IVA breach??

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Phoenix11

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Joined: Sat Jun 09, 2018 6:19 am

Post by Phoenix11 » Sat Jun 09, 2018 8:25 am
Hi,
I have just been told that I am in breach of my IVA after having my 2nd review. When my IVA was set up the creditors agreed to the IVA providing my wife sought work and or benefits. My wife is 62 years old and has bad arthritis in he fingers.
After the first year of the IVA the review went through fine without any mention of these modifications.
Now at the 2nd review they are enforcing them.
Also they keep putting companies in touch with me to claim PPI etc.
I know for a fact they have received £10,000 for which I have not been told about by them.
They have never sent me any receipts or statements for monies paid at all.

Now they have given my 1 month to rectify these modifications or the creditors will cancel the IVA

Please could you advise me on the best way forward because I am thinking of BR.
Would I lose my house which still has 4yrs mortgage left on it?

Kind regards
Andrew

Foggy

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Post by Foggy » Sat Jun 09, 2018 8:38 am
Phoenix11 wrote:
Hi,
I have just been told that I am in breach of my IVA after having my 2nd review. When my IVA was set up the creditors agreed to the IVA providing my wife sought work and or benefits. My wife is 62 years old and has bad arthritis in he fingers.
After the first year of the IVA the review went through fine without any mention of these modifications.
Now at the 2nd review they are enforcing them.
Also they keep putting companies in touch with me to claim PPI etc.
I know for a fact they have received £10,000 for which I have not been told about by them.
They have never sent me any receipts or statements for monies paid at all.

Now they have given my 1 month to rectify these modifications or the creditors will cancel the IVA

Please could you advise me on the best way forward because I am thinking of BR.
Would I lose my house which still has 4yrs mortgage left on it?

Kind regards
Andrew
Everybody is getting PPI claims and PPI is an asset of the IVA and must be claimed. Non-compliance here could see the IVA failed. They will account for these monies on request, you are entitled to see how the monies are being dealt with.
Regarding these conditions re. work and benefits: You agreed, regardless of the age that work and / or benefits would be sought (not obtained, according to your quote of the clause wording ). Has she sought these things ? If not, then, yes, you are in breach. You might get a "stay of execution" if you start the process now and keep the IP in the loop. If it is, indeed, an "either / or" choice, benefits would be the easier to track, prove and either get the benefit or refusal in short order. Your local CAB can advise as to what benefits are available to her (If they say "none" I would have thought that would show that you tried, as per the agreement, and were unlucky --- you will have then complied!).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Foggy

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Post by Foggy » Sat Jun 09, 2018 8:41 am
By the way --- I have taken the liberty of removing your surname from your post as it gives anyone reading the ability to determine your personal details via the Insolvency Register.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lisa Thomas

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Post by Lisa Thomas » Mon Jun 11, 2018 8:43 am
Your IP has to send you an annual report within 2 months of each anniversary which will include details of all the Receipts & Payments in your IVA. They do not have to tell you each time they receive a receipt.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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