My IVA company told me that if I took early retirement I would be able to pay off my remaining 'time' by paying off a lump sum equivalent to my remaining due payments, about £12000. Now I have retired they say I have to pay half my lump sum to them and continue my payments every month. This is a payment of £28000 instead. Can I do anything about it?
Check your paperwork. Many IP's will specifically exclude pensions from an IVA, in which case they have no call on the funds, unless you volunteer to make a full and final offer as you were originally advised.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Who gave you this advice Ian? Was it the IP personally - and can you say which firm you are with? Was their advice provided in writing, and did this influence your decision to retire, or was this already planned?
