www.iva.co.uk

Hi i have just completed my 4th year in an IVA and up until now has been ok ,I have never been contacted during my iva, my company has changed hands 3 times, , they wrote to me recently asking for my wage slips etc , which I sent in again although already previously sent, i also sent in a letter explaining the reason for the overtime etc

I have also thanks to my brother offered a full and final settlement based on the full outstanding amount of just over 5.5k.

They have come back to me saying that I have underpaid by 16k???, i have earned alot of overtime but this is what has paid my fuel bills for the last few years due to a relocation i drive 140 miles a day to and from work.we also have had a second child and stuff and had a boiler replacement.



I offered to go and see them and explain this but was told i cant go to there offices, my hearing for the full and final settlement is next week, and they have said I should await the out come of this, although I wouldent accept it they way its been worded, as it says i owe 16k.

so my question is where now , they said if it gets refused they can look at extending to a 7 year iva, i have not got a secret 16 k hiding away, and assumed that all was ok as i sent a letter explaining this over 3 years ago, and what have they been doing if they have not been reviewing this???

I have kept my end of the deal and sent everything as is should, i feel due to the company changing hands 3 times little or no interest has been taken in the clients

What a mess, interested in your comments good or bad , i have requested all of my previous yearly reports as i have never received one

Did you contact your IVA firm each time you earned overtime? Did they do any annual reviews with you and have they asked you each year for wage slips etc?

the overtime thing was there from the start it is up and down all the time , 1 good month then normal, every year i have provided wage slips, p60's with a breakdown and what the extra income has been used for , i even spoke to them as i sat there waiting to confirm was the payment staying the same, going up etc, it has stayed the same for 4 years.

I even have an email confirming receipt of the paperwork and everything is okay , annual reviews i assume yes they must have done, they have to under the agreement???

I have never had a copy, but when you get an email confirming all is ok and on track i am think one year left nearly there!!!

When you earn overtime you are supposed to pay across 50% as it will state in your proposal and this has to be paid within 14 days of receiving it, your Ip doesn't have the time to review your payslip each month and check you have been sticking to what it says in your proposal, there is an element of trust that you will stick to your side of the deal so to speak.

Having said that, this should have been picked up at annual reviews which it hasn't, so where does that now leave you?

Regarding changes in circumstances such as having another child, relocation and your expenditure increasing, this again should have been communicated to your iva company on each and every occasion so your budget could have been amended accordingly and new expenditure agreed. As it stands this will have to be looked into now so hopefully some of that 16k can be cut down if you can prove with receipts etc the extra expenditure you have had and when.

Otherwise then yes it will need to be paid back.

If your IVA company has done your annual reviews for the past 4 years and told you that your payments were OK and you've provided wage slips and P60's etc detailing the overtime, then you should not have anything else to pay. Your IP should've advised you at the time of the annual review if there was anything else left to pay. You need to speak to your IP direct about this because something is not right here. They can't simply whack you with a massive bill of £16k due to their cock up. If you have emails etc confirming your payments are to remain the same, then I suggest you keep them to use as your defense. You've complied with the terms of the Arrangement and by the sounds of things your provider hasn't, You need to fight your corner here! Good luck!

Hi this is my point if i send everything in why was in not picked up from the p60 even if this was a warning or whatever so i could again explain.

I have sent a breakdown and have confirmation everything was ok, the 14 day thing i was told to put in an account and pay at the end of year because of the fluctulations, the first IVA company seems to have quite a flexible approach and to be honest noone else has paid much interest since.

I understand the IVA company doesnt have time to review each month and I would not expect them to , but 4 times in 4 years is a reasonable request, how can they review my wage slips and not question how much I am paying, I assume they see my wage slips and read my accompanying letter and this is all ok?

Again the birth of my second child was updated as this was part of the I&E aswell as confiming the new boiler with receipts etc

I i spend about £150 a week on diesel and can easily justify the expense, they said a a query would be why did i not use the train??, I cant, i am framework contractor on 24 hour calll out for a 2 hour response for emergency works, so I am getting my employer now to confirm this to.

Its quite frustrating really ,its making me feel like i have all this money sitting there which we dont, we have had nightmares and its been a real struggle and to be honest a real learning curve, i cant wait till the day when my wife isnt spending hours on ebay searching for little toys and luxuries for the kids that dont look used or are still in a box

I asked who the regulator was to contact if i had concerns and they could not even tell me.

I am sure it will be resolved, but i am thinking i am in my last year and they are talking about it going 7!!!!!

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by ClareSilver

If your IVA company has done your annual reviews for the past 4 years and told you that your payments were OK and you've provided wage slips and P60's etc detailing the overtime, then you should not have anything else to pay. Your IP should've advised you at the time of the annual review if there was anything else left to pay. You need to speak to your IP direct about this because something is not right here. They can't simply whack you with a massive bill of £16k due to their cock up. If you have emails etc confirming your payments are to remain the same, then I suggest you keep them to use as your defense. You've complied with the terms of the Arrangement and by the sounds of things your provider hasn't, You need to fight your corner here! Good luck!

Hi claresilver, if it makes sense i am exhausted for the battle its like seeing the finish line and then being told sorry there a mistake you still have 20 miles left, i have no choice but to battle but life is a battle already.

i hope the 5.5 k settlement gets agreed and we go from there, otherwise roll mt sleeves up and dig in [V]

Hi there
I posted something similar last week regarding
Bonuses i had earned over past 3 years. I have always declared
These at annual reviews but my supervisor changed recently and now they are saying
I owe them money. What company are you with? My original post was titled 'stressed'.

Hi Lisa just read your post and it sounds similar although its been hard I have not missed any payments but feel the staff I am dealing with are under trained or don't understand about Iva's and my concerns about how this will be resolved are a bit if a panic. I am not comfortable with this and was told quite directly I could not meet face to face, it makes me feel like they are pushing for 7 years do they benefit from me doing it for 7 years??

I don't want to name the company yet as this is a major website and feel I need to see if the f&f gets accepted first and give them the benefit of the doubt to try and get this resolved

If things go wrong or get difficult I will name but I don't want to upset this company at this stage we are stressed enough I hope when they review this will get sorted

Lessons learnt I would have made sure I get my report every year and less trusting with phone conversations and got stuff in writing

Good luck keep us updated. Im still waiting the outcome of my review, hopefully
Things will sort themselves out.

There is something really not right here. Are you saying that you hav never received a copy of an annual report - or beem advised whether there is anything additional you have to pay into the IVA? Which firm are you with?

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

There is something really not right here. Are you saying that you hav never received a copy of an annual report - or beem advised whether there is anything additional you have to pay into the IVA? Which firm are you with?

Hi Melanie never received them and never been requested to increase or reduce payment I think it is only the fact I have requested for a full and final settlement they have actually looked at my case, i would rather not say the company as i feel very much the power is with them for the minute and to be fair to them I would like to give them the opportunity to sort it out and to be fair it is has obviously only just come to light they have not been in contact for 4 years, if they are viewing this website I am concerned it may make waves for me , if i dont get any joy and sensible resolution i will of course be posting a more detailed turn of events

Just to add i also know someone else who has 3 months left and has also never been contacted by his iva company since the start

If you've never received a copy of your annual report and to your knowledge the annual reviews haven't been done, then your IVA company has failed and is in breach. You're not because you've done everything you possible can. You need to speak to your IP about this straight away.

Hi I am half way through my IVA now and have never been contacted by my IP since making my first payment??
I have not had an annual review or been asked for an update on my circumstances, anyone else in the same boat?? I have had statements from some of my creditors stating what they have been paid back though.

Your IP should be conducting an annual review (unless for some bizarre reason it says in your proposal that they don't have to, however I very much doubt it). Your IP is failing in his/her duties if they don't do it.