www.iva.co.uk

Hi,
First time I've posted even though i have been reading the forum.
My Husband and I are in the middle of our IVA and have just reviewed ours. Because of job promotion we are increasing our monthly payments which will go before the creditors.
We hadn’t been told when this will start from but have noticed today they have already increase the payments to my bank without any notification to us. The bank account I have is one that they recommend. When I rang the bank to discuss it they put me straight through to the IP, where upon I was told that they are taking the new amount now because the creditors will ask where the access money has gone even though it hasn’t been presented to them yet and agreed! I’m confused; I thought we would have been notified of when they would be taking the money from.
When I asked this question to IP they said if it didn’t go through then it would be passed to someone else in the team where upon the IVA would not be valid and ended. We have made regularly payments up until now so am worried and confused!

Another question, we have had the IVA for 2 ½ years now and 4 out of creditors have never submitted any evidence and as such never received any money from the IVA! I take it the money is held and IP get the interest. What happens if they never submit evidence and what happens to the money being held?

Hope this makes sense, my mind is all over the place at the moment and don't know what to do.
Thank you for listening

Welcome to the forum cloudless. I hope that an expert can give you some guidance here soon, what a confusing situation.

Good luck, Nic x

This is very concerning!

How can your IP dictate what comes out of your bank account - just because they have some interest in those bank accounts. This is an IP exercising powers way beyond their control in my opinion, and gives grounds for a complaint if you have not given authority to your IP to take what they like.

Do you agree with the increase?

Hi,
Thank you for your replies

We signed the paperwork last week to be sent to the creditors and yes we agree to the new amount as i have had a pay rise, however i thought it we would informed in writing that it has been accepted and when the new payments would start from, unfortunately this doesn't seem to be the case. Also found out this morning that it hasn't even been presented to our creditors yet!

Maybe i should had ask to have it in writing first, i don't know why but something doesn't feel right. I didn't think they could change the direct debit amount without telling us and the bank had changed it!! Don't know what to do [:(] Feel as though its not my bank account if they can do that what else can they do?, fed up with all this[:(!]

I deliberately do not use direct debit facilities for this very reason. You should be controlling your IVA payments and not your IP - who in any case should have provided you with notification of when the new payments wereto be taken.

That's terrible. You may have put the extra money away in a savings account or similar and it could have put you into a real pickle. I wouldn't be happy about this at all.

i was informed by my ip to set up a standing order so i was in control of my payments.

We have a standing order as well. That way none of our payments can be increased without our knowledge.

Your IP should have told you when this new payment would take effect.

I agree with Melanie that you may have grounds for complaint.

This seems very strange - did you say that the bank transferred your call to your IP?

Changes to DD should always be notified in writing - 14 days notice is required if I recall correctly. I would write to your IP with your concerns and asks them respond in writing.

It does seem very odd. No way should an IP have any access to your bank account and be able to alter the payments.