Paying the maximum in my Iva

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joe153

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Post by joe153 » Thu Oct 29, 2020 6:57 am
Hi,

I have an IVA and have 23 months left, the company I had my original IVA was passed over to a new company some time ago, they did a review a year or so ago but it was terrible communication so Id emailed to say I would increase my monthly payment from £90 - £150 which I could afford without providing any payslip/bank statements.

I now have 23 months left and I've worked out I can pay the max each month, so I offered this when the review came back around (it was a few months late as once again they ignored my emails and just sent auto emails).

They're now asking for detail such as bank statements etc which I don't understand as I have agreed to pay the max.

I find the whole thing very confusing and the communication & support awful.

Can they make me pay above the max and should I send further detail if I'm offering to do pay the max?

kallis3

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Post by kallis3 » Thu Oct 29, 2020 8:38 am
Hi,

You do need to submit bank statements so they can check you haven't received a windfall or unexplained entries into your account. If you were able to increase your payments, they may not have been set correctly in the first place.

Are you now with Jarvis by any chance? They are notoriously bad at communication.
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

joe153

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Post by joe153 » Thu Oct 29, 2020 8:51 am
Hi, thanks for getting back to me.

Its Creditfix but it was a previous company before but its just been really crap comms and no explanation.

So just to confirm they cannot charge my over the allowance? I've had no lotto win or windfall sadly, otherwise I would gladly pay it off!

kallis3

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Post by kallis3 » Thu Oct 29, 2020 9:14 am
They will do your I&E and assess the payments from that. CF are also bad at communication and play by their own rules sometimes. We cannot say what they will do with your payments. It all goes down to disposable income after your bills have been paid. There is no maximum.
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

Foggy

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Post by Foggy » Thu Oct 29, 2020 10:04 am
The bottom line is that it is not your place to be making offers, or deciding the maximum available, it is theirs ! This is why they are asking for statements etc. In a nutshell, they work out your total regular income from payslips, statements, P60's etc, then take off what they deem, or what you can prove, to be reasonable living expenses. What is left is your payment. On top of that they can also lay claim to around half of any overtime or bonus payments each month, as well as windfalls of any signifigance (lottery wins, inheritances and the like).
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

joe153

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Post by joe153 » Thu Oct 29, 2020 10:10 am
Seems very messy, as its switched company I've never had any updated paperwork. I've asked for my original paperwork etc and will see what happens.

Thanks everyone, I've got more help & info from this forum than credit fix have any provided.

kallis3

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Post by kallis3 » Thu Oct 29, 2020 10:30 am
Do you have your original paperwork from your original company? You need to go through it if you have.
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

joe153

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Post by joe153 » Thu Oct 29, 2020 10:46 am
Hi,

I've attempted to dig out and have requested this from Creditfix but unsure if they even have it?
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