Where do I stand on this

[bazc]

I have a current IVA which I have been paying in £272 per month for the 1st year then this payment should have increased to £472 once a car on finance was paid. Unfortunately in July 2006 I have a serious traffic accident in this car and it was writen off. I informed the IVA company in September in my anual review and pointed out to them that I had been in an accident etc and was now on a basic wage from work. This factor together with the fact that my wife had stopped working and was now a full time student and in receipt of a student bursary that was £500 less than her previous part-time wage that the IVA was worked out on. When this change occured the IVA company were informed of this change. Neither of these factors were taken into account by the IVA company who have now stated that I am in breach of the IVA and have sent an anual report as such to the creditors and court. Where do I stand on this as I feel that the IVA company have failed to act on the changes of circumstances etc? Pre Accident it was not unusual for me to earn between £900- £1000 per month in overtime, but at this time I am still unable to do extra hours etc due to injuries etc.

Sorry for the long winded basic facts and the questions.

Cannot become bankrupt as will lose job.

Also who can I complain too regarding the conduct and failure of the IVA company in acting on these changes of circumstances.

[MelanieGiles]

Hi bazc and welcome to the forum

Your IP company should have advised you whether it would be worth offering a variation to the terms of your arrangement in order to accomodate your recent changes in circumstances.

I can understand the car issue - obviously this occured as a result of unplanned circumstances outside of your control, but clearly your wife giving up work was planned and could possibly have been avoided. Is she in an IVA as well?

If you feel that you have been badly treated by your IP company, and if they have ignored correspondence you have sent to them to explain your circumstances, you should firstly enquire as to their internal complaints procedure and identify the name of the person who deals with such matters. Then write a letter explaining your concerns, asking him/her to investigate the matter on your behalf.

Matters like this usually result from communication difficulties, and are generally resolved with little fuss.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[jpj]

Hi Bazc..welcome to the forum.
If your accident happened in july 06 and you had a review in sept 06 how has your IVA managed to keep going until now?? surely the matter was raised in your annual report of sep 2006? (over a year ago!) I presume you have missed 3 monthly payments?

[Soulgrowth]

Hi bazc ... one of the things with an IVA (rightly so) is that for quite a long period of time you feel as though a financial "big brother" is watching over you and so, whilst the situation with the car was awful and completely unavoidable that you have CHOSEN for your income to go down (i.e your wife giving up work) is perhaps something that should have been thought about in terms of affordibility in view of your commitment to the IVA.

Presumably the car was insured and now you are not having to pay the finance payments ... does this equate with your lower earnings now?

How tight was your IVA initially e.g how many pence were you paying in £1 ... could it have been that your IP might have seen it would fail and that it wasn't worth looking for a variation.

Just some thoughts ...

All the best though ... to every problem there is a solution.

Debbie

www.familyceremonies.co.uk

www.soulgrowth.co.uk