I had an IVA with Freeman Jones which started in 2013, paying back £100 a month, it was supposed to last for five years, I have had a few letters from them in the last few weeks, 1 thanking me for my annual review,1 saying that I owe £4.530.86 due to extra money earned while I was in my previous job, what do i do ? I am now a self employed dog walker and carer for my elderly mother and have not got the money Freeman Jones want, any advice would be great
If you earned extra money you should have told them about it. The only thing you can do is offer to make payments to them to make up the shortfall.. Freeman Jones do have a representative on here so hopefully he will pick up on this.
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
Thanks for the post. Clearly, I don't have the details of your IVA in front of me, but if you submitted payslips to us that showed that you were earning more that your 'allowed income' then that is how these additional monies could have built up. We encourage customers to deal with additional monies as they go through their IVA, to avoid a lump sum like this developing. If you can't afford to pay the lump sum in - which is obviously usually the case - then quite often the end of your IVA is extended for you to pay the money in.
However, all this assumes that the money is due. I am not clear from your post whether you've spoken to us in detail, but that really is the next step. We can run through your income and expenditure with you. For example if your expenses increased around the time you started earning more (perhaps travelling further to a new job), this may offset some of the extra earnings.
We want to help you get to the successful conclusion of your IVA - and will work with you to try and find a route through this that works for you. If you'd like to do me an email to ian.williams at FreemanJones.com we can arrange a time for a colleague to call you to discuss the way forward. Ian