www.iva.co.uk

I am in month 57 of IVA and on completion I should be 3k ahead on monthly contributions. My IVA is with Debt Free Direct and my IVA is under 2010 protocol as it began in 2011. My IP is Antoinette Thorpe with whom I have never been able to speak directly.

Nowadays it is time for equity release and I have been told to spueak with select partnerships to assist with remortgage. However after speaking to the advisor there he is insisting on secured loan, however I never signed up for it and my IVA clause says remortgage. He said he has been informed by DFD that I signed mass variation in 2014 to include secured loan, however I know I did not as I still have it and I had refused to sign because of secured loan clause.

He is threatening me with breach of IVA and also wants my wife's details for equity release, she was never part of IVA and property is in my sole name and current mortgage is in my name only. I have given him all the info to get on with finding a secured loan for me probably for 20 years.

I am really stressed about this and will be greatful for any advise as soon as possible as he is going to call me again next week. Nobody at DFD wants to put me through to IP considering the heavy fees I am paying for her. Please help...

I agree that a secured loan is NOT the same animal as a remortgage. Also it is not Select's place to be threatening you with termination of your IVA -- they have NOTHING to do with your IVA.

I would formally request a copy of the signed mass variation, giving them 28 days to respond. Then, if no resolution make a formal complaint through their internal processes. In fact I might run those two alongside each other.

Then, if still no resolution, make a complaint through the Government Gateway to their regulators, using this link:

https://www.gov.uk/complain-about-insol ... actitioner

Hi and welcome,

Agree that if your paperwork does not mention a secured loan then you do not have to do one so stick to your guns!

Thank you very much for the responses. I will raise formal complaint to Debt Free Direct.

Another funny thing I observe is that I can't trace this IP of Debt Free Direct on insolvency practitioner website?

She is there:

https://www.insolvencydirect.bis.gov.uk ... ome/Search

According to this she is still an IP

http://www.debtfreedirect.co.uk/insolve ... titioners/

You should raise this with DFD as to be fair to Select they do not try and force people into secured loans. It is possible that you have agreed somewhere to this being included but only DFD will know for sure. There is always the possibility that you may not qualify for a secured loan anyway so by providing the information Select can then advise DFD whether it is an option or not. Creditors would still need to approve any offer so a secured loan is no guarantee.

I agree with Foggy - demand that DFD prove this - do everything in writing via recorded delivery and keep copies.

Thanks for all your support and answers, that is really helpful.

Foggy thanks very much those are the contact details which I needed.

Michael thanks for the response, but I am sure I have not signed secured loan agreement. As they cahsed me twice and I still have original forms.

Thanks for the response Lisa, I intend to do that. I am prepaed to act honurably and do whatevery reasonably I can do to fulfill my obligation towards creditors as my five year payment on time is prime evidence of that. however to be saddled with 20 years secured loan was not what I had anticipated at the end.

Sorry to be asking too many questions but just wanted to clarify are select partnership within their right to ask me for my wifes (remarried after divorce) details (name, dob) for mortgage search. As the property is in my sole name including current mortgage. My wife does not work and she is house wife and I have daughter 5 years old with her and 19 year old son from first wife living with me. I have provided them with all my details income etc to get on with mortgage search about myself. However they are saying they need my wifes details, obviously my wife says I don't want anything to do with it. You entered into IVA and you sort out as the debt was aacquired before remortgage.

Your wife should not have anything to do with this as the mortgage and property are your sole name.

I don't know why they want to know her details if she doesn't work and it should make little difference to the end result.

I do know that where a property is solely owned and there are others over the age of eighteen living there, the mortgage company is usually made aware. It may be something to do with this so if you did remortgage this would be disclosed to the new lender. I am only guessing but it may be as simple as that.

They need to know of anyone in the household likely to acquire an equitable interest in the property, as this affects their security. However, I do not believe this extends to financial details.

Hi Jabir,

Please drop me an email (address is in my profile), with all your contact details and I will get in touch to discuss your issue further.

Look forward to speaking to you soon.

Regards,