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Early settlement of IVA?

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45 posts • Page 2 of 51, 2, 3, 4, 5

Re: Early settlement of IVA?

Postby Jules64 » September 3rd, 2013, 5:22 pm

Ugh gutted!

Received a letter today from one of my credit cards offering a PPI refund of £8571!!! That will be nearly 11k paid into my IVA through PPI and there's still more companies to pay it! Not once have I asked for PPI so get claiming people!!!

I hope the others pay out soon then I can make a final offer.

I phoned my IVA people today and amongst other things said my hubby has to retire in 3 years so may not be able to remortgage, their response - 'You'll be surprised how many people can re-mortgage whilst in an IVA' - even though my husband won't be working how do they expect us to pay it???? I know its my fault for getting in debt but I don't want to lose my house!!!! :roll:
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Re: Early settlement of IVA?

Postby Debtwizard » September 4th, 2013, 11:38 am

Hello Jules64

I can see PPI being a problem for some people that have gone insolvent, on this forum we have someone that went bankrupt with debts of £36,000 only to receive £46,000 in PPI refunds.

This can be read here Went bankrupt with debts £36,000, then received £46,000 PPI

It may be an idea to try and settle the IVA earlier rather than later, before the redundancy you mention.

I am concerned that you say 'I know its my fault for getting in debt but I don't want to lose my house!!!! :roll:'

Surely your house is not at risk? The beauty of an IVA is that you have better control over your assets than had you gone bankrupt. What makes you think your house could be at risk?

Best wishes,

Mike
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Re: Early settlement of IVA?

Postby Jules64 » September 4th, 2013, 12:13 pm

Hi Mike,

I am hoping the PPI gets sorted asap and then I will make an offer, if of course the PPI does not cover it!

Re the house - I knew at the beginning about the re-mortgage part but by talking to the company yesterday and their response about getting a re-mortgage whilst in IVA and husband not working, it's like they don't really care how we pay! Don't get me wrong, I am so grateful for their help because I was at rock bottom 3 years ago and could see no way out apart from a few that I won't go into :( , I know they have to get as much money back as possible but if my husband is not working (hopefully he'll find something else) we could not afford to make mortgage payments, let alone higher ones!

I just hope the PPI gets sorted really quick then I can make an offer and hopefully get my life back!!!!!

Jules
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Re: Early settlement of IVA?

Postby Jules64 » September 4th, 2013, 12:39 pm

Just read the thread re the 46k PPI, interesting!!!
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Re: Early settlement of IVA?

Postby Debtwizard » September 5th, 2013, 10:11 am

Hello Jules

I tried to send you a private message yesterday and it bounced back saying problems your end with your email account.

Any chance you can send me a private message with your contact number please?

Best wishes,

Mike
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Re: Early settlement of IVA?

Postby Jules64 » September 5th, 2013, 1:34 pm

Mike,

Thank you so much for the call, your advice was very much appreciated.

I will be in touch shortly

Jules
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Re: Early settlement of IVA?

Postby Tina » September 6th, 2013, 9:55 am

HI Jules - I hope your husband does find something soon. In the meantime if you are in danger of defaulting on your mortgage payments make sure you request a payment break from your IVA as you should never be left with mortgage payments at risk.

Keep in touch with your IP so they can best help you and I hope you can get the full and final matter underway soon.
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Re: Early settlement of IVA?

Postby Jules64 » September 6th, 2013, 10:48 am

Hi Tina,

My husband is still working, I was talking about in 3 years time - the mortgage payments are fine.

I would not bother approaching my company about a payment break etc when our boiler blew up they were not interested in the slightest and could not care that we had no heating!!! :roll:

Just working out things re F&F offer
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Re: Early settlement of IVA?

Postby KellyO » September 6th, 2013, 1:33 pm

Hi Jules,

Good luck with your full and final offer and pop back when you have some news :D
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Re: Early settlement of IVA?

Postby Jules64 » September 16th, 2013, 11:10 am

More offers of PPI in the post this morning,
1) £1800
2) £1800
3) £5203 all from Barclays.

Really need to make that F&F offer ASAP!!!!!

That will be a total of £19,545 back in PPI and my original debt was £34,320 and I've made 27 payments of £229 so far. I believe there are still more companies to pay out PPI!!! Oh well, it was my own fault for getting into debt but what I could have done with that payout...........! :roll:

Regards

Jules
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