Arrears on my IVA
Posted: Thu Nov 25, 2021 3:49 pm
Hi
I have been contacted today by my IVA administrator and told that I owe over £2000 in arrears on my IVA.
I make my monthly payments every month and speak to my IVA provider most months and yet this is the first that they have told me about any arrears on my account. They have advised that my payments should have gone up in Oct 2020 but as they had not increased I have accrued these arrears. They have said that my monthly payments need to almost double to clear these arrears and that it was all laid out in my original IVA Agreement that my payments would increase at this time.
No-one from my IVA provider contacted me in Oct 2020 to tell me to increase my payments and I couldn't even if I wanted to as I do not have sufficient income. Surely someone should have told me back in Oct 2020 not allowed the arrears to accumulate to over £2000? Apparently it is all due to an error with their systems that has only just come to light.
What can I do, I cannot afford to double my payments each month?
I have been contacted today by my IVA administrator and told that I owe over £2000 in arrears on my IVA.
I make my monthly payments every month and speak to my IVA provider most months and yet this is the first that they have told me about any arrears on my account. They have advised that my payments should have gone up in Oct 2020 but as they had not increased I have accrued these arrears. They have said that my monthly payments need to almost double to clear these arrears and that it was all laid out in my original IVA Agreement that my payments would increase at this time.
No-one from my IVA provider contacted me in Oct 2020 to tell me to increase my payments and I couldn't even if I wanted to as I do not have sufficient income. Surely someone should have told me back in Oct 2020 not allowed the arrears to accumulate to over £2000? Apparently it is all due to an error with their systems that has only just come to light.
What can I do, I cannot afford to double my payments each month?