How can IVA be raised significantly, and is there anything I can do about it ?

[Clive.01]

i have been in iva for 10 months now, must admit its been a great relief, but just received a letter saying its been increased from £255pm to £370pm. how can they raise it by so much and is there anything i can do about it

[Shining]

Hi and welcome to the forum.

Do you have no idea why it's been raised? Have you completed a review recently?

I would question this as if you can't afford the amount it will only lead to IVA failure.

[luluj]

Have you submitted a new income and expenditure form to your IP? Have your circumstances changed in anyway?
I would contact your IP tomorrow and seek reason for such an increase asking them to provide you with specifics to help explain. Make sure your outgoings truly reflect your actual spends. Let us know how you get on.

[Clive.01]

yes completed a review in august but nothing has changed since my original review plus its not even been a year since starting it

[Shining]

I would definitely ask for a breakdown of how the increase has been put into place from your IP x

[MelanieGiles]

This definately seems odd and you must take this up directly with your IP. Let us know what the reasons for the increase relate to.

[kazzafunk]

It would be interesting to know why they have reviewed before a year is up - which company are you with?

[Hyperdrive]

What a shock! Sounds very strange to me if your circumstances havn`t changed and there`s been no explanation.

[Foggy]

Sounds very much like a "clerical error" --- I wonder if there is somebody of a similar name wondering where their review result is !!

[Clive.01]

hi, thanks for your replies, just been on the phone to them but person im dealing with is off till wednesday so let you know then. company is called creditfix, very helpful in the beginning but not so sure now. is there anyone with any experience of this company?

[Hyperdrive]

Not heard of them. But if it`s an IVA you are surely governed by the rules.[?]

[MelanieGiles]

They are one of the larger operators, but given that you have someone specific looking after your case I would wait until they get back as they will probably be able to review this for you quickly and hopefully clear up any misunderstandings about your figures.

[Clive.01]

ok thanks for your input