Would I be able to catch up payments for a break with a lump sum payment ?

[Happycamper]

Hi, I haven't been able to find the answer to this anywhere so before I go to my caseworker, can anybody help? My IVA started in Sept 2011 for 60 months. In Feb 2012 I was allowed a 3 month payment break to assist in rehousing costs. These payments were to be added to the end of the plan. I have the opportunity to catch up on the 3 missing payments before the end of my plan by way of monies gifted by my girlfriend. This would result in the plan ending when it originally should have. Would I be allowed to 'catch up' with a lump sum payment or would they expect the plan to run the 63 months? The payment break was authorised by my IP not by variation by the creditors. Many thanks in advance.

[kallis3]

Hi and welcome,

You should be fine with this as long as your IP company know where the money is coming from and that it is a gift.
Give them a call tomorrow.

[Foggy]

As Kallis says, this should be fine

[Happycamper]

Thank you! I was afraid it would have to be a variation meeting. I shall contact them tomorrow.

[Lisa Thomas]

Catch up should be fine.

If girlfriend was interested perhaps she could 'gift' you enough to make a F&F offer and bring the IVA to an early end...

[kallis3]

Let us know how you got on.

[Happycamper]

Thanks everyone! My caseworker has confirmed I can catch up on missed payments, I just need to let her know so she can allocate the payment correctly. Only thing is, and I'm not going to quibble about it, is that my missed payments were much lower than the payments I make now (I had a payrise). Caseworker says I pay x3 @ current rate. I'd have thought it should be x3 at original rate but hey ho.

Gf did suggest f&f but having read a lot of posts, it seems a variation meeting takes time and incurs costs. If I'm right, my first payment was 5 Sept 11 so my last should be 5 August this year. Does that sound right please?

[Lisa Thomas]

I believe its the original rate as its the arrears you need to catch up with putting your IVA back in the place it should have been.

Ask them for an explanation as to how they have arrived at this decision.

[Happycamper]

Thanks Lisa. Caseworker has confirmed last payment 1 August. Gf doesnt want to quibble payment break amount. She just wants to pay and be done. Think I agree. Dare to dream this is nearly over?!

[kallis3]

It sounds like it!! Not long to go now.

[Shining]

Fingers crossed here for you.

[Lisa Thomas]

Best of luck.