www.iva.co.uk

Hi all just looking for some advice really. I have just completed six years of my iva. I went into the sixth year as my property is half owned with a housing association and my supervisor at the time emailed me to advise "in lieu" of releasing equity I would need to pay for the sixth year which as I have said I have completed in full. My iva supervisor is no longer with the company and the gentleman who has taken over my account has now advised that I have 28 days to forward information on a secured loan which I have against the property as i have with all previous reviews and also a valuation, if I do not comply I may be petitioned for bankruptcy. Can this still be requested after completing 6 years? I am sure that in the original documentation it basically stated either 6 years or 5 years with equity release. I am a single parent so only own 25% of the property anyway. I'm really not happy about this and want some advice on whether this is in any way normal practice? Kind regards.

It seems very unfair however difficult to provide definitive reassurance without seeing the small print of your agreement.
Have you asked to speak to your IP direct rather than a case adviser ?
Which company are you with ? There maybe someone on the forum who can advise.

It is probable that this is due to the new case worker not reading your file fully and I would suggest that you take it up with his manager if you cannot speak to your IP directly.

Hi

Ridiculous !

You have already extended instead of any equity release
You also can't obtain a secured loan on a part owned property !

Go back to your contact or go straight to your IP

Who are you with ?

Regards

Why is it these staff see fit to introduce, threatening statements, like petition of bankruptcy, when completely uncalled for and unnecessary.

It seems the OP if being fully compliant yet in her rights to challenge something that she does not understand or thinks is incorrect.

Its bully boy tactics and not acceptable.

Thanks for all of your replies. I have tried to get hold of my IP today, hopefully I will get a call back. Originally my iva was with Invocas, it then got moved to Cleardebt which to be honest was fine until now. Thankfully I still have the email from my original supervisor from cleardebt which as I said states that I will need to continue to pay for a further 12 months in lieu of equity release. I am hoping that as I have this in writing they will continue with my completion rather than push for even more.

Just got a call from my IP, my case is now pending completion!! Hopefully there will be no further set backs. Once again thanks for your replies...its good to know that there are people you can fall back on when you need it most x

Great news, Kerry

Hi

Just shows you how important this forum is to many people

Regards

That's great news, a shame you had to suffer that stress in the first place at the end of your IVA.
Good luck for the future.

Great news. Far too many people get walked all over by iva firms!!

Power to the pee-pul!!!

Paul

That is good news and I'm glad it's sorted for you, hopefully completion won't be far away.

Well done on completion as Andy says this forum is invaluable, and helps so many people, hopefully you will not have to wait too long for completion certificate.

Great news - well done

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Andy Davie

Hi

Just shows you how important this forum is to many people

Regards

very true. It also shows why you must keep and document EVERY communication with any IVA company!