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Hi,I,m on IVA for 4 month and just now have a letter from HMRC that I been overpaid on my child tax credit,what should I do?

Hi Kate,

Don't worry too much what HMRC tend to do is adjust future entitlements i.e lower them to account for the overpayment. This will obviously mean a drop in your income so you should talk to your IP and explain what has happened.

Sorry I am assuming that you still have a valid claim to CTC at the momement.

Agree with the above - have a chat with your IP about this.

I had been ovepaid too and as it was our last claim with them I made an arrangement to pay them what I could afford a month which was £3. Dont worry there is always a solution they cant get blood out of a stone can they.Contact them and tell them of your situation and come to and amicable agreement if its still ongoing as someone said they will probably adjust your payments but its worth talking to them anyway if this will make it difficult to manage financially.
Karen[;)]

Its quite common for people to be overpaid Child tax credit. Your Insolvency Practitioner (IP) will no doubt have dealt with this issue countless times before. Once you have established what the changes to your payments will be give your IP a call and they should be able to help.

Let us know how you get on.

Hi Kate - more often than not tax credits need recalculating for one reason or another. Inform your IP asap and work out between them how much you can have available to repay the overpayment as this will eat into your budget and affect your affordability for your IVA. Your IP should be able to make alterations to your IVA payment within 15% of the original amount but do check as it depends on the details of your arrangement.

Hope you get something resolved soon - Keep us informed how you get on as I'm sure many other posters in IVAs may come across the same problem and will be keen to know what the outcome is.

Regards,

Hi everyone,thanks God that I found a forum like this one,I got lots of info now,also about CTC if you can help with that
well I'm just gonna to have IVA even not sign the form yet, just had a phone conversation,when I saw that topic and started to think what to do,I got a lots of credits and income support as well,phoned them and told that I gonna to have IVA they told o'k we will wait for your IP to contact us,well I just think if I got income support overpaid then I may have a CTC overpaid as well but this will appear in april or later,well what should I do now,may be to wait if creditors agree for a small payments or just to go on IVA now,I dont know what to do and this is nightmare,I cant sleep cant do anything right ,please help

pleaseeeee what do you think about it???[:(]

Hi Kitten - if you haven't started your IVA yet and you are only at the beginning then any overpayment can go into the IVA as a creditor. You need to be clear on how much you have been overpaid, whether you are now repaying it already and what your receipts would be if there had been no overpayment.

Get good proper advice (hopefully you are getting that with whomever you are dealing with) and then you have a chance of a better night's sleep.

Remember you can speak to a couple more companies first if you are not completely sure or comfortable.

Regards,