Can they do this without any prior notification to those involved.
If so, what happens to all the monies paid into the iva with the previous large organisation. Advice please. [/b]
Moderators: TalbotWoods, JaneClack
Florida wrote:Now they say that is not the case and I have to pay in the additional funds to cover the remaining payments to reach the pence in pound and close the iva. Not to mention now having a further 500 month to pay on top of my previous mortgage costs.
kizzy wrote:(although they did state that any increase in the mortgage repayments would be knocked off the monthly amount that I would pay over the 12 months to keep it affordable).
Princess2 wrote:Hi i have had a letter from Bakertilly - Debt lifeboat also, i called just to confirm the details and i was told that Debt lifeboat are only a branch of Bakertilly and not the company seperating as such. I was easily able to get in cotnact with the lady i had been speaking to previously and was assured my IVA would run as before.
They would do my annual review as normal and if i had had an increase in wages then i would be expected to increase my IVA payments, however i will also asked to fill out a income and expenditure so that they can check increase in my living costs
I am also due to release equity in the 4th year of my arrangment also, by a creditors modification. I asked about this and they told me that if i could not release the money then i might have to do a variation meeting or continue to make payments to meet the min dividend to creditors. Hoping to get the re-mortgage so this does not happen though.
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