Hi All. I have been reading other questions in the forum over the past few days and am wondering if my IP has chnaged my IVA rules wrongly and not in my favour. I got a new job in January which came with a pay increase. I informed Payplan who have in the past dealt with increases at review time in August. This time round they decided to do a change in circumstances review and I have had t0 pay 50% extra of my pay rise.
This has niggled me and I checked my IVA proposal. The wording says "A full review will be undertaken annually. Where net income has increased the debtor shall increase contributions by 50% commencing the month after the review".
The next point says "If additional income has been received but not paid into the arrangement, the supervisor will issue a certificate of non compliance!".
My questions are 1. What is a change of circumstances review, as I thought this was when you couldn't make payments and 2. does the 2nd point in my proposal mean additional income from a payrise?
I am counting the pennies as it is at the moment, so if payplan are taking an extra 8 months of increases that I am allowed to keep then I want an answer as to what they are playing at
Last edited by SuperGert on Wed Apr 01, 2015 12:10 pm, edited 1 time in total.
I gather that Payplan used to handle pay increases as most others do and as detailed in the proposal, but, some months ago, changed tack and now gather the increase right away.
They appear to be getting around the wording of the proposal by using this "Change of Circumstances review". However, my feeling is that, if you didn't request this review, the review is null and void and the rise should only date from the annual review.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Just spoken to Payplan who have said they have been too leniant in the past and so rule 2 in the proposal applies to non payment of pay increases. To me that contradicts what is written in rule 1 and they make it up as they go along.
Not happy that they can change the rules willy nilly to suit themselves
I would challenge - if the wording is so ambiguous that means in reality you need to be confirming with them every month that there has been no changes.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
I have just called the Financial Conduct Authority who have advised me to raise a formal complaint to Payplan, as they are not allowed to go changing rules that are listed in my proposal to suit themseleves without formal notification in writing, which I have never had.
You need to raise a formal complaint as the FCA suggests. However, Payplan are outside of their remit and any regulatory complaint has to go through the Government Gateway here:
