IVA Company Ripped Me Off

[Spellkaster]

I am asking advice regarding a company called Debt Free Direct.

In June 2012, they set up an IVA for me.

I had 4 creditors, and a total debt of £11,124.46p.

All debt was unsecured, ie credit cards, personal loan and catalogue.

The first yearly review went fine, my payments stayed the same.

The second year of review, they increased my payment by an extra £45 a month.

I refused and told them where to go, so I cancelled the IVA.

Just before Christmas, I did an SAR.

I am somewhat shocked at what has come through.

The firm had lied about how much overall level of debt I was actually in.

The main concern is how much debt I was in with one creditor, Halifax via a personal loan.

Halifax filled in a proof of debt form they submitted to DFD.

They said the outstanding balance was £6,718.52p.

On the Amount Owed table of creditors done by DFD, they claim its outstanding by £10,668.00!!

I have proof from Halifax, that there was 0% interest added onto the outstanding balance of £,6,718.52p

So, the IVA company have mysteriously added on nearly £4K, without an explanation.

I feel that they tried to increase my monthly payments by fraudulently saying I was in more debt then I was!!

Anything I can do about this!?

[EXC]

Re: IVA Company Ripped Me Off

I'll give [MENTION=48934]Debt Camel[/MENTION] a shout fo you.

[Debt Camel]

Re: IVA Company Ripped Me Off

Your monthly payments in an IVA will depend solely on your income and expenditure, not the level of your debts. If the Halifax debt is wrong, it would not have resulted in you paying more (well not unless you were in a position to repay the whole debt, which obviously you weren't).

I also can't think of any way DFD could have benefited from getting the Halifaxdebt wrong - their fees are not related to the debt level at all.

I am not sure what you hoped to obtain by a SAR?

[Spellkaster]

Re: IVA Company Ripped Me Off

Your monthly payments in an IVA will depend solely on your income and expenditure, not the level of your debts. If the Halifax debt is wrong, it would not have resulted in you paying more (well not unless you were in a position to repay the whole debt, which obviously you weren't).

I also can't think of any way DFD could have benefited from getting the Halifaxdebt wrong - their fees are not related to the debt level at all.

I am not sure what you hoped to obtain by a SAR?

DFD clearly added another £4K onto the balance of the debt without an explanation.

On one of the pages it says that in section 1.2 the loan exceeddd £10,668 due to interest and PPI.

I have evidence from Halifax that there was 0% interest and no PPI was ever added on.

So where had the mysterious £4K came from DFD added on!?

[Debt Camel]

Re: IVA Company Ripped Me Off

Well you could ask Halifax for a Statement of Account. Are you paying them anything at the moment? If not, I am not sure why you wouldn't just let sleeping creditors lie. You should think twice about doing anything that could prolong the time it takes for any of your debts to be statute barred.

[Spellkaster]

Re: IVA Company Ripped Me Off

Well you could ask Halifax for a Statement of Account. Are you paying them anything at the moment? If not, I am not sure why you wouldn't just let sleeping creditors lie. You should think twice about doing anything that could prolong the time it takes for any of your debts to be statute barred.

Last payment was made via the IVA company in 2015.

I'm trying not to communicate with Halifax now.

Besides, the last 2 letters I sent to them regarding the debts they did not respond.

So I'm just going to ignore.