Hi thought I would post a new thread on our situtation. Having posted on here before with our worries & BE answered us on the forum asking us to email them - thank you BE.
Well our 1st review is coming up after having a I&E review in December. In December they had done a I&E review & worked out we could pay a extra *29* a month - which I paid over the phone as to late to change my DD. January came & they had not changed our DD. We got paper work today about our yearly review & none of the I&E had changed from our original one. So I got stressed out & phoned them up - got passed onto payments dept & then on to my supervisor of my IVA. I was then informed that she had some thing to read to me (I got very worried by this point) "When the income goes over 1300 you have to pay 50% of overtime etc to the IVA" At first I got confused as our household income at the time of our IVA was 1513 - so I thought - we are in big trouble. I questioned it & it turns out my husband (only income earner) can earn 1300(after tax & NI) b4 they want 50% of any overtime etc. (I am on child tax creds lookin after 2 kids). Which is great news as he only comes home with 1219 a month. They also stated "that the 201 will remain the same for the rest of the agreement." We have paid in 95% of all my husbands over time before we knew about this, but fair enough its theirs now. This only came about as we had small increases in tcreds & my husbands income & we had been trying to pay 50% of all of it each month. But started to struggle when winter came with only 30 allocated 4 gas & 30 allocated 4 Electric & 295 a month for food for a family of 4 - so we complained & asked for a review. I know I am waffling but does this seem ok? We are moving house in 3 weeks & rent & council tax will go up (very slightly) but this will mean we can keep to our arrangement & my supervisor said thats fine. I am relieved but scared to believe it!
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Hi Linsey,
Your post just goes to show once an IVA is approved it does'nt mean you're problems are over. An IVA is a big commitment and your post proves this.
Mrs skint is right though get it in writing , for your own piece of mind.
Glad that B&E have been in touch and are treating you well. And good news to their agreement going forward, but ask them to confirm in writing as others have suggested.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Fantastic news lynsey, glad it has gone your way, but I agree that you should get it in writing. At least you can rest easy then.
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 everyone & yes I thought straight away that should be in writing. Would of been helpful if the BE could of phoned or written to us to let us know the outcome. & did thing it odd they did not increase our direct debit in January. Ive been worrying since November which is when we had our 6 month wage slip review & this is when I contacted them & had to put it all in writing. So yes when I send this document I have to send in now, I am going to ask them to put it in writing. I am also logging it in my diary too. Feel silly sometimes, as our debt is nothing compared to others (15000ish & no assets). Before the IVA our debts were over 460 a month roughly (loan,cards etc) & to have it down to 201 is a huge help. & our creditors are getting 45p for what we borrowed - still get confused about that bit.
But thank you everyone for your support & I am going to get on with getting ready to move!
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
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
Thank you Kallis & I do feel a bit better about it all. Was worried about moving & the effect it might of had on our IVA - so having our payment remain the same will really help.
So looking forward to moving, presently in a small 2 bed terraced house & we have really out grown it now. Its constantly cold & terrible to heat & our boys are constantly poorly this time of year. We r moving to a 3bed semi wiv gardens/drive for just #10 more a month but moving up in band of council tax. Due to it being a friends property we dont have to find a deposit - just the money to hire removal bods! Plus we will be moving across the road to my elderly parents (one with MS) so I will be able to support them more. My boys are really excited as they will get their own bedrooms! & more room to play. They r growing up fast & in this house they are getting ontop of each other & drive each other mad! So their own space will be good - for me too!
Kallis & others alike - your a great support on this forum, thank U for being here x
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
That's brilliant lyndsey. I'll bet you can't wait. It will be so good to have all that extra space, and to be so close to your parents has to be a plus. At least you'll be close by if you are needed quickly.
Good luck with the move.
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
People have to remember that IP's want IVA's to succeed almost as much as those in them. Most will be flexible in their approach to problems but cannot help if you dont keep them informed of whats going on.
Glad you are sorted Lynsey.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Plasticdaft - I agree, though feel I must point out we informed them of every change & phoned every month from the start paying in any extra - to keep on top of it. They wanted 50% of the increases & overtime - we gave it to them. At the start we had set higher amounts (not much higher) for gas/electric & food/household goods. But had our I&E amended by the company & at the time where desperate, scared & in a mess.
As our IVA started in April we got through the summer & my husband was doing over time so we managed. Then winter came & overtime stopped - 30 for gas & 30 for electric was not even lasting over a week. We are on prepayment meters & it was taking around 80 a month just have the heating on for 3 hours a day & gas fire on. 295 for food/household goods for a family of 4 - just was not working. So at our 6month review (Nove) we asked for a I&E review as we could not keep to such a low budget & hand over 50% of increases. It took a month for them to arrange a "phone meeting" & I had to contact them to find out it was ok, after we had no further contact from them. I am glad it is sorted & feel more confident in our IVA company again. I guess with the current situation of the UK - IVA firms will be getting over loaded with calls & applications.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Sometimes it is better to correspond in writing - that way you can see what has been agreed. Sometimes a phone call might not be recorded correctly. Anyway glad it is all working out and good luck with your move.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Thanks David & I have done everything by phone & in righting & recorded all the times I have contacted them in my diary. When I had a dispute with tax credits a few years ago. I had logged all my phone calls to them & wrote to them & it really helped prove my case & I won too. So i have been in the habit of doing that with everything ever since.
3 weeks to the day that we move so better get packing some more! Thanks everyone for all your support.. this is a great site when you are in a IVA.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
