Dear iva.co.uk!!
I wonder if you can help me here.
I am in a situation where I have been in a 3-year IVA that was approved in Feb 2004 . As of the final creditors meeting then, the total amount of just over £31,600 were submitted to the court and it was agreed that I was to pay 100p in the pound to my creditors.
I had already started making payments 2 months before it was approved but in total I made a further 34 payments from Feburary 2004 to November 2004. In total my IP says total assets collected from me is 37,230.00 and he is, as both supervisor and nominee, on the case, claiming a total of £5,020 in fees and expenses. In January 2007 my IP is asking for a further £1,363 from me, claiming that he had underpaid one of the creditors due to administrative error in the second year of my IVA. If I don't pay, he'll bankrupt me despite my making 36 payments, and will not give me letter of satisfaction.
I'm wondering, well if he underpaid one creditor, there is more than enough in the pot to bring the creditor up to date as long as he wasn't overpaying another creditor. I have asked him to give me a breakdown of how the moneys have been paid in totals not as dividend analysis as I find them confusing. Simple arithmetic tells me that 37,230 - 31,600 - 5,020 leaves a balance of over £600 which I believe is owed to me.
Letters have been going back and forth over the past four weeks and no solution in sight. He is still insisting that I further pay 1,636. I have worked hard and paid my debt in full and unless the creditors have increased the amounts, I shouldn't be paying more. Yet I'm still under the threat of being made bankrupt for money I don't believe I owe. What can I do?
