www.iva.co.uk

I have been paying an IVA for the last 4 and half years, never missing a payment and have stuck to the rules you have been made aware off.
However the company i deal with has now turned around and said there is more money to pay on top because my wages went up but so did my living expenses, as i was living at home at the time and now i do not. My IVA should finish in January and being told now i will still have to pay extra money from when my wages increased. This is causing a great deal me a great deal of anxiety. Please can you advise me, do i need to see a solicitor.

Hi David - You need to look at your proposal - and read what it states. You also need to contact your IP direct - to find out how they have come to an amount you owe. I assume you have submitted I+E form throughout your IVA?

The IVA payments are based on your disposible income - so can rise/fall during the life of the IVA.
However do remember you will always owe the full debt including fees until you IVA is concluded and finished.

Hi David and welcome! Have you been submitting your payslips for annual reviews? You would have had to notify your firm whenever your salary increased and they then advise at the annual review how much you need to pay over after increases in expenditure are accounted for. You also need to notify them when your expenditure increases as they have the right to challenge this. I would say your IP is lax in only noticing your arrears now but you will have to repay any additional monies owed. It would all have been in the proposal or creditor modifications which yu signed. Sorry I can't give you any better news. If they retrospectively agree to your expenditure increases there may be nothing to pay. xx

Welcome David,

Firstly well done for coming so far in your IVA & Im sorry to have hit this hurdle. Your IP should of been requesting & monitoring your wage slips & a annual review each year where you address your Income & expenditure.
Im going through my 3rd year review & this is the first year that I have not submitted any changes. My husband has had small pay increases in previous years, but in our situation our I&E was set at a unrealistic rate & we were allowed to swallow the pay rises in expenditure, keeping our IVA payment the same.
Did you make them aware of your changes in I&E & let them know of the increases in wages?

If you have been sending in all the relative paperwork each review like payslips etc then this is clearly their fault if they should have increased your payments.
I had a good payrise last year & expected my IVA contribution to be increased, however upon my review they said my contributions were to remain the same but just to pay 50% of anything above my original proposal.

So I dont think you should owe them anything as it appears its their mistake.

Hi pm5...it doesn't sound as if they have made a mistake; it sounds from your post as if they have asked for 50% of your salary increase on a month by month basis rather than adjusting your official contribution amount.