Im so worried

[chez]

At the begining of my iva i missed some payments (as i was not told that the iva had commenced) and consequently i am in arrears. I increased my payments and agreed to increase the tern of the iva by another year. That was 6 months ago. Now they are telling me i am in breach of the iva as i am in arears of £801. They are going to start proceedings to fail my iva unless i can pay the arrears in full.
I never get to speak to my IP, just someone in the office. I tried explaining about the increase of payments and term of the iva but was told that my creditors had rejected the offer. They eventually aploogised for their error in not communicating that information to me and have agreed to put my proposal forward again. Im so worried. What if it is rejected again? will my iva fail? does it cost me each time they arrange a meeting of creditors?

[Sadsack]

Hi Chez and welcome to the forum

I, like you am a debtor so can only answer as one.

I would suggest that you get on the telephone and insist on speaking to your IP. Don't give up on that. The fact that you have been paying extra into the IVA to make up the shortfall and you have agreement to pay into the IVA for a further year, seems to me that you are keeping your side of the bargain.

Persevere with your IVA company until you get to speak to your IP. Afterall, no-one really likes or wants an IVA to fail.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[MelanieGiles]

These posts are unbelievable. How on earth can an IP not tell their client that their IVA has been accepted - it just beggars belief. If what you say is correct, I suggest that you refer the matter to the Financial Ombusdman, but I am actually struggling to understand how you could have signed an agreement and then not known that the IVA was accepted.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[R1chard]

agreed they dont want you to fail. ring your IP and explain you have been making extra payments etc etc.

plus paying a furthe ryear, i can see why they would want you to fail?

58 PAYMENTS TO GO..

[Adam Davies]

Hi Chez
I'm a bit lost with your post.
Are you saying that your IVA was agreed but you were not aware that it had started and that you agreed to increase both your payments and the term of your IVA to compensate for that ?
Then you talk about your creditors rejecting your offer,was this the offer to increase your payments and extend your IVA ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[chez]

thank you for your replies and I apologise for not stating the facts clearer.

Yes I was aware the IVA had been accepted but I was never informed of a start date. I had returned all my bank details as the company requested but the payments never left my account. 4 months passed by and I became concerned.
I contacted the company by phone and letter to see what the problem was. I was informed that my origional paperwork had not been processed and thats why payments had not been collected. I then set up a standing order and commenced my monthly payments.

In the meantime I recieved a letter stating I was in arrears They wanted the payments to date back to the date my IVA was agreed.

The money was gone...It had been christmas...my 1year old girl was in hospital and i'd just had a baby.....

I suggested increasing my payments from £183 to £201 and over the remainder of the IVA my arrears would be cleared. Iwas told that i would also have to increase the term of the IVA from 5 to 6 years as the company would charge me for arranging the meeting of creditors - I agreed to this.

I have paid the £201 for 9 months now.

Trouble is no-one told me that one of my creditors had rejected the new arrangement at the variation meeting. At my yearly review they picked up on the arrears and thats when they started proceedings to fail the IVA saying I am in breech of my contract.

Since I contacted the company they have agreed that someone should have been in touch with me, informing me of developments and working with me to solve the problem.

What a mess.....

[Soulgrowth]

Hi Chez

Welcome to the Forum.

What a worry for you! This sounds as if it is someone elses mistake though. I am not an expert here, only someone who is in the same position as your self. I have a similar, but different, situation ongoing where my IP advised me to stop payments on my IVA.

My suggestion would be to make sure that you put everything as much as possible in writing to your IP, keep copies and send all letters by recorded delivery. You need the IP to put in writing to you that the mistake essentialy lies with them. Ask your IP what THEY suggest you do to remedy the mistake ... surely (Andy, Melanie?) the length on the overall IVA could be increased to take this into account? Remember Chez that you are instructing the IP and you are paying them a fee to help you address your finacial situation ... so don't be afraid to have expectations from them

And my final piece of advice Chez would be to keep in touch with the Forum here as we are all in this together and your experiences may help someone else in the future.

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

[jpj]

I was told my IVA was accepted, but nobody actually told me when to start paying!! I had to call my IP in the end and say "excuse me, it would be nice if you could advise me when my first payment is due!!)

[iva.com]

Hi Chez and jpj,

I am sorry to hear that your IVA firms don't apear to have been communicating details on your proposals to you.

Would you consider posting reviews of your experiences at www.IVA.com? These could help others to avoid similar situations.

chez, I hope that you are able to resolve this. Please let us know how it goes.

Kind regards,
Terry Balfour
IVA.com

IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp

[Adam Davies]

Hi Chez
I can't see why your IVA had to be extended and why you had to have a variation meeting.Afterall the blame partly lies with your IVA provider for not collecting the payments.Surely paying an extra £20 per month is all that is needed under the situation,even if you had to pay a bit more to keep thr arrears below three months at the anniversary date.
You will lose all the money that you have paid in if this IVA fails.I hope you can come to an agreement with your IP and creditors
Regards


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

There are faults on both sides here. If the IVA was known to have been accepted, then there is an equal responsibility on the part of the debtor to ensure that payments have been made as well as the IP to collect the payments.

And if the money has been spent on other things, are you really sure that an IVA is the right solution for you?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[chez]

Thank you to Debbie, jpj and andydavie for taking the time to reply, i really appreciate it.

YES I am sure as I can be that an IVA is right for me. I didn't just decide on a whim to do an IVA! The process has been a long, drawn out, complicated, stressful and hugely upsetting time.


posting amended by admin team

[mikebdomain]

Chez

I you feel that you have suffered a financial loss and have been mistreated or misadvised, then you need to make the complaint official.

You need to write to your IP to make them aware of your complaint and then if you are not satisfied with their response, inform the Financial Ombudsman Service (FOS). You can inform the FOS using the following form:

(PDF) http://www.financial-ombudsman.org.uk/c ... t_form.pdf
(WORD) http://www.financial-ombudsman.org.uk/c ... t_form.doc

Or you can contact FOS on: 0845 080 1800

Once you make the complaint in writing to your IP they have to respond within given timescales and have to give you their final response to the complaint by eight weeks.


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[gavin]

melanie is right hard but right if you new your iva was up and runing and the payments was not comeing out your bank you shod have not spent it cos it was not yours but i do hope it all get sorted out for you i am in a iva nd know it can be stressful and hugely upsetting time sorry if thes has upset you but melanie is right

Empty pockets never held anyone back. Only empty heads and empty hearts can do that.

[jpj]

a.The Iva company should have called Chez and said "where is your 1st months payment??"
One month my IVA co lost my payment and rang up chasing me for it...luckily they found it in their client account!

Couldnt an Ip have refused to have a variation meeting on the grounds that they messed up??? To ignore a client for 3 months when they havent paid is down right shoddy!!