Page 1 of 1
Posted: Mon Nov 04, 2013 9:44 pm
by Ian.01
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?
Posted: Mon Nov 04, 2013 9:53 pm
by Foggy
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.
Posted: Tue Nov 05, 2013 1:32 am
by MelanieGiles
What!!!!!!!!!!!!!
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?