yearly review

[tristan]

im in a iva currently paying 663 a month had my first year reviewthey wanted to up the payments to £750 a month because of new creditors adding more on i said i cant afford the extra so they extended it by 9 months not happy

[aguise]

Hi Tristan and welcome
How much extra had to be added, and does this still give the same pence in the pound agreed at your meeting.

Ang

[tristan]

not to sure im with blair endersby ive had no proper contact with these people they said ive got 3 options

1-appeal but its not worth it
2-up the payments
3-extend the length of payments
blair says this can only happen in the first year is this true

[Lisa2009]

In most cases, IPs like to get all creditor claims in within the 1st year so i think its quite normal.

mrs skint

[aguise]

If it only offers the same return as the original offer to creditors then though upsetting it does relieve you of these debts as well. I would appeal if it gives more than the original pence in the pound offer and offer that, the end choice is yours if you cannot afford the raised payments then, I would opt to pay the extra few months.
Tristan this is only my opinion so please wait for Melanie or one of the qualified experts to reply.
It must be disheartening to have the extension, very unfortunate they were missed at the beginning.

Ang

[MelanieGiles]

"im with blair endersby ive had no proper contact with these people"

For anyone reading my exchanges with J-Doublya yesterday evening this issues goes somewhat to strengthen my points. No proper contact with the IP or his/her senior staff, which is frequently reported on this forum, and which I know is a fact in many of the larger firms (including the so called charities), leads to problems such as this.

If this firm had correctly researched this case, and verified creditor balances prior to preparing their client's proposal, occurances like this would be kept to a minimum.

I suggest that you ask your IP to send you detailed statements of account from the creditors concerned and that you compare the amounts they are claiming to the figures you provided to this firm - so try and identify why there is a large difference. Assuming the balances claimed are correct, rather than struggling for the next five years to pay unaffordable payments, I would ask your IP to call a variation meeting for you to either extend the term or pay a reduced dividend. They probably do not have the ambit to extend for 9 months without creditor agreement, but you will need to check the exact terms of your IVA to be sure.

[tristan]

is there anybody on here that has there iva with blair endersby.is it possible to change to a different iva firm [:(!]

[MelanieGiles]

I am afraid that it is nigh impossible for a debtor to change IP firm Tristan once an IVA has been accepted. This is why it is so important to choose the right firm in the first place to represent you, and it always pays to try two or three differemt companies to compare the advice and quality of client service. After all, you are with that IP for a long time!