Not sure if I can make this clear,
Original Claim by creditors was £32,478, i was paying originally £320 per month, after first annual review, my payments increased to £343, My third anniversary letter stated that Max Recovery had claimed more than originally and that my IVA would default as it was more than a 10% increase, amount owing now £36,525, The letter states that to clear this I would either need to increase monthly or carry on IVA for a further 6 months.
I am now on payment 57 of the original 60 but am worried about extra 6 months, when I call my ISP they said nothing to worry about as I had increased my payments, however I increased them before any reference to the increased MAX claim.
Not sure if any of the experts can tell me what this mean, every letter since year 3 states that I will need to pay in for an extra six months.
Not sure about this at all. Have your company said why the claim is more? They normally check out the figures before the IVA is accepted.
Hopefully one of the professionals will be able to advise later.
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
