I am due to finish my iva this month

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Post by racheal.4 » Thu May 27, 2010 3:23 pm
I am due to finish my iva this month, i have paid £500 per month for 5 years, as you can imagine im feeling pretty good, that was until my iva company called me this morning and said that because my car payments stopped a year ago (this was £150 per month) and i didnt pay that extra £150 into my iva, i need to contnue with the iva for a further year, however i called the iva company a year ago and explained that the extra £150 was to be paid towards rent, heating, water rates etc. This was agreed and that was that, NOW they are saying that the lady i agreed this with no longer works for them and they want their money...Can they do this?? I have paid £500 a month for 5 years...its a joke!!


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Post by Shining » Thu May 27, 2010 3:44 pm
Hi Rachael and welcome to the forum. Do you have any correspondence at all to confirm the extra monies went onto extra expenditure. It's a fact everything has risen sharply this past year.

I'm not a professional and can't really comment but we'll keep this bumped up for a professional opinion. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.

Michael Peoples

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Post by Michael Peoples » Thu May 27, 2010 4:02 pm
Hi Racheal and welcome to the Forum.
This sounds a bit strange if someone else agreed it but it may be that they did not have the power to authorise this. If there is a minimum dividend you will have to carry on unless your IP calls a variation to close it down. It may be worth asking since at least part of the mistake may rest with the IP firm.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com


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Post by rayb » Thu May 27, 2010 4:09 pm

I would speak directly to your IP concerning this and not the Office Staff.

If this was indeed agreed then there must be a computer or phone record of this which can be used which will back you up.


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Post by PELDER » Thu May 27, 2010 8:58 pm
What IP are you with Racheal? I know that some firms record every phone call dialled and received (DFD claim too!),so as Rayb says, if they have a recording of that call you should be in the clear.I have found out that during my own IVA, correspondence from my IP whether it be via e-mail or post dries up virtually completely after IVA acceptance and they then seem to prefer to confirm queries and answer questions by phone as they don't reply to e-mails and letters 90% of the time so you have to rely on whatever somebody on the other end of the phone tells you, which you cannot prove further down the line,(if you are having problems) unless the IP can locate the phone call - this is highly unsatisfactory and I cannot see why all queries made during the duration of an IVA cannot be confirmed by e-mail at least so that we can print and store the answer for future reference.


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Post by Julie » Thu May 27, 2010 9:07 pm
Racheal wasn't the extra money from the car payments built into the proposal?

If not, then fight it all the way. Email your IP direct xx


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Post by MelanieGiles » Fri May 28, 2010 1:05 am
This highlights the need to always get important decisions confirmed in writing and preferably by the IP personally. If the proposal provided for stepped payments, then it should have been formally varied to take account of your increased expenditure at the time.
Regards, Melanie Giles, Insolvency Practitioner
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