www.iva.co.uk

Well, it was all looking great, FFS figure agreed and paid, but then I get a statement from blackhorse finance stating I owe them £7300!!!! This was for the HP taken out, as advised by IP a couple of months before IVA agreed, however once Black Horse had seen that we had entered an IVA the terminated the contract and repossessed the car!!!

This caused all sorts of problems at the beginning of our IVA and eventually ended up with IP agreeing that we could arrange HP through a family member and pay them in order for my husband to have a reliable car to drive to work. Black Horse advised that we would be liable for any shortfall, however they knew about our IVA and our company advised that any shortfall would be added to the overall debt. Everything moved on and nothing else was said, UNTIL I recieve this statement today, funny how Black Horse sent this to us, as soon as FFS had been agreed and paid.

Anyway called IP, who now claims that this had not been included in IVA, so looks like we owe it, even though they have documented on their records the conversation about the shortfall being added. Now I have been advised that this would have been too much to have added. Surely then, it would have been the IP's job to hold another creditors meeting and agree a variation??????

OH no instead, Blair Endersby does nothing and now I have paid the FFS, they are telling me I owe BlackHorse the money, or at least 2 of their managers have advised me this!!!! I insisted on speaking to IP directly and they refused.

So my husband calls Black Horse, because at this stage I am near a break down! They say that they agreed the 0.21 in the £1, knew about the FFS meeting, didnt vote, as they had no intention of disputing it and are awaiting for their money and the statement will then be cleared in our name!!!!!

So its back to Blair Endersby, and yes, awaiting a call back... again!!!!

Serious concerns are that if BE claim that this was not included, when BlackHorse claim it was, where do we stand, I am in no position to be paying of a debt of £7300, when we only owned the car for 2 months? I trusted and acted on my IP's advice to the letter to have this come back and bite me.

Is there an ombusman or governing body I can take this up with should (after investigation) BE not have included it? Why didn't then when they where fully aware of it and advised that the shortfall would be added. They have records stating the conversations went ahead, and why would Black Horse be under the impression that they are awaiting there share of payment from the settlement figure?

I am so stressed out, I really don't know what to do! What is the point, I have lost all faith in Blair Endersby!! Can someone help me, whats the point in getting up in the morning and working my arse off to pay the bills, when I have been mislead. If we end up owing this money, we may have just gone bankrupt in the first place!

[V]

Hi Gill, if you dont mind me asking how much was your original debt, the only reason I ask is I know in my IVA papers any debts I had not declared at the beginning could only be included in the IVA if they were under 15% of the total amount of debt.

This is a rather disturbing post - I remember the contents of your earlier ones - and in my opinion the debtor is bound by the terms of the IVA as Black Horse seem to agree as well.

I think it is better dealt with, however, by the Blair Endersby representative who regularly posts on the forum when there is a complaint about that firm. They will be able to investigate matters fully on your behalf.

Thanks Melanie, I have spoken to an IP now, who has said that she will need to speak to the creditors that voted at the FFS meeting and ask them to accept less. She said is was not an error on mine and my husbands part, and she will explain it to the creditors that it was a claim overlooked by themselves, however, she cannot comment on the result. So there I was thinking it had been accepted and sent cheque for payment off, and now we are back to square one. I have now got to wait for another result. Back to square one and am in tears!

Do not be downheartened yet. I am sure your IP will put forward a good case at the next meeting and it seems that at least the money has not been paid out. Creditors are normally sympathetic to full and finals and if there has been an error made through no fault of your own hopefully creditors will see that and the problem can be resolved once and for all. Very best of luck from me.

Thank you, just spoken to IP again, they are re-drafting the proposal and then sorting out a new date for meeting. It will make a 2p difference and I have been told that the creditors that did vote last time, all voted in favour, they will make it clear in the proposal that this was through no fault of mine, so as gutted as I am, its back to the waiting game! Do you think 2p difference would stand a chance at being accepted?

In the great scheme of things it is not huge and just within the 10% drop which is normally allowed by creditors anyway[some even allow 15%]. The main thing is that you did nothing wrong and creditors will see that and hopefully vote it through. Ultimately it is still your best offer and a better return for creditors than bankruptcy and if necessary it sounds like Black Horse will be happy to vote in favour.

If its any consolation, Black horse were one of hubby's creditors and they accepted his F&F offer of around 4p/£ less than was originally agreed.

Thanks Mrs Skint, Lets hope the other creditors that vote agree as well. Only three voted on the last meeting, and they all agreed, lets hope they take into account the circumstances! Just a bit of a shock really when It had all been done before, didnt think for one minute I would be back waiting for another FFS meeting date?

what a mess! hope things get sorted quickly. the joy of completing IVA has been overtaken by this.

Everyone makes mistakes - and glad to see that this one has been sorted out in a sensible manner.

Hi
It sounds like it will soon be sorted out and I can't see creditors refusing because of a 2p reduction in dividend.
Talk about a roller coaster ride
Regards

Thanks for your support, but the sitting and waiting was hard enough the first time! due to their mistakes, I am back doing it again, and sorry to say I feel more than a little bit bitter. I really don't think with this company you are treated as a person, more like a number, I feel desperately unhappy about this, when a few weeks ago, I was celebrating!!!!! i know....... my fault, I should never have got my self in this position anyway!

Your anger is understandable - but you are so close to getting things resolved now that I feel sure you will have forgotten all about this in a couple of months time. Fingers and toes crossed for a good result second time around.

I will keep you posted............