So I have been on here before and found everyone to be really helpful. So here is my question I enetered into a IVA about 4 years ago at the time i was going through divorce and had to sell my house you get the picture I thought I had a large loan in my name which would have made amount owed over 25000 so I thought a IVA would be the answer however it turns out that the loan wasnt in my name but was in my ex's so that means that I actually owed just under 5000 to various card companies. I have actually now paid more into the IVA more than I owe I have a solicitor involved in this Blair Endesby has said that I have failed the IVA as the amount I have paid is not enough to cover debts and pay their fee's when really I shouldnt have been entered into one in the first place as some experts have said before BE should have checked out in the first instance instead they just took advantage. Now they are calling a meeting with my creditors as I have failed the IVA I stopped paying ot on advice from my solicitor and its very strange cause they have sent letters saying they will refund if we can prove this which has been done then they change their mind and seem to use scare tatics etc. Just wondered if anyone has been in similar and if there are any experts out there what do you think. I think im being messed about they know they made a mistake by letting me enter an IVA in the first place. So annoyed with them.
Sorry you've been having so many problems and I hope you can get it sorted out.
I've no idea on the legalities of this but one of the experts will be along later to advise.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
if the loan was not in your name the your iva was for the lower amount all along.
so blair endersby cannot still charge you for the full amount of the iva if its not going to be paying for that part of the iva.
dont think they have a leg to stand on personaly,and made a boo boo at the beginning for not getting the correct detail from the loan company.
why did you think the loan was in your name anyway as you would have signed the loan papers and read it through.
as its been 4 years since you entered iva i dont think that the iva company will push it and fail your iva anyway
cc received 6th January 2014 now upwards and onwards
Did you read the document before signing the documents?
Why has it taken nearly 4 years for this to come to light ?
If they have made a mistake - then i hope this can be sorted, but perhaps the advice would be DONT SIGN anything unless is has been explained and understood - after all we are supposed to be adults!
I think responsibility for the error lies with both parties here. BE shouldn't shoulder it alone. That said, they are behaving badly in failing the IVA while a legal case against them is pending.
They probably have no option BoL if the payments have been cancelled. Ultimately it is the client's proposal and they should check everything before it is signed. While B&E have a duty of care I do not know how far this goes if a client is insistent that a debt is joint.
Had she not stopped paying she could have had the IVAs split and the contributions apportioned between both estates and her creditors would probably have been repaid and her IVA discharged. It would have required a variation but might have been a better option than litigation.
thank you back on track nice of you:) as for explaining about why did I do Iva and why didnt I realise this and realise that. How many of you have gone through divorce had the stress of selling a house and the sale going through only 2 days before it got repossesed so excuse me if I wasnt quite in the mental state I should have been hence I made a bad decsion but at the time thought I was doing the right thing. I thought the loan was joint but turned out it wasnt I have no idea why it took so long for this to come to light but Natwest did contact BE to say I had nothing to do with this loan it came as a surprise to me too. I was told to stop paying IVA on advice from my solicitor ive paid enough in this now to pay of debts BE are taking the mick if they want over £2500 in fees etc. Also Gingerman re youre question of course i signed things but read my earlier reason I was not exactly in the right state of mind. Sorry if Im coming accross a tad angry here but its how I feel.
Michael I have no idea what your talking about there is no joint debts??
Hi Debri -- sorry to hear about this situation. I believe what Michael meant, was that, because you have stopped paying the IVA it HAS to fail ( that is enshrined in the agreement). BE can do nothing about that aspect. What Michael suggests ( at least the way I read it) is that it would have been better to continue paying so that you could have negotiated a change of the proposal with the creditors, to officially remove the debt that belongs to your ex. and then sort out the amount due to whoever.
However, it seems that boat has sailed.
With due respect to your solicitor, he has given you questionable advice. This question should have been raised with B.E's regulatory body.
I can well appreciate that you are angry -- and so you should be. Might I suggest you take a small step back and review your options. It might not be too late to get the regulatroy body to try to sort this out, without incurring further legal costs. Maybe one of the Experts can advise on this course of action.
Best of luck with it, I hope it can be sorted for you.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Maybe I should have added this too but actually BE told me to stop paying until it gets sorted. Then as soon as i get solicitor involved they go back on their word. I dont think a solicitor would put me in a questionable situation not meaning to come accross rude to you Foggy. the fact of the matter is I have more than enough to pay of my debts in full but BE are taking the mick but now saying that all I have paid more or less covers their costs which is riduclous and strange as Ive not seen these fee figures before,, only seem to have happened since I got solicitor involved.
No worries about how you might be coming across, Debri. I have spent many a year working in close liason with solicitors and know them to be only human and as frail as the rest of us!
Anyway, be that as it may .... did you get the agreement to stop paying from BE in writing ? It could be construed as an agreed payment break, which means you are not in breach.
I still think it would be a case to take to B.E's regulatory body.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi Debri - the fees would have been mentioned in your proposal and again in the chairman's report you were sent when the iva was accepted. Do yu have a copy you can dig out? £2500 in fees sounds minimal to be honest and it's probably not worth going through with the failure just to avoid paying these. BE may sue for them post failure and as you signed a contract agreeing them you would more than likely have to cough up anyway. I know you're angry but the legal stuff isn't getting you anywhere.
I think what everyone is missing on this. If you read the first post, she only had 5,000 of debts. Which is not enough to propose an Iva. So should never have been put forward in the first place. I hope you do get this sorted. I would feel angry as well and i am sure the other posters would feel the same in your situation. At the moment you must feel like you are banging your head against a brick wall. As well as paying for an IVA for 4 years which you sound like you should of never been in. Again i do hope this gets sorted for you. x x
But D&G, she thought the loan initially was in her name and amounted to £25,000. It was only after the IVA had gone through that she realised the loan was not in her name and that her only debt was 5k. That's how I am reading it.
I do hope it can be sorted one way or another though.
Yes i know what you mean Judo. But at the start of the IVA all creditors, have to send details of the debt and amount owed. This should of been picked up on by the company 4 years ago. This creditor would of had the deciding vote at that amount also. So someone somewhere has not done there job correctly. The original loan company, the IP and the client.
I completely agree with you D&G. I don't understand how that wasn't picked up. Why the loan company didn't raise the issue or indeed how BE didn't pick up on it when the relevant information was sent to them. It is a bit of head scratcher.
