www.iva.co.uk

I have an IVA with One Advice and have been keeping up with all my payments. I have received a letter telling me that my repayments will increase due to an increase in my creditors claims. I am into my second year of my IVA. Are they allowed to do this? I will find an increase very difficult to pay.

Hi there and welcome to the forum

It will depend upon the terms of your IVA. Was a minimum dividend offered or required by creditors? If so, then your IP may need to vary the terms of the current IVA perhaps to extend the term if you cannot afford to pay higher payments, or to reduce the level of dividend if this can no longer be achieved.

Why did creditor claims increase as a matter of interest?

Many thanks for replying. I do not know why my creditors wish to increase their claims. I have not been given a reason why. I have written and asked where it says in their terms & conditions that they can do this as I cannot find it. As I said I have kept up with all my payments and have not been asked up until now to increase them. I feel the service I get from One Advice is poor can I change my provider?

Experts will confirm, but my understanding is that you cannot change IVA companies after the IVA has been running.

Was this increase due to a revised I&E after the first year?

No you cannot change companies - unless there are extreme circumstances for this - but they should provide you with details of the claims that they have received from your creditors in order that you can see where the differences lie.

I will get the IP from this One Advice to look into this for you - he sits on the DRF Board.

I would not advise posting a reference number on here - you never know who might get hold of it.

Big round of applause for Mr David Mond for once again getting an IP to contact a client who has been struggling to make contact.
Without your help David,many more people would be left banging their heads off brick walls!!!

Welcome to the forum Mr Rankin.

kallis3 wrote:

I would not advise posting a reference number on here - you never know who might get hold of it.

By reference number I mean only our One Advice reference number which will be entirely useless to anyone withiout access to our system (i.e. one of our employees) but I do agree a phone call would be preferable.

Whilst I acknowledge that angied has written in, and I can assure everyone that that letter wil be answered, I'm not sure she is struggling to make contact. My name appears on all correspondence and my staff and myself will always take calls. I appreciate that the IVA process can sometimes seem confusing and even intimidating to some but an open dialogue is always the best way forward. I am however very grateful to David for bringing this to my attention and have told him so.

This again demonstrates what a huge addition this forum makes to the insolvency world.

Often IPs do not get to find out what is happening at grass roots level, for many reasons, and how pleasing it is to see an IP taking responsibility for a client query in such a public way. I often get to find out concerns of my own clients via the forum as well!

I echo Melanie's post - this is a great way to find out the problems posters have and to try and remedy them.

Thanks to David Rankin for replying. Can I just make it clear I have not said that I have had problems making contact with One Advice as mentioned by somebody else, this is not the case. I joined the forum to ask a question and I am very happy with the response I have had. I will await a reply to my letter. A big thank you to everyones help.

Angied I have managed to identify your letter of 15 April and can assure you that a response will be issued this week (I was searching for someone whose surname began with D but that obviosuly isn't the case!).

Kind regards,

Glad andgied that David Rankin responded but you did put in your post:

"I feel the service I get from One Advice is poor can I change my provider?"

So probably posters thought you had problems in contacting.

Alls well that ends well [:)]