I don't want my IVA to fail

[Lois Carmen Denominator]

Hi I know how you feel, I was made redundant friday its so scarey but I informed my IP straight away and I must say they were great,just be as honest as you can and tell them the truth, hang on in there Ive applied for 6 jobs allready

Thanks Phil, I know how you feel too. When I lost my job I fully expected to get another with similar pay. I tried every way I could, I still apply for everything. I just got to the point where I was offered a job and had to take it, albeit at half my previous salary.

Best wishes and everything crossed for you.

[kallis3]

I didn't realise that you had had redundance pay.

You are allowed to use that in lieu of wages whilst seeking further employment, but as soon as you get another job, you should hand over the rest to your IP.

However, the fact that your job is so much less pay, and you have been using the money to top up your payments may go in your favour.

Definitely give them a ring today.

[kallis3]

I've deleted your other question Lois, as it is a duplicate of this thread.

Have you spoken to your IP yet?

[Lois Carmen Denominator]

No problems Jan.

Do you think I will have a problem with the redundancy thing? They got it all anyway, literally, I used it to top up the payments because at one point I didn't even physically earn the cash to give to them for monthly payments, never mind to live on.

I was worried at the time that they would use that fact to force me into bankruptcy.

[David Mond]

Well first of all who is your IVA with? Secondly you should inform your IP as soon as possible and explain in detail what happened and how you spent the money.

I am sure a variation to your last 11 payments could be done - but would need to know all the facts, what divi was originally on offer - what divi's have been paid out etc.

[Lois Carmen Denominator]

Thank you David, I am with Payplan. I honestly can't recall what I had to pay back, but I can access the paperwork.

I literally gave them almost all the money anyway though payment top up, except for the school uniforms for my boys when they changed schools.

I also have to add that I do earn half my pay now and it's casual, I had to join an agency, I don't work anything like every day and technically don't have a job, I suppose.

[David Mond]

Payplan are good listeners and should be able to give you all the information as 4 years+ down the road I cannot see them failing your case - i am sure a reasonable dividend has already been paid out.

[Lois Carmen Denominator]

Many thanks David, as you can imagine I am terrified. I have tried to ring them now, been bounced around a bit and promised a return call.


I didn't mean to mislead them or anything I just wanted to pay the thing and be done however hard and I did well this far.

[David Mond]

Don't worry they will call you back - let me know if they don't though.

[Lois Carmen Denominator]

Thanks David.

[Julie]

Hi there Lois Carmen Denominator....fab name [:D][:D]

Hope payplan call you back and put your mind at rest. You have done so well to get this close to finishing, I'm sure there'll be a sensible solution for your problems.

Good luck and please keep us updated.....oh and nag payplan until you get through to your IP [:)]

[Lois Carmen Denominator]

Hiya Swans girl. Thanks for that, everyone here is very kind. I will ring them back, nerves and terror mean I have to psych up.

[Lois Carmen Denominator]

Hi all. I apologise, this will be a little meltdown here.

Still no call back from the correct person at payplan. I rang a few times. I haven't nagged because frankly, I am terrified.

My job is gone, as discussed. I don't earn what they want from me. At my age, I am not placing any great hope in earning that again. Next step for me is a state pension on the money front.

I am terrified that I didn't tell them about my redundancy money, I didn't technically get another job and they had it pretty much all back anyway.

I am further terrified, more terrified in fact, that they will extend my payment time. I have done 4 years, I cannot do more than the agreed time, emotionally I mean. My children are growing, they need clothes that fit, something new would be nice for them. They go without, have nothing.

I am sorry, I'd better stop because starting to describe it is like a floodgate opening.

Also, I am certain everyone here knows the score on the payments thing.


I went through my papers, no mention of any payments given to creditors, I possibly mislaid said info, can't access it because I need to contact payplan to do so.

I don't recall having that info though.

I don't know, grasp the nettle and sit on the phone is the factual advice, but what will the outcome be? Will it be even worse for me?

[kallis3]

Try emailing your IP direct:

http://www.insolvency-service.co.uk/newipsearch.htm

I am sure you will have nothing to worry about and that Payplan will be sympathetic.

It is in no-one's best interests to let it fail now as you are in your last year.

[David Mond]

I will chase them for you. Sorry to hear that its not gone well.