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Posted: Sun Aug 02, 2009 2:22 pm
by Mrs Naomi Bentley
Hi my husband & I entered into an IVA in April 2009 after my husband lost half of his wages & I had a baby in 2008 which made us lose my income as well, I'd like any advise as we don't seem to be getting any help from the IVA company... we only had 4 creditors, the IVA company set our payments from 3 previous payslips but not on my husbands basic salary as it stands my husband has now been told that they wont get any more overtime at all so our bills are £1750 & the salary is £1500 I've have contact the IVA company & explained all this & asked what we could do I didn't really get any where I was told we couldn't sell our house & if we don't meet the IVA payments the it will cancel the whole thing & the creditors could take legal action... The thing I don't understand is the drop in the wages is out of my hands I can't change it. If I get a job after £400-£650 nursery fee what every I'm left with goes to the IVA, any over time the IVA take half & our IVA was sent for the maximum of 6 years.
Any advise would be great Thanks
Posted: Sun Aug 02, 2009 2:36 pm
by kallis3
Hi,
You do need to speak to your IP about the difficulties you are having. They do have the discretion to lower your payments by up to 15% without speaking to the creditors.
You can sell your house with the creditors permission, but they are correct that if you cannot make the payments then your IVA will fail and you will be back to square one.
You can email your IP direct via this link:
http://www.insolvency-service.co.uk/newipsearch.htm
Who is your IP?
Posted: Sun Aug 02, 2009 2:46 pm
by plasticdaft
May be a good idea to change your user name so you may remain anonymous.
Posted: Sun Aug 02, 2009 2:49 pm
by kallis3
Good idea PD - just go into your profile and alter it.
Most of us are anonymous on here.
Posted: Sun Aug 02, 2009 3:23 pm
by gone-to-us
is there a governing body that can be asked to look into if an iva is mis-sold
Posted: Sun Aug 02, 2009 3:26 pm
by kallis3
It is very rare that an IVA is missold, and you would probably find it difficult to prove.
However, you can look at this link and it will tell you what to do:
http://www.insolvency.gov.uk/howtocompl ... inssip.htm
Posted: Sun Aug 02, 2009 3:39 pm
by plasticdaft
People must remember NOT to sign anything until they are happy that they understand whats going on. Dont feel pressured into signing an agreement that you dont understand or agree with the figures on,and only ever use basic income when working out what you can afford.
Paul
Posted: Sun Aug 02, 2009 4:17 pm
by Debtwitch
Hi there
Sorry to hear that you're struggling.
You do need to speak to your IP to try and find an answer to your problem - they will be keen to try and help you keep the IVA going if it's in everyone's best interest.
If you feel unhappy about how your enquiry is being handled, follow your IPs complaints procedure to check if it is something that is within their power to help you with.
You can always post back on here for input.
Good luck
Posted: Sun Aug 02, 2009 6:45 pm
by Mrs Naomi Bentley
Thanks for the quick replys I'm going to speak to them tomorrow, they have made me feel like I can't do any thing with out asking them... Is my husband aloud to find a new job???
Posted: Sun Aug 02, 2009 6:46 pm
by kallis3
Yes, your husband can get himself a new job.
Posted: Sun Aug 02, 2009 8:04 pm
by MelanieGiles
Just because things have not worked out for you with the IVA does not necessarily mean it has been mis-sold. Although your IP should be trying to help you put things right or amend the repayments to a more affordable level. Why not try to arrange a face to face meeting with the IP personally, to see if you can come up with a plan.
Posted: Sun Aug 02, 2009 8:17 pm
by Debtwitch
Your IP should be looking to help you achieve the best outcome to the IVA and should be there for you to provide support and guidance.
They must be dealing with several enquiries like this but whilst they need to deliver factual information, they also need to make sure they remain sensitive to your particular predicament and how you must be feeling.
The staff at the IPs office are working to provide the best advice and have deadlines to meet and you may need to make an initial call to make them aware of your situation and ask them for some guidance. It could be that a more experienced member of staff will need to make an appointment to call you back.
Please just give them a call. I'm sure once they're made aware of how worried you are they take the time to reassure you and appraise you of your options.