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Posted: Tue May 31, 2016 6:16 pm
by Claired7359
I completed an IVA with Kingsgate insolvency last April and it is still dragging on once I completed they told me there was a step in our payments for the last year however not once did they inform us that we were paying the incorrect amount or that our account was in arrears they have now said they will ask the creditors of they will except it as it is if the creditors say no they have said we either have to pay a further £2300 or they will terminate the IVA I feel this is very in fair I had a disabled son a year into my IVA so payments going up were the last thing on my mind can you please tell me where we stand with this
Posted: Tue May 31, 2016 6:52 pm
by kallis3
Hi and welcome,
If you have completed then I don't see how they can fail it. Did you get a completion letter? Are you still on the Insolvency Service Register.
Ask them where these figures are coming from after all this time and why they didn't inform you of any changes.
Posted: Wed Jun 01, 2016 9:09 am
by Lisa Thomas
I wonder if Claire means she paid what she thought was her last payment but has been told she has arrears of £2,300.
What period do the arrears relate to? Are the calculations of the contributions/increase correct? Why was there an increase - did your income increase or expenditure go down?
Did you fill the I&E in fully or could there have been an error?
Ask to see a copy of the variation report before it is sent to creditors and insist that a covering letter of your own is included so creditors can consider your opinion when voting.
Posted: Wed Jun 01, 2016 9:12 am
by lifenoteasy
They have done this before with others.
Posted: Thu Jun 02, 2016 11:44 pm
by Anna.21
Hi, I am really sorry to hear your situation.
I will be amazed if you get any answers from them. Can't escape them either.
Wish you the very best of luck.
I'd be interested to hear what happens.
Posted: Fri Jun 03, 2016 6:21 pm
by Foggy
If the £2300 is correctly owed and the creditors will not forgive repayment the IVA does not have to fail --- they should be asked to accept monthly payments over whatever term is required to pay the amount, rather than a lump sum. If your IP is unhelpful I would consider a formal complaint which can be escalated through the Government Gateway to their regulators.