 60 months but I can get around 80% from the bank of Mum and Dad... IVA advisor charges 4.5k over the term which is also factored in to the IVA I&E. As anybody been here or can offer advice before I send? Thanks

Hi a friend of mine,had an iva which was completed last month,she has since claimed for ppi charges totalling up to 2800.intially there was no issue,now shes been told,that basically halifax are keeping it as they had to write off debt. i only ask as if it was me i would be gutted,shes going to citizens advice bureau soon to see what she can do, if anything. i understand in a way the banks perspective, but surely if the iva was completed and paid etc, they cant refuse the request,the agreed to the terms beforehand. Thats like saying, any money she has they can take purely because she 'had' an iva. i do know where the banks coming from but still i claim ignorance here as im not totally sure how they work after its completed,interested if anyone has an idea?

Asking the question as to whether PPI is reclaimable on some credit card accounts that were part of an old and completely satisfied IVA. I am unsure exactly which accounts the PPI was added to although I have card details and account numbers and wondered how I might find out and if it is possible to reclaim any PPI in these circumstances

Hi all, Hopefully someone can clarify this. I completed my IVA in November 2011 and am in receipt of my completion certificate. My query is regarding PPI claims post completion, I have subitted claims which have been up held and I have also received monies from these. Recently IP's have been advising their clients that they should complete a claim for possible miss sold ppi policies and any monies received with be split between creditors as it is deemed as an asset of the IVA. Completion certificates are also not being issued until this is completed. I was never requested to do this by my IP and received my completion certificate within a few weeks, I should also add that there is no mention of asset's bar property in my agreement. I had a claim up-held by egg earlier this year. They advised that they were off setting £1200 against exsisting debt, I advised them that i had completed my Iva and was in receipt of my completion certificate. Upon hearing this they advised that I could have all the monies. I also had 2 claims with barclays, the first one was upheld and i received a full refund with no off setting against the debt that was part of my IVA. The second however was not up held and has now gone to the ombudsman for them to make the decision. I have been advised by the ombudsman that if my claim is up held then barclays can decide whether to off set or not ?? There was only 2 days between notification of agreement to the first and not up held to the second. If my claim is up held can Barclays off set ????? It would not seem right that due to me having to wait a year for a decision that they can keep it all, where as if they agreed it in the first instance I would of received the money. I have also read on another post that they can keep the premium but have to repay me the intrest ???? really needs some clarification Thx in advance

A friend did a lump sum full and final settlement IVA in 2006 through PKF. Since then, a CCJ has been lodged by one of the creditors, and others are still chasing debt and telling him that the debt is live and still owed. What are his rights in respect of this? Surely this isn't correct or legal? Thank you

Hi all I've had an interesting year, my business finally failed owing me £50k or so and just commencing divorce proceedings with the missus. I like a challenge! I have a new job and I'm starting to look at rebuilding my life, but the credit card sharks won't leave me alone! My credit cards are all pre 2007 so I want to challenge them, but my question is this. Can I still challenge the legality of a credit card agreement even if in an IVA? Thinking of going the IVA route just to get them off my back!!! Many thanks in advance. Trying to keep my eyes on the light at the end of the tunnel, but people keep trying to turn it off!

Our house was repossessed in 2011 (not necessarily our fault - see rapid property/phil martin threads) and a sale was recently agreed at £71k (joke) was recently accepted. We owe 82k at present, but don't know what fees the lender will slap on the total amount. We have not yet been advised of the shortfall or a lump sum offer as yet. Some people have said to not acknowledge the shortfall at all?? We also have a secured loan (balance around £7k) on the property, which have continued to pay throughout and are starting to really resent...would like some advice on whether we should just jack this off! At what point does the loan become unsecured? We have had no contact from the lender on this but if a sale has been agreed surely it is unsecured by default...? What action can the loans company take if we refuse to make any further payments? If we refuse to pay the shortfall and stop paying the loan, they can both slap a CCJ on us but what other action can they take? They can threaten bankruptcy but that would cost them and they wouldn't recoup anything from us... In total, we owe an estimated £35,000 including the above and really need to reduce our monthly outgoings. We are spending the bare minimum for a large family at present and are really struggling. Would an IVA be suitable? If so, at what point could we enter into one? Who should we go to? Is there a better option? Credit rating is already shot and don't want to apply for any in the foreseeable future anyway, so not concerned by that. We are currently renting, have next to no assets and my wife is in a career that may be adversely affected by a bankruptcy, so we would like to avoid this option if possible. Any advice greatly appreciated.

Please help. I got into £65,000 of debt, various reasons that are not important now, my husband also has £20,000 debt. We have our mortgaged family home and a buy to let property, both of which are in negative equity although only by about £5,000. All mortgage payments are up to date. We both applied for IVA's, mine was accepted and my husband's refused so he went into a DMP. I paid £338 per month and he pays £100 from March 2010. I am self employed, my husband is employed. Shortly before it all went through I became unwell, had an allergy to the medication, had to have radio active iodine ... all this lasted a year during which time I couldn't work very much. This, coupled with the recession, meant I couldn't keep up the payments. I am two and a half payments behind. I spoke to my IVA company and to another company and read heaps and decided fail my IVA and to go bankrupt. I filed my petition on Friday and the OR rang me today to set up a meeting. Some things I didn't know: 1) I would have to pay my half of the rent to the OR and my husband would have to pay the mortgage. My half after service charge etc is £325 2) I work for a couple of companies where I do a job over 6-8 weeks, I have to tell them I am bankrupt so they can stop the contract at the date of bankruptcy and start again after that date. If I tell them I am bankrupt they are unlikely to give me more work (purely because of the nature of my work, although it isn't financially related). They currently account for two thirds of my income. 3) As the car is registered in my name I have to prove that it is a family car and that my husband contributed to it's purchase 4 years ago. It is clear that bankruptcy is totally the wrong option for me. I have since spoken to family members who can pay the IVA arrears and will fund the next 6 months while I get back on my feet work wise. What can I do? Can I cancel the bankruptcy and go back to the IVA Any advice welcome as I am out of my mind with worry. Thank you

Hello everyone, I have gotten myself into debt and am currently in the process of setting up an IVA with PayPlan. I just wanted some advice on if i am doing the right thing and also if there are any things i should be doing. Debts: Wonga - £768.49 Minicredit - £500 Payday 1st - £236.25 Quick Quid - £763.75 WageDayAdvance - £312.50 Natwest overdraft - £1000 Natwest Grad Loan - £3240 Natwest Credit Card - £3045 Gas bill from previous property - £257.49 Water bill from previous property - £71 Council tax arreas from previous property - £426 PayPlan have advised that an IVA is the best option for me, paying £130 a month. I have been advised to change my bank account. I am looking at which bank i should choose - any advice? I do not wish to go with HSBC. I am currently with Natwest. Are Lloyds good? I want to open a current account and savings account. Current account i would like the equivalent to the Natwest Silver as they offer phone insurance. I currently have a good credit rating (i know the IVA will damage this for 6 years). I have been ignoring the payday loan companies, i did initially email them informing them of my position and that i was unable to pay - not unwilling - and that they should contact PayPlan with my reference number. Wonga has repeatedly charged my bank account with various amounts in teh last week. I am currently shoing at £1000 over drawn ON my overdraft - i am assuming that this will bounce out again in teh day day or so as i do not have the amount they have charged in my account? I have made a token payment to my grad loan and will do so also on my council tax, edf and water bill. My main issue is that due to all of this i do not have the full rent this month. I have paid £200 - my rent is £650 - and i am able to afford £300 on my next payday 25th November, followed by the remainding (plus £50 charge) on my December payday. I am with Marques. Im concerned that they will be annoyed as my last months rent was late - but paid in full. I have drafted this email below, can anyone let me know if it is suitable? Good Morning Joanne, I hope you are well. I hope you recieved my £700 payment, i assumed you did as i had not heard from you. I wanted to inform you that i am currently taking an IVA to sort my other debts and will be much more finacially stable after this has been set up in the next week or so. However, in the meantime i have had a loan company remove funds from my account. This has resulted in me being short on this months rent. I have paid £200 to yourselves today under reference *******. At this time i am unable to pay the rest until my following payday. I will be able to pay you £300 on the 25th November (as well as that months full rent of course), leaving £200 (including the remaining £150 plus £50 fee) to be paid on my following payday. I will endeavour to resolve this before that date. But at this time i am not in a position where i can come up with any more money than i have paid to you. I know this is not ideal and it isnt acceptable but it is what i can do at this time. I have enough to pay the normal rent payments following this one due to my IVA. It is due to having gotten myself into a difficult position which i am now getting out of. If you need to validate my IVA set up and the problems i have had please do feel free to contact PayPlan on 08448552171, my reference number with them is: ******* My deepest apologies for this, i know it isnt suitable. I have gotten myself in a bad situation and i am sorting it out. Once i have set up the IVA i will be much more secure and this will not be a reoccurance. If you need to talk to me on the phone please call between 1 and 2pm when i am on lunch. Kind regards, Allana Any advice or thoughts will be greatly appreciated! x