www.iva.co.uk

I was made redundant in May 2011 and paid a sum of money through a compromise agreement. I contacted my IP and was advised to use the money to cover my living expenses until I found alternative employment and then contact them again. I found a job again after 2 months and contacted them to advise, at this point the relationship between me and my then landlady deteriorated to such a point that I had to find somewhere else to live. I informed my IP of this and was told to use the money to cover moving expenses and contact them once everything was sorted out. I received a call from them yesterday saying they now want the redundancy money. I wrote to them on at least 3 occasions during the last 12 months asking how much i needed to pay into the IVA and received no response. I have been told that as the redundancy was classed as a windfall I should not have been told to use the money to fund my house move. I am just coming to the end of my 4th year in this IVA and fear that I do not have enough money to cover what they are likely to want. Where do I stand on this? I have copies of everything I have sent to them, but they advice I was given was all verbal. Am I likely to default if I don't have the funds available? I struggle to get to the end of the month with my current disposable income as it is so really am at a loss!

Hi and welcome to the forum. Which company are you with? Some companies are represented on the forum and can get issues escalated through the system to get you a definitive answer.

One of our experts will I'm sure be along very soon to give their opinion.

I'm with Kingsgate Insolvency, part of Churchwood Financial Group

I'm not familiar with them but hopefully someone will be along soon with some advice. It's a pity they didn't converse with your by email/letter as then you'd have the evidence to send them. x

Thanks. I'm hoping the telephone call recordings for "training purposes" will be accessible. Luckily I've been putting cash by with my parents for a few years (for emergencies) so hopefully there will be enough

I sincerely hope so and then you can move forward and complete your IVA smoothly x

I'm still worried that if the money i have isn't enough that i'll default ... I was doing so well with the payments but now i don't know if anything they've told me over the years was right.

Hi Suky424

I had a similar experience with Kingsgate earlier in the year.

I got a promotion in January but with the new job came increased living expenses as I went from an office based job to field based. Kingsgate assured me that both increases almost cancelled each other out and so my contributions did not increase.

Then in April I called them with a query and was told the information I had been given was wrong and that my contributions should have increased by £200. From April I paid the extra £200.

I made my final payment on 1st August so am hoping that they don't change their minds again during my completion and I end up owing more than advised.

I have to say for the first 4 years they were great but their service does seem to have gone downhill this year.

Surely companies have some responsibility when they give wrong information.

i'm glad it's not just me ... I had absolutely no issues until earlier this year. I wonder if maybe a lot of the companies are struggling with failing iva's and are trying to squeeze as much as they can out of the rest of us. I'm sending a letter to my IP today asking him to carry out an investigation. I wouldn't mind but in the first 3 years I paid extra due to bonuses but it seems that since that has stopped they are chasing me for whatever they can get. I think the lady I spoke to this week was on the brink of accusing my of lying too ... I was most upset indeed!

An update ...

I've just spoken to Kingsgate and am relieved that a solution has been found that is OK with both parties. My iva is back on track and everything should run smoothly from now till the end, which is still insight.

I'd like to say thanks to everyone on here that gave advice. I'm so glad I found this forum, I don't think I could've coped without it. I will probably remain an avid reader/poster for years to come.

I have also asked for the details to be put in an email so I have some proof of the discussion and the outcome ... maybe a little bit cynical but I'm not going through the he said/she said thing again!

And if Catherine V is ever on here, I'd like to apologise for crying at her down the phone ... there really is nothing like the feeling of total and utter relief to make you sound like a numpty!

Glad you're sorted and I'm Catherine didn't mind!

Hi suky, I'm so pleased to hear all is well again for you. The past few weeks must have been very nerve wracking for you. Good luck for your final year xx

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Niobe

Glad you're sorted and I'm Catherine didn't mind!

Thanks for all your help ... I may well sleep tonight and my boyfriend will be happy to see me smile again (apparently I've been a bit of a pain) [:D]

My iva was with them they aint much help i am sorry to say

Glad to see this has been sorted - although a shame you had to go through such personal stress to get the result. Is your IVA governed under the IVA protocol?