Jump to content


IVA originally with Aperture, now Debt Movement/Jarvis - finished 5yrs - now want us to Equity Release/take out secured loan!!


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 102 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Posted (edited)

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.

Edited by dx100uk
Format
Link to post
Share on other sites

Thank you. I'm not an expert on IVAs, other people know a lot more than I do. Could I just ask if you have equity in your property as far as you know? If you don't, there may not be much point in the IVA firm pursuing this.

 

HB

Illegitimi non carborundum

 

 

 

Link to post
Share on other sites

For future readers. Please dont be scammed into an IVA by all these companies. They couldn't careless about what your creditors get. 99% of all you pay all goes on the iva companies monthly fees. On an Iva that would never be done in 5yrs.

 

to the op

ignore them totally now... Let it fail. Deal with your individual creditors directly.

 

Dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

Posted (edited)

@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, 

 

 

Edited by dx100uk
unnecessary previous post quote removed
Link to post
Share on other sites

Posted (edited)

@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.

Edited by dx100uk
unnecessary previous post quote removed
Link to post
Share on other sites

Ok i must be blunt here as there is noway you are ever going to understand the almost 100% guaranteed position you got conned into with pussy-footing around unless you go type in iva in our search top right. This is more important for future readers too so they dont get had themselves.

 

it is almost certain you dont even owe most of the debt that caused you to get scammed by the iva conpany.

 

did you ever check the debts are enforceable?

did you ever wonder why the original creditor s sold your debts to powerless dca's for about 10p=£1? And not crush you in court themselves??

 

list your debts please

 

and no you wont be paying for the rest of your life!

And no you wont be releasing any of your kids inheritance!!

 

Bottom line is you got had hook line and sinker..by whomever? Told you to go for an iva wants shooting..let me guess..one of the supposed 'debt charities '..whose major funders are the very same banks and powerless dcas......... 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

Posted (edited)

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. 

 

Edited by dx100uk
unnecessary previous post quote removed
Link to post
Share on other sites

Are you still paying the original creditor or a dca now?

what date was each taken out?

 

shame on that poor advice. As all of these debts are consumer credit debt covered and protected by the consumer credit act, it would be extremely unlikely infact almost impossible for your home to ever have been at risk. CCJ

 

Each debt is in your sole nameS, not joint, so even if they had or do goto court and get a  CCJ (very unlikely if defended properly, and then got a charging order (which would be a useless restriction k), it could not be used to force a sale.

 

that church based charity got a commission for recommending you to the iva fleecers i bet too.

 

yours is Sadly a classic story, repeated time and again here if you get reading a few threads here

Type iva in our search of the top red banner.

 

Info please

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

Posted (edited)

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?

Edited by dx100uk
unnecessary previous post quote removed
Link to post
Share on other sites

ok who you were you paying through the iva and what date was each line of credit originally taken out.

 

lets repeat what i said earlier, you now no longer talk to ANY of the people, be them the IVA providers, the loan people, any of the 'creditors' you were paying or anyone on the phone EVER again from now on

 

state writing only please, don't listen to their twaddle, put the phone DOWN. you'll get conned and further scammed out of money as you already have been, by using the phone. if this were to goto the regulatory IVA authorities, you would, and probably don't have to date, any written records of anything. because they'll state anything to you over the phone that they wont ever dare put in writing ever to scare you into agreeing to handing over as you have, all the money to date.

 

sadly once you get a statement of account from each debt owner, i've a feeling a big shock is coming your way as each balance will actually be nothing like what the fleecers account sheet tells you.

 

you can't  be 'penalised' or 'sanctioned 'against' no, and you most certainly do not enter into any further monetary scams with any of them let alone a secured loan, which of course is PERFECT for them as then the IVA lot can take you home with a loan secured against it DON'T.

 

the next step is what i already said...you IGNORE everyone....get out of the cash cow milking parlour, get all the info, then hit back hard and wipe these debts out the correct way without spending another penny in 99% of cases.

 

dx

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

Posted (edited)

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.

Edited by dx100uk
unnecessary previous post quote removed
Link to post
Share on other sites

just type no need to keep hitting quote.

 

+20yrs old debts NO!!

and you dont even know who DM were even paying ...:pound:....had blind from day one, 

 

send debt movement an sar<<clickme

 

have you ANY paperwork? 

legally they should have been sending you a statement every 6mts

 

where did that list come from you put up earlier?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

  • dx100uk changed the title to IVA originally with Aperture, now Debt Movement/Jarvis - finished 5yrs - now want us to Equity Release/take out secured loan!!

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.

Link to post
Share on other sites

the laugh was obv not AT you, just how bad these companies really really are.

 

don't worry you'll be the one thats laughing when you get most of the debts wiped out.

 

get the SAR running.

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

These IVA companies need to be wound up

  • I agree 1

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

 

The bailiff: A 12th Century solution re-branded as Enforcement Agents for the 21st Century to seize and sell debtors goods as before Oh so Dickensian!

Link to post
Share on other sites

Posted (edited)

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.

Edited by dx100uk
swearing
Link to post
Share on other sites

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.

 

We don't advise by PM, it's better that the advice is seen on this topic and can be peer reviewed if needed. But the whole point of the forum is to have advice in the open where it can help other people in the same situation, so you certainly aren't being a nuisance. :)

 

HB

Illegitimi non carborundum

 

 

 

Link to post
Share on other sites

get an sar running

 

don't engage over the phone with anyone.

 

take control it's your money

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...