Hello and thank you for your question. I will be very pleased to assist you. I'm a practising lawyer in England with over 10 years experience.May I ask if you were advised to take out an IVA by this company or someone else please?
Roughly what was the debt that was owed at the start of the IVA and roughly how much will you have paid by the end?
My question needed further information and in effect it has not been fully an served yet I have already been charged 38.00. Does it mean I will be charged again ton continue my line of enquiry?
My apologies for not getting back to you promptly. I found the letter informing me of the acceptance of My IVA dated 10 October 2011. The total amount owing to the creditors was £44,110.06. The accepted monthly payment was £160.00 with the total payable amount of £9600.00 which included fees of £3363.00. There has been reclaimed PPI payments paid directly to the Insolvency Practitioners to the amount of around £8000.00. When I received an extra income of £270 from a pension fund it increased my monthly repayment to around £370 without any notice. This is well beyond the amount I could afford. I sent the yearly documents that was required but was told that it was never received. I only knew of the increase when I received a letter saying that I was owing the extra amount of unpaid repayments when I called the Practitioner's office. The company is called NFT Financial Solutions. The same supervisors remained throughout though the company name changed from Walter Goldman to Knightsbridge then now NFT Financial Solutions.The Meeting of the creditors In 13 January 2015 put the total approved claim of £28,199.97. Since the sale of my flat I am now asked to pay the full amount plus the supervisors' fees all adding up to £51,000.00! I just cannot understand how in the end I am going to pay much more than the debt whilst the whole exercise was meant to reduce the debt.