problems with my IVA

[jleeper]

I was granted my IVA in July 2010, everything was going alright, carried out the 6month review with my payslips...

I did inform them of changes to my circumstances, my partner was pregnant and due in Feb 2011... They told me to ring up when he was born, which I did they told me they couldn't reduce my payment due to being the IVA for under a year and told me to ring back if I had any problems..

I phone back once my partner went of basic maternity pay which was a big whack out of our income. I phoned back and I was told that the working tax credit would sort that but it didn't.. I was told again in May when I had to pay for my car to be fix that I would have to find the money from somewhere as I was only in the first year of the IVA...

So I took a call regarding IVA company, got my details from the insolvancy register.. They talked me into Bankruptcy but I have made 3 payments to them now and I am having doubt regarding my future.

I currently am working but am envolved around money and product of value. So if I was made bankrupt I would have to make a choice as I would have a drop in my income from 1400 to around 900...

The main question is can I transfer my IVA to a differnet company, I have already applied to the IVA to be discharge for non payment but I haven't recieved this yet..

What are my options?? I would like to keep my job and ideally I not down the bankruptcy route..[V]

[Shining]

Hi and welcome to the forum.

If your IVA fails you can enter another with a different company, but if yours hasn't failed yet (not received certificate of non-compliance?) then why not talk to who is representing you at the minute and see if your IVA can be kept.

Unfortunately, the company you've made 3 payments to can be very persuasive and make things sound easy and perfect. I realise you don't but if you wanted to go bankrupt you can do this yourself with only court fees.

give your IP a ring and see if the IVA can be sorted and if not advise them of your situation as they may be able to help.

[jleeper]

thanks for your quick reply, i give them a ring to try to resolve the issue... My concern is that i missed payments now and won't listen to my issues and write them off as 'excuses' to not to pay...

[kallis3]

Welcome from me as well.

So sorry that things haven't worked out for with the IVA. Unfortunately the company you chose to help you with bankruptcy are only out for themselves.

If you do want to go down this road then do it yourself, don't pay out a load of money to a company who will only relieve you of money you can't afford.

As Lesley says, speak to your IP and see if your IVA can be salvaged. If not then you can do a Debt Management Plan temporarily while you speak to another company to possibly set up another IVA.

[flumpy dog]

goodluck jleeper xx

[kallis3]

Let us know how you get on, hopefully you can get something sorted out.

[Foggy]

Hi. I can only echo what has been said above. Speak to your current IP and see if anything can be salvaged. However, I feel that the experience you have had with them was less than constructive ( and, in part, made the BR seem the more inviting).

The short term DMP that Kallis suggested might be the way to go until you can find a more suitable IP.

Might I ask who you went with in the first place ?

[jleeper]

the iva was setup with freeman jones

[Shining]

Always worth a chat in the first instance and even if they can't help may be able to advise you of different options until another IVA can be put into place. x

[MelanieGiles]

Hmmmm - I am getting more and more queries to my office these days from people who are unhappy about their current IVAs and want to fail them so they can start another one. Nothing wrong with that of course, as this is more than possible - but having to pay another five years from scratch is not everyone's cup of tea. Such a shame that your existing IP could not have been a little more helful or flexible when you needed their support.

[plasticdaft]

If only all companies matched up to yours Mel. The attitudes shown by many an IVA company totally stinks with regards to customer care. It doesnt matter to many firms if the IVA fails halfway through or not as they have already made their money out of it.

Pity so many seem to be getting into something they do not understand fully.

Paul

[MelanieGiles]

If this truly is happening Paul, then it is a great shame as failure rates don't do this profession any good in the eyes of creditors. There has to be a little flexibility and discretion built into the IVA, in my opinion, to make it ultimately workable.

[Foggy]

I think one of the problems, more so with the larger enterprises, is that the running of the IVA is dealt with by a team of office workers whose knowledge seems to be variable in the extreme. When questioned or a request is made to speak to a manager or the IP they "dig in", rather than refer.

I am fortunate, so far, in that the team dealing with my IVA seem very competent (however, I have had no need to test them yet). That said, I have never had any contact whatsover with my IP ( despite trying).

[kallis3]

Must admit that so far, my IP company has been excellent, even though they are one of the larger companies.

I've not needed to contact them much fortunately but my case worker has always been available.

[Shining]

Mel's company is an exception, no reference numbers everything is very personal.

I can't imagine not being able to get hold of my IP direct and getting a reply sometimes at midnight! I know I'm lucky to have found Mel and her team but do often wonder if my IVA would have failed in the early days when it appeared to be one problem after another in that first year. I had the backing of Mel and she supported me through the bad times.