Shortfall on IVA payments

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ian810

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Post by ian810 » Wed Jul 22, 2020 6:51 pm
Hi. I have 2 payments left of my IVA. The company have no contacted me to say there is a £503 shortfall. The manager has said that the miscalculation of additional income from 2018 was their fault but will still need to be paid. I know I might be being hopeful but do I need to pay this as it is their fault?

kallis3

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Post by kallis3 » Wed Jul 22, 2020 7:31 pm
You need to sort this out with your IP
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 » Wed Jul 22, 2020 8:03 pm
I am afraid that it does have to be paid to comply with the terms of the agreement. As the firm have admitted their fault they could assist by extending the IVA by however many months would be needed to cover the shortfall ( So you do not have to find this in a lump ). You could suggest that they sacrifice some of their fee to reduce the shortfall, as a gesture of goodwill.
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

ian810

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Post by ian810 » Thu Jul 23, 2020 7:11 am
Ok Thank you. I will discuss the goodwill gesture with them today. Again thank you.
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