If I underpaid by �700 on my iva last year & am being notified now what options do I have? I asked at the time from bonuses etc & they never got back to me to advise so the money was used.
You will need to pay the missing payments into the IVA. I am afraid them not getting back to you is no excuse as the obligations to pay over bonus payments, etc. are clearly defined in the agreement you signed and it is your responsibility to meet those obligations. Hopefully your IP will agree to add a couple of months on at the end to make up the lost money.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
The other thing you could do is add a bit extra on each month until the money is made up.
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 they should be able to increase your payments or give you an extension to make up for it. In future keep the money to one side in readiness to pay it over.