Car and payplan

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SuzieM79

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Post by SuzieM79 » Tue Jun 29, 2010 3:51 pm
Well this saga seems to have been going on a while i had previously posted under another logon, but had not been for a while and couldn’t remember name or password so am starting on here a fresh, and i really need some advice as don’t know what to do for the best.

I have an IVA and the IP is pay plan, after reading another recent post about them as well i am becoming even more worried, i thought it was just me clashing a bit with my case worker but now i am not so sure...

my IVA was agreed in November last year, part of that agreement was that i sell my car have up to £3000 to get a car with the remainder of the sum going into my IVA. I had no problem with this, but at the time before the initial meeting i did tell my then case worker that my car was not worth as much as was detailed on the paperwork, they had just taken parkers top whack and hadn’t taken into account condition or mileage!!!

anyway tried to sell my car for £5k, so i could at least pay in a reasonable amount, no joy. I missed the deadline for selling it so they called another meeting and that gave me till 28th August. Had some issues and work done on car since then and started trawling round dealers, sign up in car and on notice boards at work etc... Still no joy.

so i went to a recommended dealer locally and asked him what he would sell for, he sat with me for ages and we went through everything that needs doing, its condition and mileage and he said privately i would get £3600. I emailed my case officer, and told her this and asked the question could i put in the £600-700 and not sell the car, at the time of the first creditors meeting this was hinted at by the chairman when i was called, that if i could provide valuation i maybe able to do this.

Case officer has now come back and said without saying a lot that if i can only sell for £3600 that doesn’t matter its just in the agreement that i have to sell keep 3k and put the rest in the IVA.

I really don’t know what to do now, car now needs a service i have less than 2 months to figure it out and feeling like i am getting no support whatsoever. It is getting to the point where i am not sleeping properly again and not focusing at work.

Please can someone point me in a direction, everything else with the IVA has been fine, I have let them know when pay has gone up, when I got a bonus etc, and I am living on what has been agreed I don’t want it to fail for just this.

Sorry about the really long post I just needed to get this all off my chest

Suzie
 
 

Michael Peoples

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Post by Michael Peoples » Tue Jun 29, 2010 4:07 pm
Hi Suzie and welcome back.
You seem to have complied with everything required of you and to be honest it seems illogical for you to sell the car now. Surely if you provided Payplan with the valuation from the dealer they could contact creditors and advise them of the reality of the situation. You could offer 1. £600 from your share of overtime and bonuses so creditors do not lose out. 2. A third party lump sum of £600 in return for keeping the vehicle[if this is possible]. 3. A short extension to the IVA for you to bring in £600 if this has not be done so already.

Try and speak to someone at Payplan or email the IP directly. You should not have to spend sleepless nights trying to comply with a modification that raises very little for creditors and indeed may cause problems down the line if you have to buy a less reliable vehicle.
Last edited by Michael Peoples on Tue Jun 29, 2010 4:07 pm, edited 1 time in total.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

SuzieM79

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Post by SuzieM79 » Tue Jun 29, 2010 4:11 pm
Michael,

Thank you for this, when i emailed my case officer i attatched the quote from the dealer, and asked if i could pay this in as a seperate lump sum, rather than selling the car.

I will reply to her email tonight again, and reitterate the options you have laid out. i will also reitterate that this was hinted at by the chairman after the initial meeting.

Thank you again
Suzie
 
 

Michael Peoples

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Post by Michael Peoples » Tue Jun 29, 2010 4:36 pm
We record all conversations at the meeting of creditors and I am sure Payplan do also. If your case manager does not comply with your reasonable request demand a copy of the tape.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

kallis3

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Post by kallis3 » Tue Jun 29, 2010 4:39 pm
I'm surpised that you were made to sell your car. We are with Payplan, our car was worth £8k when we entered the IVA and no mention of us having to sell it.

As Michael says, contact your IP direct via this link:

http://www.insolvency-service.co.uk/newipsearch.htm
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

MelanieGiles

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Post by MelanieGiles » Wed Jun 30, 2010 12:56 am
I am amazed that this car was ever required to be sold in the first place, when it is of relatively low value and is needed to last for 5 years. A shame that your IP firm did not fight a bit harder for you on this point at the time of the creditors meeting.
Regards, Melanie Giles, Insolvency Practitioner
 
 

SuzieM79

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Post by SuzieM79 » Wed Jun 30, 2010 10:32 am
Thank you all for your suggestions and help, i am going to get all the paprwork out this weekend and then get back to them with a clear head in a couple of days, i am so frustrated at the moment that it wont get me anywhere.

Thanks again
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