I missed an IVA payment

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Thedarkcall
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by Thedarkcall » Wed Sep 06, 2017 5:16 am
Hi,
I've been in an IVA for 5 months now, with ARM insolvency.
I missed a payment on the 10th of august last month and have been trying to contact my IP since
It's been well over a month and everytime I call I get passed around from person to person and then get told I'd get a call back
I've not received a 30 day note of default to catch up either
Any advice?
Thanks
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Foggy
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by Foggy » Wed Sep 06, 2017 6:45 am
You can miss up to three payments without prior agreement before the arrangement is breached. If not before, the missed payment will (should) be picked up at the annual review and you will be either asked to pay it in or it will be added on to the end of the term. Keep copies of any emails (and make a note of any calls) regarding this.
Thedarkcall
Posts: 4
by Thedarkcall » Wed Sep 06, 2017 6:47 am
Thank you for the advice Foggy!

Just getting the run around trying to catch it up! It was a bank error that means it was missed and they wont take my call to solve it!

-TDC
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kallis3
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by kallis3 » Wed Sep 06, 2017 7:25 am
If you have their bank details you could always do a bank transfer or send a cheque via recorded delivery.
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Foggy
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by Foggy » Wed Sep 06, 2017 7:53 am
I would go "old school" and send a letter direct to the IP by recorded delivery (keeping a copy and the proof of delivery).
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Michael Peoples
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by Michael Peoples » Wed Sep 06, 2017 8:23 am
I must say I am surprised as most firms take debit card payments and so this could be sorted quickly. They would also have credit control departments so someone should be looking to collect the money.
Thedarkcall
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by Thedarkcall » Wed Sep 06, 2017 8:38 am
The problem is that you actually have to get through to the IP or your Supervising member to pay as they reject cheques and require you to be in a call with them to take a payment, they were very specific about this when I first got my IVA sorted as they're a small firm (10 employees) In all honesty I was worried they were going to scam me or something as I was going through the process and I'm still not 100% but I've managed to get all my creditors sorted and involved so I can't complain I'm just annoyed they keep passing me around each employee before I get told I'll get a call back and then never do.
I'll try writing to my IP recorded etc

As for credit control I have no idea
-TDC
Thedarkcall
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by Thedarkcall » Wed Sep 06, 2017 12:26 pm
Foggy wrote:
I would go "old school" and send a letter direct to the IP by recorded delivery (keeping a copy and the proof of delivery).

"Dear Mr XXX

We write to confirm that as part of your IVA we have a duty to recover any assets which you may have. Mis-sold payment protection insurance (PPI) claims fall into this category.

ARM Insolvency Limited are not licenced to handle PPI claims so we have instructed an independent regulated claims management company called Financial Claims Advice (FCA) to handle your potential PPI mis-selling claims.

FCA will be contacting you within the next 48 hours to investigate your possible PPI claims.

Please assist with all their requests in relation to your claims as failure to complete this process could have the effect of causing you to default on the IVA.

For your security and peace of mind, we have provided them with a password to speak to you so you can be confident you are speaking to the correct company."

Is this legitimate?
-TDC
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Foggy
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by Foggy » Wed Sep 06, 2017 12:39 pm
Thedarkcall wrote:
Foggy wrote:
I would go "old school" and send a letter direct to the IP by recorded delivery (keeping a copy and the proof of delivery).

"Dear Mr XXX

We write to confirm that as part of your IVA we have a duty to recover any assets which you may have. Mis-sold payment protection insurance (PPI) claims fall into this category.

ARM Insolvency Limited are not licenced to handle PPI claims so we have instructed an independent regulated claims management company called Financial Claims Advice (FCA) to handle your potential PPI mis-selling claims.

FCA will be contacting you within the next 48 hours to investigate your possible PPI claims.

Please assist with all their requests in relation to your claims as failure to complete this process could have the effect of causing you to default on the IVA.

For your security and peace of mind, we have provided them with a password to speak to you so you can be confident you are speaking to the correct company."

Is this legitimate?
-TDC



Yes, it is. PPI has to be investigated and refunds are due to the IVA. Even if you were to do this yourself, saving any fees, the money would still have to go to the IVA.

I have taken the liberty of editing the name from the letter posted.
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Lisa Thomas
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by Lisa Thomas » Wed Sep 06, 2017 1:57 pm
Who is your IP? If you don't have an e-mail address for them there are 3 employees on Linked In - Dean Smith, Roy Anderson and Dominic Mansfield. You could connect and message them through there before going to the hassle of sending a letter.
Dean Smith - I P
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by Dean Smith - I P » Thu Sep 07, 2017 9:02 am
Hi, I am the IP at ARM, and this can be easily resolved, please e-mail: supervisory@arminsolvency.co.uk

Please include "IVA.co.uk" in the subject/title line and I will ensure it is dealt with promptly. I wasn't aware of your difficulties, and apologise for these, it should not have happened.

Kind regards

Dean
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Michael Peoples
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by Michael Peoples » Thu Sep 07, 2017 9:10 am
Hello Dean and good to see you on the forum. Not many IPs deal with things themselves and most seem to live in ivory towers so good to see that the smaller firms still have that personal contact with their supervisors. We have four IPs and every one will deal directly with clients as ultimately the clients pay the wages.
Dean Smith - I P
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by Dean Smith - I P » Thu Sep 07, 2017 9:47 am
Thanks Michael,

I've not seen any Ivory Towers since the days when I worked for PWC. I am always happy to get involved where needed, however to be honest I have a very strong hand picked team around me who know far better than I where our clients cases are at. I find they are typically better placed to resolve the concerns and queries quicker and more efficiently as they work at the coal-face so to speak, hence the suggestion to e-mail us. I have one of my best people waiting to resolve this anomaly.

Regards

Dean
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Foggy
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by Foggy » Thu Sep 07, 2017 10:03 am
Hello Dean and welcome. I echo Michael's thoughts and it is good to see an IP stepping in (and stepping up). Many of the problems we hear about boil down to communication problems (on both sides) and keeping an eye on the forum is a good way to pick some of these up.
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kallis3
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by kallis3 » Thu Sep 07, 2017 10:27 am
Welcome from me as well. Good to see another IP on the forum.
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