Just approaching my third review and think I am going to have a major problem. Been up to date with everything up till now but due to some circumstances this year I have come off the rails a bit.
I have earnt a fair bit of overtime this year but have not paid all of the 50% across. Its quite a lump and I am not going to be able to pay it as a one off lump when the review is done.
I cannot sleep with worry at the moment, cant believe I have been so stupid this far in. Have I blown my IVA?
Hi Bergy. Sorry to hear you are having sleepless nights over it. You can't continue to beat yourself up, as what's done is done, and you have to look ahead now and see how this matter can be resolved. Could you offer to pay in a bit more each month? I would suggest that you be upfront with your Case Officer or IP and explain what's happened ASAP.I'm sure they'll work through solutions with you to pay in any outstanding funds, as it would make no sense to fail your IVA so far in. All the best with it - please let us know how you get on. x
IVA journey started: 30th March 2009. Settled: 17th July 2012. Completion Certificate received: 13th March 2013. Breathe. x
Bergy I'd sit down and total up all unpaid uplifts then try and work out a freasible plan by which you can pay them back up to-date.....then ring the Company straight away and come clean over the unpaid amount and your idea for repaying it.
I suppose in the end it will boil down to the willingness of your IVA Company to accept or reject your offer to make things right and of course it could be construed that you are in "Breach of your IVA conditions", however, speak to them.
I take it that you do not send them monthly payslips and therefore there was no way they would of known that you had received the overtime until review and P60 time.
Good luck.
Last edited by Pennyless on Tue Jul 17, 2012 1:24 pm, edited 1 time in total.
I came into this world with nothing and still have most of it left!
I was in a similar position to you following around 20 months after my IVA commenced. The problem with me was that I didnt even realise that I had to pay across any overtime at all because I didnt pay much attention to my proposal, so it mounted up for a fair while so it came as a shock when I recieved a letter demanding payment from my IP. Glad to say that it got sorted out by way of increasing payments over the term of the IVA.
I would contact your IP as soon as possible informing them of the situation. I am sure they will work a solution out for you be it an extra amount each month or even a few added months at the end.
Hi again Bergy. Is your review date imminent? I really hope so, otherwise you're going to worry yourself sick until then. You've come so far, and in the grander scheme of things - you've done really well apart from this happening, and you know what led up to this. At times during my IVA journey Id worried and panicked myself ill when challenges/unexpected circumstances arose. It's really only since I've found this Forum that I've been able to be 'brave' and deal with them. I was terrified of even phoning my CO, but through my friends here, I summoned the strength and confidence to do so. It's been really weird as in my professional roles I was the strong, confident, competent one everyone relied on, but somehow - through having to deal with my IVA, I became this crumbling wreck, always assuming the worst and feeling totally helpless and hopeless - at the mercy of my Case Officer/IP. This clearly isn't the case, and every issue/challenge has been sorted through - easing my stress and anxiety. It's my 'peeps' on here that helped me, and we want to support you through this however we can, and it seems that great advice has already been posted here. I hope it helps. Take good care of you.
IVA journey started: 30th March 2009. Settled: 17th July 2012. Completion Certificate received: 13th March 2013. Breathe. x
Hi, as said above, contact your IP with suggestions to rectify the potential breach, say, increased payments for a period, or even, though not all IP's agree to this, adding a few months on at the end to make up the shortfall.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi Bergy, I know its a horrible thing to face but the soner you chat to your IP about it the better as sleepless nights and worrying about it won't change anything its just prolonging agony for you. The sooner you can work out with them a way to resolve it the better for everyone.
Keep us posted how you get on and hope you have a better nights lseep tonight.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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Personally I would contact your IVA company first so they can deal with it more quickly or else you could be worrying for a few more weeks. Im not saying it will happen with your IVA company but it took mine (BE) the best part of 9 months to contact me regarding my shortfall. I also believe that you will feel a whole lot better when you contact them.
Also take this opportunity to make sure that your I/E is set at the correct amount. The reason I say this is because when I had this problem my case officer realised that my expenditure was set too low hence the reason for me doing a lot of overtime.
