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    • Hi All, before I start I know there are similar threads of the topic I am raising, and each, of course, has its own unique scenario, which may benefit others. My case is as follows: 1. I saw a gumtree ad on the 16th of Oct 2020 for a Mercedes E220 CDI, priced at 7,500 2. I called the seller and said I will come over on the 17th of Oct 2020 to view. 3. On the 17th of Oct 2020 I went to his place where he is working and viewed the car. He is working for a major car rental company. I checked the car and of course asked the normal things to ask e.g. any insurance write-offs, loans, accidents, etc. The seller said the car is clean etc.no loan, he had a loan but all is paid off etc. and he has the papers. 4. I negotiated the car price to 6,800 because the rims were showing some signs of damage, the rear light had a small burst, cosmetics, etc. I checked all but did not see any sign of damage to the car (it's a black car, the car was a bit dirty, and the sun was already setting in) 5. We agreed on 6,800 and decided to purchase the car. We went into his office, where I paid cash, and also got a Car Sales Invoice with all details of the seller, and a V5C green slip 6. I purchased car insurance and drove off. I asked him about Road Tax and he said Road tax is paid so I have not to worry, just need car insurance. 7. On 18th of Oct 2020 I cleaned the car interior because it was really dirty inside - it took me a few hours so decided to clean the exterior the next day 8. On the 19th of Oct 2020 I went to clean the exterior and after the car was clean I noticed some parts were resprayed. I became a bit suspicious; so on the 19th of Oct 2020 in the eve, I went on the internet and run an HPI check. The outcome from the HPI did not show any accidents, insurance write-off but an outstanding Loan with Moneybarn. At this point, I thought maybe the database is not updated, etc. 9. On the 20th of Oct 2020, morning, things were going through my mind; the seller said the car is clean, no issues, no loan since he settled all etc. but the HPI reports say there is still some outstanding loan. So what I did, I called Moneybarn, and explained the situation, and gave them the contract number as well (since it was displayed on the HPI report). They said they will send me a form by email, but they cannot share any information due to Data Protection (GDPR). fair enough I thought, but what made me boil, they said they OWN the car! So, I took the car and drove to the seller where he is working. I confronted him. He said don't worry, I will handle it, he has no time, he is very busy and bla bla bla. I said what reasons do I have to trust you, you lied, and now you say you still have a debt, etc. So I said I will not leave until he has settled the debt, or repay me my money. I also asked what is outstanding, he said around 7,000. Well, since I confronted him at his workplace he may have felt the heat, he assured he will settle all soon, I said sorry, I need a date, so I said you will settle the debt with Moneybarn by 23 Oct 2020, if not, you will refund me my money. He said Ok he will do it, so I said, since I don't trust you, you will sign a piece of paper, and sign it. On the paper, he wrote "I will clear the debt for the Mercedes by Friday" and signed it. I said I am not happy and added the debt details with contract number, and also a clause that if he fails to settle the debt with Moneybarn by Friday the 23rd of Oct 2020, he will refund me my money, 6,800, and sales of the car Mercedes, license plate, will be void. Also, I said to put an initial on each amendment I made with signature. He did, and I left. 10. On 22 Oct I sent him a message, to remind him to settle the debt by Friday 23 Oct 2020 noontime and also I outlined some legal jargon I had to sent that I received from citizensadvice. 11. On 23 Oct, morning time, I received a message from the seller, he said he will not/cannot refund me the money, not to visit him at his office or place, and that he feels threatened by me. 12. Now, the dilemma/headache; a). I received the form from Moneybarn on the 20th of Oct 2020 and I have to send it back within 7 days b). the seller send me a message he will not refund the money c). is the seller holding the title with Moneybarn or did he also buy and not knowing there is an outstanding loan on it d). did he sent the V5C to DVLA since I have the green slip? e). Shall I fill in the form and sent it to Moneybarn? f). If Moneybarn has all my details they may send someone to repossess the car? 13. I decided, I will not undertake anything yet, because my mind said, go there, confront him, park the car in front of the company since I purchased it there and signed all paperwork in their office, they will call the police, the police will come and surely will not do anything but will force me to remove the car and park somewhere else, record all on camera, take all evidence, sent to Moneybarn and at the same time to the seller's employer (when I asked him to sign a letter he will settle the debt by Friday 23rd of Oct 2020, he used a paper of the car rental company, and on the back, the logo of the rental company is displayed clearly and he may have acted on behalf of the company to sell me the car, after all, I don't know if he holds the title with Moneybarn - well, this is an excuse for me to even sue the car rental company, or blacklist him with the company he is working for since it seems he is some type of manager there and he may have acted in the capacity as a sales person to sell the car to me on behalf the company....). 14. So on the 23rd of Oct 2020, I didn't do anything like described under 13....it's not my style as such I called AWH solicitors, explained all, and they said one person is specialized in dealing with such cases and will call me back after studying my case and inform me if it is something they can fight or not. So they will call me Monday the 26th of Oct 2020. I also said I want to go now and confront the seller, but she said better wait till Monday, and if they can fight the case, they will tell me the next course of action - but my funds are limited and cannot afford a lengthy battle, because if no case against Moneybarn means I will have to sue the seller to the court which will cost me. The car has comprehensive insurance and with all this saga I added on the 20th of Oct 2020 also legal insurance on top. Lengthy story, but I am trying to be as detailed as I can, and yes I should have done an HPI before buying the car, but I am from Holland and car sales work there a bit different, and this is my first time I buy from a private seller. Well, once I have sent the form to Moneybarn, I will park the car in a garage, and at this stage, I am renting a room in a house (there is one more tenant). Since I am from Holland, I am planning a trip within 2 weeks to visit my family and I will drive down with the car and in the meanwhile wait if the solicitor can be of any help. I need some advice though, I am still planning to drive down to the seller on Tuesday after I talked with the solicitor, park the car in front of the company, and confront the seller, and try to record all. I will also try to make him sign a letter that I purchased the car in good faith from him (regardless if he holds the title with Moneybarn or not but at least I purchased in good faith from him). Evidence that I have: 1. Car sales invoice 2. Paper that I made him sign 3. Gumtree ad; I could retract this from google history, but the original add removed from gumtree. At least I can show it was advertised 4. I tried to create a history of past owners, total owners including me are 5. It seems the car was also posted on gumtree before by a company in Essex (I saw on google). The reason for doing this, it is very likely that the seller purchased the car from someone else with an outstanding loan. Since then I read a lot on the internet, so please any advice is welcome to pursue my case, I paid a lot and at least I want my money back. Also what I read so far, Moneybarn is not easy to deal with...thanks in advance for any advice I can use for my case.
    • Hi   I think you need to check not just the serial number but what Meter Point Reference Number (MPRN) as the MPRN is what is registered and energy supplier go off as well as the serial number.   So you need to see what the MPRN is as well as the energy supplier it is registered with.   If you look at this Ofgem link: https://www.ofgem.gov.uk/consumers/household-gas-and-electricity-guide/connections-and-moving-home/who-my-gas-or-electricity-supplier   In the above link to do this check it gives a link to:   Find My Supplier: https://www.findmysupplier.energy/webapp/index.html (note you may have to complete a captcha, then input your postcode only and click find my address, when the list comes up click on your exact address, you will then see you actual MPRN and the energy supplier linked to your address)   With the above make sure and take the details of the MPRN and the Energy Supplier, better still take a screenshot/pdf the webpage.   Please let use know if on doing the above it matches your current supplier?  
    • I had exactly the same issues.   Grossly over estimated bills from January onwards.  Despite what they claim, they are effectively taking an interest free loan from their customer base to keep the company in business.   They can dress it up how they like.  It’s irrelevant if they reconcile the bills the following month because they just over bill again thus keeping a rolling interest free loan.   it took two months of constant badgering to be finally moved to a fixed DD.   Once that was done I didn’t care how much they over-estimated by.   I had raised a query with the ombudsman over the billing fiasco and they readied a complaint should I wish to proceed.   I thought everything was sorted until May/June whereby I was allegedly more in debt then I was expecting to the tune of an extra months DD.   On querying it, it transpired that even though I was on a fixed monthly DD, because the bill was generated less than 5 days before the DD was due to be taken they didn’t take the DD.   They offered £5 compensation by way of apology but wanted to take two months DD in June.  I told them where to get off.   With appalling customer service,  bills that you need a Maths degree to follow, and I do have one and still struggled, inability to follow through on any agreements, constant gross over-estimation, the missed DD was the final straw and I proceeded with complaint to ombudsman.   Prior to getting to that stage I had to quote Symbio’s own complaints procedure to them to get any sort of response.   Their final offer to me was £25 goodwill and to waive an exit fee. The offer was derisory given the time it had taken to get things sorted and the continuing ineptitude.  Also, the whole thing has dragged on so long (5 months) I was already in the final 49 days of my contract and therefore there were no exit fees to pay and therefore nothing to waive.   Anyway, upshot is, ombudsman found in my favour.  Ordered an apology and a goodwill payment. Symbio appealed but were told the decision stood.   This week I received the goodwill payment.   I promptly left an honest and truthful review on trustpilot.   The next morning I received an email from Symbio with an apology.   This was followed an hour later with an email from trustpilot saying Symbio had replied to the review.  On reading the response they have accused me of not following procedure and of cyber bullying.   The company is a complete joke.
    • why not simply tell you supplier they have the wrong meter number you been paying for usage , and ofcourse you can view this online too so its not as if you'll owe anything you might get a nice surprise and find you are owed a refund.
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I have about £85,000 of debt credit cards /loans etc and could probably only afford 15p in the £1 in paying it back (5yrs). I make just token payments at present

 

I lost my job was out of work for 10 months, my new job pays 35% of my previous salary (been there 6 months).

 

My partner has over £40,000 of debt but has kept up every payment (buts it’s more 50% of her take home pay)

 

She can’t ‘make these payments’ with out me paying council tax and all other direct debits at present (which I can do as only making token payments to my creditors e.g £1 a month).

 

Once in an IVA I won’t be able to do that

 

The IP wants us to go down a joint IVA route

 

They say creditors won’t accept my partner making £900 of payments to her creditors a month

 

Put the whole thing together

 

BUT if she is then liable for my debt it would be non starter

 

She has elderly mum and would inherit a lot of money and there is no way she would have that to go and pay off my debt

 

Any advice ?

 

We are only paying interest only on a massive mortgage at present and both nearer 50 then 40 so whole thing needs sorting

 

I DON’T know wether I just keep making token payments to see if I ever get back into a job (salary wise) as before. Most of my creditors are accepting token payments at present the phone calls have largely gone away although this wont sort my partners problems out or my own.

 

If we could LEGALLY keep our debts seperate and then sort out this mess that would be ideal.

 

Any help greatly received

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Hi

 

The IVA is an individual voluntary arrangement, so it wouldn't be a joint plan as such, it would be two arrangements using the same household income and expenditure.

With you making an offer of around 15p in the £, an IVA is definately a good option for you. With regards to your wife also doing an IVA, she does have enough debt, but you will need to sit down and look through your household income and expenditure to see if you have sufficient surplus (disposable income) between you for you to both pay into individual arrangements.

You will need to include all income, and then excluding any unsecured creditor payments, write down all expenses for the both of you, including any children you may have, for example, housekeeping, clothing, footwear, travel costs, bills, etc. If you then have at least £100 each between you to spare at the end of the month, then you could both possibly look at doing two IVAs alongside eachother, and have both of your debts written off after 5 years.

If your wife does receive an inheritance, from her elderley mum, and has already entered into an IVA, this is not a problem. She would need to declare that she has received this money, and then could offer a full and final payment to her IVA to clear her debts in under the 5 year period.

The problem with making token payments is that your debt doesnt clear that much at all, and the amount of interest charged will be very high.

 

Another option, if your wife does not want to entr into an IVA, is for her to enter into a debt management plan alongside your IVA. This way, she could make monthly payments she can afford, whcih do not have to be her contractual payments. the debt management company would then disctribute these payments to all creditors each month. You can as above continue to pay into yoru IVA whilst she is doing this, and ocne your IVA has been completed, after 5 years, you will both be able to put more into her DMP pot to clear her debt quicker. If she receives the inheritance in a DMP, it would be the same thign in that she can propose a full and final offer to her creditors to clear debts in full.

 

I hope this helps. I would be interested to hear how you get on or what you decide to do x

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Hi

 

The IVA is an individual voluntary arrangement, so it wouldn't be a joint plan as such, it would be two arrangements using the same household income and expenditure.

With you making an offer of around 15p in the £, an IVA is definately a good option for you. With regards to your wife also doing an IVA, she does have enough debt, but you will need to sit down and look through your household income and expenditure to see if you have sufficient surplus (disposable income) between you for you to both pay into individual arrangements.

You will need to include all income, and then excluding any unsecured creditor payments, write down all expenses for the both of you, including any children you may have, for example, housekeeping, clothing, footwear, travel costs, bills, etc. If you then have at least £100 each between you to spare at the end of the month, then you could both possibly look at doing two IVAs alongside eachother, and have both of your debts written off after 5 years.

If your wife does receive an inheritance, from her elderley mum, and has already entered into an IVA, this is not a problem. She would need to declare that she has received this money, and then could offer a full and final payment to her IVA to clear her debts in under the 5 year period.

The problem with making token payments is that your debt doesnt clear that much at all, and the amount of interest charged will be very high.

 

Another option, if your wife does not want to entr into an IVA, is for her to enter into a debt management plan alongside your IVA. This way, she could make monthly payments she can afford, whcih do not have to be her contractual payments. the debt management company would then disctribute these payments to all creditors each month. You can as above continue to pay into yoru IVA whilst she is doing this, and ocne your IVA has been completed, after 5 years, you will both be able to put more into her DMP pot to clear her debt quicker. If she receives the inheritance in a DMP, it would be the same thign in that she can propose a full and final offer to her creditors to clear debts in full.

 

I hope this helps. I would be interested to hear how you get on or what you decide to do x

 

Thanks for this, her biggest concern is she would be legally /contractually obliged to pay my debt when she gets this inheritance (her previous partner took her for £50,000)

 

She also has a problem of burying her head in the sand so comments like when I get my 3% pay raise and/or I might get a small bonus don’t help

 

With regards to my offer 15p, the IP is saying that won’t be accepted so it has to be joint or my offer much more (my income wont support much more)

 

My original proposal was £250ish a month for my IVA but partner is paying £900 to service her debt, she earns just bit more then me

 

 

They have all our income bank statements payment plans etc

 

The initial idea was solely my IVA although the reality is IF I start paying for an IVA (£450 a month which i cant really afford) she can’t continue to pay for her debts (I am at present paying towards them as I am only making token payments to my creditors)

A big mess

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I would suggest speaking with other IVA companies like Payplan, as I know that the lower offer they put forward is 10%, so I cannot understand why the IP you have been speaking to is saying it will not be accepted :(

Why dont you consider going forward with the IVA, and then your wife making reduced payments to her creditors in a DMP. This way you will be able to do the IVA, and she will be clearing her debt in a DMP? x

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I would suggest speaking with other IVA companies like Payplan, as I know that the lower offer they put forward is 10%, so I cannot understand why the IP you have been speaking to is saying it will not be accepted :(

Why dont you consider going forward with the IVA, and then your wife making reduced payments to her creditors in a DMP. This way you will be able to do the IVA, and she will be clearing her debt in a DMP? x

 

Thanks for this , they have now gone to £571 a month , some how inflating my salary by 10% and making figures up ! :mad:

 

The detailed spreadsheet I sent over has been ignored

 

Its still all around joint income although I want a sole IVA.

 

I know they have to take into account household expenditure but its getting silly.

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Unfortunately the creditors are not accepting a lot of IVA proposals with single income and expenditure (their criteria changes all of the time). You will be told that you could try an IVA if you are adamant of using a sole Income and expenditure, but it is likely not to be accepted by your creditors. You would need to put forward a joint income and expenditure (where your partners income would be cancelled out by most of her expenditure), or at least showing your partners contribution towards half of the household bills, with your other sole expenses.

Dont forget also that all DMPs and IVA companies have certain guidelines to adhere to that the creditors require you to stick to. This is to ensure that you are paying back as much as you can afford within the given time span of the plan, and to give your IVA the best chance of being accepted.x

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Thanks for this , they have now gone to £571 a month , some how inflating my salary by 10% and making figures up ! :mad:

 

The detailed spreadsheet I sent over has been ignored

 

Its still all around joint income although I want a sole IVA.

 

I know they have to take into account household expenditure but its getting silly.

 

Guess what they have come back with new figures

 

Guess what their exactly the same as the ones before (with an inflated salary)

 

Of course it occurs to me their a business

 

Not really interested in you spending 3hrs doing on a detailed budget, they probably dont care if you fail your IVA

 

I dont really want to find someone else supply 3 months of bank statements copies of all credit cards etc etc

 

will keep the world updated

 

My orginal advisor said it would be around £400 a month

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Hi

 

So, has Payplan now said that you should be proposing to pay £400. Are you comfortable in affording this each month?

As in my previous post, you can try an IVA based on your sole details, but they are likely to ask for a joint income and expenditure to show a realistic reflection of what is coming in and going out of the household.

I hope you manage to get this sorted, if I can be of any more help at all, please contact me

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Hi

 

So, has Payplan now said that you should be proposing to pay £400. Are you comfortable in affording this each month?

As in my previous post, you can try an IVA based on your sole details, but they are likely to ask for a joint income and expenditure to show a realistic reflection of what is coming in and going out of the household.

I hope you manage to get this sorted, if I can be of any more help at all, please contact me

 

Running up date

The IP wasn’t aware we had £3,600 mortgage arrears.

To be honest after a bit of hassle with the mortgage company we have had no pressure from them to start paying the arrears back.

Its represents just over 1% of the total mortgage.

I then suggested I would pay back the arrears £100 a month (i.e. over 3yrs) to the IP and he immediately suggested that would reduce the IVA by £100 a month.

I might take this £479 to IVA and £100 to mortgage arrears .

I can’t really afford this long term at present but know I could short term (first 10 months) and then hope things change.

I worked out I had more then £85,000 of debt this would mean paying back 34p on the £1 is that excessive? (That doesn’t account for their fees, so what I pay back would be less).

I am just fed up with calls and unceratinity

Was out of work 10 months but have been back in work 7 months now and there is potential consultancy work.

Edited by stewpots
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Hi there, thanks for the update.

If you have mortgage arrears, it is strongly advised that in the IVA budget, there is an allowance for you to pay these off. As soon as they are cleared your IVA payment can then increase by this amount. Dont forget that an IVA is reviewed annually, so any changes in income and expenses would be taken into account.

34% is a very good offer and is not classed excessive. Dependant on which IP you go to, this should include their fees, however ensure that there are no hidden/upfront costs, as many IVA companies charge these. As above, there are IVA companies such as Payplan who's fees are built in within the IVA, meaning there are no up front costs and you do not need to pay anything other than your monthly payment.

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  • 2 weeks later...
Hi there, thanks for the update.

If you have mortgage arrears, it is strongly advised that in the IVA budget, there is an allowance for you to pay these off. As soon as they are cleared your IVA payment can then increase by this amount. Dont forget that an IVA is reviewed annually, so any changes in income and expenses would be taken into account.

34% is a very good offer and is not classed excessive. Dependant on which IP you go to, this should include their fees, however ensure that there are no hidden/upfront costs, as many IVA companies charge these. As above, there are IVA companies such as Payplan who's fees are built in within the IVA, meaning there are no up front costs and you do not need to pay anything other than your monthly payment.

 

 

Well after finally sorting out all the paper work my ‘hearing’ is 2nd July.

 

The IP has clearly show all their fees and they account to about a 1/3rd of the total.

 

They have also reduced the IVA for the first 18 months so I can pay back the mortgage arrears.

 

The creditors if this is accepted will only get about 22p in the pound (its £88,000 of of debt not £85,000).

 

The IP shows the Bankruptcy route would give them about 6p.

 

I get the impression with the 1000s they get it like a well oiled factory process.

 

I am told I should be available (via phone on 2nd July).

 

I was impressed with the IP documentation which runs to 30 pages, everything is spelt out in plain English including my obligation, what happens if I was made redundant etc.

 

The MBNA had offered to close account for a one off 8.5k (debt cira £27k with them) I of course don’t have 8.5k

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Hi Stewpots, thats great to hear it is all going to plan. 22% is a really good offer, especially compared to 6% if you were to go bankrupt, and the creditors will see this. The creditors will try to get you on board with them especially if they know you are setting up an IVA, they will want to try and either set up an arrangement for you themselves or chase for payment, while they still can.

Well good luck, and let me know how you get on :)

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  • 1 month later...
Hi Stewpots, thats great to hear it is all going to plan. 22% is a really good offer, especially compared to 6% if you were to go bankrupt, and the creditors will see this. The creditors will try to get you on board with them especially if they know you are setting up an IVA, they will want to try and either set up an arrangement for you themselves or chase for payment, while they still can.

Well good luck, and let me know how you get on :)

Well this has all gone through now although the title of the thread is a bit misleading

 

Went for a sole IVA in the end.

 

First payment went out of bank account this month

 

Although Northern Rick didn’t go for it as they have under 25% of the debt so their legally bound.

 

No phone calls letters since (guess hearing from others a bit lucky there)

 

So now just 6yrs of payments

 

I think the first 16 months go to the IP !

Interesting article (your not alone !)

http://www.insolvencynews.com/article/show/140-debtors-apply-for-IVAs-every-day

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Thats brilliant Stewpots, I am really pleased for you. Northern Rock are so difficult, but at least your other creditors managed to outvote them. Yes, with Payplan, you make your monthly payment as proposed for the 5 years, but the creditors agree to forego the first 6 months or so's payments, to cover Payplan's fees. This is much better than having to faulk out upfront costs, or any costs if not accepted/fails. Your monthly payment would then go directly to your creditors for the remainder of your arrangement.

The creditors would have been fully informed of your IVA being successful - sometimes the message takes a while to filter down, so you can get some creditors still sending letters, but this would wear off, and at the end of the day, they cannot do anything :)

Good luck and best wishes to your future of being debt free xx

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