www.iva.co.uk

Hi MIchael,
I saw from the experts page that you work for Cambridge McDuffy, which is why I'm approaching you with my dilemma. I am in my second IVA - yes I know. The first time was, I suppose,the consequence of mounting up too much debt on credit cards and loans etc. which over time became unmanageable. I saw the previous IVA through until the end, with Cambridge McDuffy, and was very happy with the advice, response time etc and overall it was a fairly posistive experience (as much is it could be) with questions and concerns being responded to in a timely manner by intelligent and responsive people. Then a few years later my brother was diagnosed with a terminal illness and came to stay with me for the last few months of his life. I gave up work and maxed out credit cards really not caring at the time about any consequences. Then he passed away and I realised once again, that the debt had become unmanageable. So I went back to work and applied for another IVA with a different company. I really regret not approaching Cambridge McDuffy again because I'm not happy with the service I'm getting with the new IP. There have been 3 reviews, in February of each year, and as before I haven't missed a payment. However Mid May this year I had a phone call saying that my payment needed to increase by over £100 per month. Two weeks ago I rang them and asked why it has increased. They said 'oh it will be because of a bonus or something like that'. So I asked for a copy of the review paperwork and the justification for the increase. I have had no response yet and I have just emailed them asking for this to be chased up.
To cut a long story short, my question is - is it possible to change IPs half way through? Probably not but I think it's worth asking. And what, if anything, can I do to challenge their increase? With the review date being every February I don't understand why the increase request came in June. Any advice you can give me would be welcome!

Hi. Michael rarely visits the forum these days with his work taking him in different directions. However, to answer your question : No, you cannot change IPs yourself and will need to find ways to work with your current firm.

As for the review ( if this is what has led to the increase ). They are supposed to happen and be completed within 2 months of the IVA anniversary date, so to be landed with an increase a few months after this is not really on ! Nor, indeed, is the lack of a response to a perfectly reasonable question. I would make a formal request / complaint direct to your IP which can then be escalated to their regulatory body, if needs be. The RB will not directly intervene but can impose fines ( sometimes quite hefty) on IPs who fall short of good practice and, often, the threat of this is enough to focus the IPs attention !

Thank you Foggy. That's really helpful. I thought it very likely that I wouldn't be able to change IPs but it was worth checking just to be sure. I'll wait for a reply from my email and then do what you suggest if I haven't heard anything. Thanks again.