Hi.
I am currently in an IVA through Payplan. I have had numerous problems with them over the last 4.5 years I have been in it. I needed a new creditors meeting and it took 15 months for them to arrange (despite constant nagging. Then I got diagnosed with a long term medical condition (missed about 6 months) got back on track last Feb whereupon I agreed a new budget and payment plan for the arrears.
Last June I had my annual review letter showing how much I had paid in to date and the amount paid to creditors £3300 in and only £70 to creditors. I owe 16k in debts and my plan shows that I am due to pay Payplan over 14k of this back (according to original plan). Does this seem normal in terms of money they are taking v's the amount that the creditors are receiving. I have queried this and told it is correct. Plan due to end Nov 2020 after an extension.
In Jan this year I became hounded by Payplan with letters/emails/phone calls almost daily harassing me over the arrears. Being slightly confused that my last payment hadn't gone through I checked to see what they meant.. It was the six month arrears that they were chasing me for...the same arrears I have been paying off over the last 11 months without complaint by them. They have since requested a budget meeting (they decided that they couldn't do the times I need around work) and therefore we hit a stalemate two weeks ago with me waiting for an appointment time from them. SO I have now had an email saying that my IVA is being failed. I have 7 days to give them an up to date budget, a separate plan to pay arrears £900 and they will take it back to the supervisor to see if they will accept or ask for another extension or bankrupt me. Please note I am more than happy to pay back the creditors the money I owe but it looks like they are only getting 2% of the money I pay in. I've tried checking the payment that is due to the creditors when the plan is set up but I don't think my paperwork covers that.
Chase them up and ask for figures in writing - it's shoddy service and you need it sorting.
Do you have Payplanplus? You can check your account online.
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
I do have payplanplus and it shows the same amount in as per the document but doesn't show how much has been paid to creditors... I accept that in the first couple of years the payments to them should be lower but not entirely sure how payplan can justify keeping 98% of my payments after 4 years...
You need to keep pestering Payplan for answers and a total rundown of payments made to date and also why they are talking about failing your IVA.
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
