IVA Arrears Advice

[mattp83]

Some advice needed please....

I have had a letter off payplan Notice of intent to issue non-compliance.... They say i am in arrears of one month dating back to may this year, my pay date was set at around the 10th of the month, but due to a solicitors bill for a divorce i had to make the iva payment at the end of the month (still within the month of may)but the payment didnt clear until beginning of june, i have paid each months payments since then at the end of the month as i couldnt revert back to the 10th of the month, am i in arrears? or is it i need to set-up a standing order to ensure the monies clear within that month, sorry for mumbling along! Matt

[lem]

Can you not make your payment by bank transfer Matt? usually the money is then within the recipients account within 2 hours of making the payment then, this would allow you to continue to pay at the end of the month but the payment transfers immediately

[mattp83]

Hi Lem,

I usually make payments through payplan plus by debit card, but it seems to take forever clearing, it shows on my online banking within 1-2 days, but can be anything upto 7days to show on my payplan account, there is nothing on payplans website offering a direct bank transfer that i know of?

[Adam Davies]

Hi

A little harsh of Payplan if you are just one month in arrears

Regards

[luluj]

totally agree Andy ...I am sure in the last week we had another forum member with a similar situation and it was payplan. This member has a clear reason for the slightly delayed payment, and has made every effort to ensure his payments continue....why couldn't this one payment in question be added to the end or spread over a few months to catch up .....

[mattp83]

Tell me about it Andy, got enough stress as it is with a divorce going through! Not the most helpful of companies i have found recently, especially the turnover of case officers, who i am finding to be quite rude and obnoxious

[MrsR]

A surely if the payments were made during the correct months, but did not hit their account till the beginning of the following month, as long as it is prior to your planned pay date, I would say that was fine.

Mine was set up for the 27th each month, but sometimes I have to wait for my husband to get paid on the last day, so when I pay it in the correct month, it goes into theirs the following month, but because it is paid prior to the 27th it is not a problem.

You could ask them to change the pay date to suit your requirements and see what they say.

[mattp83]

This is what i thought, i havent missed a months payment, just that instead of paying on the 10th month i am now paying around 29th month, but obviously payplan see it differently??????

[Adam Davies]

Hi

I was three months behind at one point with my own IVA, I guess Payplan have a strict black and white policy.
I bet there are not many IVAs that run 5-6 years with no problems at all.

Regards

[Shining]

Just yesterday there was a similar post about Payplan, this they're standard letters being sent out by the sounds of it rather than personalised. x

[Foggy]

Many firms will allow a missed payment to be added to the end, however, Payplan require repayment as soon as possible, and certainly within the review year. From what I have been told they will not consider allowing agreed arrears to pass from one review year to the next.

[MelanieGiles]

Andy is correct in his post. Although I have a failure rate of less than 5% overall, around one quarter of my IVA portfolio at present have clients with one to three months arrears or are on agreed payment breaks.

IPs have to be flexible and work with their clients these days. It is possible that the specific terms of mattp's IVA require Payplan to take the approach it has, but if not then perhaps the letter could have been a little kinder.

[Gemma Burton]

Hi Matt, someone else on the forum has also commented regarding a similar issue to which I replied to them. I cannot give any specific's without knowing who you are and what type of proposals you have.
If you are in touch with your case officer to resolve the issue, brilliant. However, if you would like me to look into it for you, then you can find my email address on my profile and I will see what I can do for you.