Hi would really appreciate some help/advice . My partner is in year 4 of iva but has been in breach after only paying for the first year. His original payment was £139pm which was in increased to near on £600pm with no c.o.s so not the best idea he stopped paying . In the last two years the iva company have done several ppi claims more than once and his account has been in limbo . the current situation is the iva company are starting bankruptcy ( since may 2014) HOWEVER they want him to send them mortgage and secured loan redemption paperwork before anything else happens . Also a ppi pay out has been incorrectly allocated and the creditors and iva are fighting that out too . my partner will admit to burying his head at times and he accepts and is willing to pay his debts but everyway forward has some block ? could anyone offer any advice as to a way forward for him please thank you in advance
The best advice we can give is to speak to the IP themselves as they can give case specific advice. You can petition for bankruptcy yourself but if the company are doing this then I guess it saves you the upfront cost of the fees?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi .. yes we did speak to David and also a solicitor and CAB and there is no way forward. His supervisor has told him they started the bankruptcy proceedings last May but are waiting for funding to complete ? so why do they need his mortgage and secured loan details . the ppi claim that was wrongly allocated was paid our over a year an half ago yet they still trying to resolve that ? they just don't seem to answer any direct questions , like can he remortgage his property as he has £40k equity ( well £20 as its a joint mortgage) and then pay off his IVA ? there answer when can discuss a payment option plan ?
Thanks for your reply
I'm hoping one of our expert posters come along soon for you Macca2108 and give their view as it's all a bit above me. Sorry but do hope you can get some resolution to this very soon.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
To be honest this has gone too far for us to give any useful advice on an open forum, without full knowledge of the facts.
David is one of the best IP's in the business and, if anybody can move this forward it will be him. But, you need to open a dialogue with him, as only he can answer your questions with any accuracy.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thank you , David is actually the CEO of the company my partner is with. I will get him to contact his supervisor again and see if any thing can be moved forward for all concerned . appreciate you replying thanks again
