My iva has been nightmare from start to finish my debt 14000 my bill from iva 18000 I'm only paying 52p then now it's gone up to 72p in £ I'm in year 4 and IP has put payments up from £300 to £600 I've contacted creditors who say they haven't heard from the company since I started it we n joint iva and being charged £7500 each in fees plus they have had £5000 in ppi as well I've had bills that have been wrote off for 11 years it's a joke when I spoke to creditors they think we have been making payments I've asked for balances of what I have left and company don't have that info apparently it's a stressful nightmare is it me or does something not add up??
Ask your IVA firm for a 'receipts and payments account' from the date you started the IVA. This will show exactly how much you have paid in, how much they have paid out and to who. It is easy for them to generate and they should be able to email it across to you.
You can also ask the firm for a breakdown of the claims made in the IVA by each creditor, and the total payments made to each creditor against those claims.
For your contributions to go up from £300 to £600 the firm should have reviewed your income and expenditure to determine you had these additional surplus funds each month. Ask them for a copy of the income and expenditure review which supports this increase. Go through it line by line to check whether it is accurate.
With this further information you should be able to see exactly what has been happening. Let us know if anything comes up which you need advice on.
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Last edited by Chris Whiteoak on Mon Sep 12, 2016 12:49 pm, edited 1 time in total.
Look at the last annual report for figures and ask your IP for an update if it's been a while since.
There must be an explanaiton of the increase - they should have explained how they arrived at these figures.
Either there has been an error when you filled in the I&E form, they have made an error in calculating the increase or you are overspending on non essential items causing you to struggle with the payments.
Only your IP can answer your queries I'm afraid so you need to ask them. Put it in writing and keep a copy.
I've removed your details from the bottom of the post as you are not allowed to advertise until you are an expert.
I suggest that you email admin and ask them to make you up to one.
Last edited by kallis3 on Mon Sep 12, 2016 12:51 pm, edited 1 time in total.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
