Stressed

[Lisa Thomas]

I suspect the Gateway might reject a complaint initially if you haven't followed the IPs internal complaints procedure first.

[Chingy1976]

This is how they have worked it out???

I refer to your below email and thank you for the same.

As requested, please see below your equity calculation:

Property Valuation: £123,292.00
Mortgage Redemption: £ 82,622.50
Secured Load Redemption: £ 33,544.11
Selling Costs (3.5%): £ 4,315.22

Equity available: £ 2,810.17
85% of available equity: £ 2,388.64

They want me to pay the £2388.64 over 7 months sheesh

They said if I do not then my Iva will fail and I will have to pay all that is outstanding,

They also stated that I failed to remortgage my property at the correct time, I rang them and the lady on the phone said I will not be able to so I do not have to send in the proof that I could not remortgage,

Seems a little bit rubbish

[Foggy]

They do tend to use a cock-eyed interpretation of the equity clause. Check your paperwork carefully and see if it makes any reference to the normal way this calculation is made -- usually by reference to an annexe (sorry, cannot recall which one). That annexe contains the correct calculation. If you have reference to that calculation they cannot use their own interpretation.