Worried about my IVA

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Broke of London

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Post by Broke of London » Fri Sep 24, 2010 9:14 pm
Hi, I haven't actually spoken to my IP ever but the credit controller and caseworker seem very strict.

I couldn't reduce my monthly payment when my rent increased and made the payment unaffordable. When I saw the I&E form for my year end review, they hadn't even added the additional cost so I was showing a surplus from a small payrise (which didn't cover the additional rent).

I am also not allowed any kind of finance to fund a new car to replace one that died. I can only have £1000 in deferred payments. They will even accept that this is not economical as my maintenance costs will likely be huge and it is unlikely the car will last the rest of the IVA. I can't even borrow a couple of hundred from my Dad and add repayments to my expenditure for a couple of months. Can this be right when so many people are allowed HP and leasing agreements in their expenditure? I don't even want the expense of a lease or HP, I am a bit scared of debt now and only want to spend an extra £500 on a car.

They want me to use my contingencies budget to pay for the extra car maintenance so what will I use to pay for christmas, birthday presents, social life, hobbies!!

I think the credit controller summed up their attitude to me today when she told me "we have to get the maximum for creditors so can't help you".

Am I overreacting or should I speak to my IP about this? I am more worried and upset than I have ever been.
 
 

Shining

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Post by Shining » Fri Sep 24, 2010 10:00 pm
I personally would want to speak with my IP if I were in a similar situation. Do you have contact details for your IP? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Broke of London

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Post by Broke of London » Fri Sep 24, 2010 10:21 pm
I can get them from the Insolvency Service.

It's good to know someone else would do the same. I don't want to throw a tantrum because its getting difficult and I'm not getting my own way. Just sometimes its so hard and five years may as well be a lifetime. I'll perk up again in the morning. It was just the stupid suggestion that my contingencies budget was available for car repairs that set me off. It's thoughtless and shows a complete lack of understanding on their part. The contingency isn't a spare £50 every month to be squirrelled away, comething always crops up or something not allowed for has to be saved for or spent.

The situation is just complicated by my first review going through at the moment (yes, it's 2 months late), I am changing jobs this month and the car's concked out so I am in financial disarray.

Rant over (for now)!!!

Thanks for listening Lesley. x
 
 

MrsKnight

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Post by MrsKnight » Fri Sep 24, 2010 10:49 pm
Hi broke - welcome to the forum from me, Ive not been on the forum for a while, but can totally understand your situation.
Ive had similar situations when I moved house (rented) to make a better life for my boys. Ive also been in a situation where my IVA was set on a road to fail with the expenditure that had been set for me - not what things actually cost. I lived without contingencies, constant worry about christmas/birthdays, even worrying about how I was going to cloth my boys (never mind me), n just generally how I was going to live through this IVA. I finally found the forum (thank U!) n got good advice n got strong enough to tackle my IVA company with my problems, though like you Ive never spoken to an IP yet.

They have to listen to you, they have to understand increases in expenditure, problems do arises with cars (wont go into what happened with mine) And you need a contingency fund for your car and the other things that can go wrong.

You need to get in touch with your IVA company n if you cant get through to a IP - ask for a phone meeting with your account manager.
Let us know how you get on wont you.

(had to edit as my pc was playing up!)
Last edited by MrsKnight on Fri Sep 24, 2010 10:51 pm, edited 1 time in total.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X



An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt

Lyns x
 
 

MrsKnight

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Post by MrsKnight » Fri Sep 24, 2010 11:08 pm
Sorry broke Im waffling again - Just noticed this part of your 2nd post:

"The contingency isn't a spare £50 every month to be squirreled away, something always crops up or something not allowed for has to be saved for or spent".
Including myself n others - we often dont think of things that are needed for contingencies or allowances of expenditures are not given, until after you begin the IVA journey. Ive had a few added in past reviews with no questions asked.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X



An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt

Lyns x
 
 

Broke of London

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Post by Broke of London » Sat Sep 25, 2010 12:03 am
Thnx Lyns, I have a few things I want to add when I do the I&E for my new job such as pension and haircuts. Both of these were refused initially but I have learnt from the site that I can claim for these. I am also going to try for AA rescue as I don't have family or good friends within 90 minutes drive of me so no-one to help with car disasters.

I am wondering if they are safeguarding their commission as they get 15% of monies realised.
 
 

kallis3

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Post by kallis3 » Sat Sep 25, 2010 8:34 am
We have AA cover and haircuts as well. I've always been allowed to claim for pet insurance too.

I get my pension covered, newspapers, sky subscription as well.

You can always run things by us on here to see if we think they will be allowed.
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
 
 

Broke of London

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Post by Broke of London » Sun Sep 26, 2010 8:12 pm
Thanks Jan, I think I might just do this.
 
 

MelanieGiles

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Post by MelanieGiles » Mon Sep 27, 2010 12:48 am
Usually - the best way for an IP to get the most money returned to creditors is to work with their clients and understand the difficulties they are experiencing. With a little bit of flexibility, the IVA can be saved rather than become another failure statistic.
Regards, Melanie Giles, Insolvency Practitioner
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