Unfortunately you cannot change your IVA other than letting it fail and starting again. It would cost far too much money.
How do you know that the fees are too high and which company are you with?
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
Hi im with debt free direct. I entered the IVA and i told them that the amount was due to change before i entered into it. They explained that if that happens they can ammend the amount. A year later and im still battling with emails phone calls and im just hitting a wall. No one is helping. They said that the amount i owed now afta a sale of a vehicle doesnt really warrant me being in an IVA. They said that they would ring me back to arrange other options or maybe continuing with the IVA but over a shorter period. Ive paid off roughly 3 thousand which they said has only covered there fees. My argument is that was fees based on amount which is no longer the same. One of my creditors sold my vehicle which changed the amount owed from 24 thousand to only 7 thousand. Which i explained to my insolvency practitioner at the beggining would happen. I feel like dfd want this to fail so they can claim what i have paid as fees and im left to go through this all again. Can anybody suggest what i do. Ive been trying to get my figures and iva ammended for over a year !!
Last edited by Jamie.c on Mon Jan 25, 2016 7:10 pm, edited 1 time in total.
Do the old fashioned thing and write to them. Ask them for a full explanaiton of what's going on so you can understand it.
As regards their fees, these are approved by the creditors and effectively come out of the creditors pocket's as it means there is less money available for any dividend to them. Even if the IVA fails they will still be entitled to take their fees at the rates approved by the creditors.
The car was taken back buy the company who i had finance with. They sold the car and it cleared what i owed them. I have also tried going down the complaints route and got knowhere. They said they would look into it however they never get back to me and its costing me a fortune ringing them and waiting on hold for hours. Is it best to just ring another company who deals with IVA s and get them to take it over or start another one. ?
If you have not managed to resolved this issue, please feel free to email me directly directly via the email address in my profile. This will allow me to discuss your issue in further depth.
