www.iva.co.uk

Well it was accepted.. with a modification. I offered £345 per month and they have put it up to £371. So not entirely happy with that but what can I do. I have told Accuma that I can only do my best and see if I can make ends meet. It does seem strange that I have gone through Accuma but have never even spoken to my IP!!! Is this the norm?

I also have a query... my boss is going to increase my wages by another £62 inclusive of TAX etc. as they want me to visit a couple of sites twice a month which totals 173 miles. Does this mean this total of £62 increase would be included in my IVA payments. I really hope not because its to cover petrol that I would have to pay myself in the first place!!!

Life is far too stressful!!

Hi maizie great news it must be a relief.
As for the wage rise your proposal should state what happens to it mine says 50% of all increases in income but others say all. You would have to speak to your company as they will be able to increase expenditure etc due to increased mileage, maybe boss could put it down as mileage pay ?
I have never spoken to my Ip either but I have an ac manager who deals with any queries and have not had the need as yet, I am quite happy.
Anyway congrats again[:)]

Ang

I just get an increase in my wages to cover this. I dont want to ask my boss to put it as mileage pay as he might ask questions and he is unaware of my situation. Put it this way.. if they take 50% then I will have no choice but to go bankrupt. I have already had an increase in my IVA of £26 and couldn't afford them to take half of my extra £62! Only just been accepted and Im fed up already!!!

Life is far too stressful!!

Oh Maizie dont be fed up x
If you are unhappy talk to your company they are going to be the best able to answer your queries. Write down all you want to ask and tell them the increase is purely for petrol not an income rise. Dont accept an iva if you think it is unmanagable as you say the end result will be failure anyway. Sort this out now or it will constantly bother you.

Ang

If your pay rise is to cover an increased expenditure then it is reasonable that this extra money is offset against the extra outlay, talk to your IP about this as soon as you can.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Hi maizie

Well done on the acceptance. You should not need to increase your payments further as a result of your forthcoming payrise.

It is unusual that you have not spoken to your IP, given that they or a Senior Member of their staff is supposed to have held a very detailed interview with you. If you are not self-employed then this can be carried out over the telephone. Are you saying that this has not happened in your case?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi Maizie,

Remember that an IVA should be based on what you can afford not on what you are told to afford. I think you should express your concerns to your I.P as soon as possible.

If you think that you will just be able to make ends meet then possibly re-think the expenditure, 5 years is a long time.

Best Regards. IVA Experts

Hi
Yes it,s a little worrying that you have never spoken to your IP and again they have squeezed your expenditure.Your forthcoming payrise should be yours to keep because it is offset by your increased petrol costs,as suggested speak to your IP[if you can get hold of them ?]and put it in writing to them.
Good luck and please keep posting.
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

Hi Melanie

I have spoken to Louise of Accuma who deals with all the admin on the phone. Never spoken to my IP. I did complain about Accuma to Thomas Charles and Thomas Charles sorted it out. Had quite a few problems with Accuma.. even to the point that they even called me someone elses name on the correspondence! I had a guy call me to tell me about my IVA decision.. haven't a clue who he was etc!!!

Life is far too stressful!!

Ok.. I have just called Accuma and spoke to a guy called Phil. He said that it should be fine because the extra money will be offsetting itself. He said that at the yearly review when they redo the expenditure they will add in the extra mileage I am doing. I said that I wanted him to make note of the date and time I have spoken to him and that I have informed him of what is happening. I dont want a massive bill in a years time. He also said that regarding bonuses etc.. it doesn't say in my proposal about any windfalls etc. He said as my bonus as Christmas is usually £340.. anything under £500 would not need to be split 50/50. Does this sound right? Im so worried I am gonna be screwed over in a years time!

Life is far too stressful!!

Hi
Yes some IVAs have a modification where the first £500 of any bonus etc can be kept in full by yourself.Accuma are a very well known company and you have no worries about being misled.
Just keep a good line of communication open with them
Regards



Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

I was with Accuma and I didn't speak to my IP until my IVA went pear-shaped. I must say that when I spoke to him he was very helpful, and to be fair he wasn't my original IP - he left a couple of months after my IVA was approved.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

First of all congratulations for yesterday..
Like others have said, your pay rise shouldnt be an issue as it is directly offset against an increase in expenditure - so just make sure this is made clear in the yearly review and Im sure you'll be fine. Especially considering it doesnt mean a net decrease in the p/£ you are offering.

As for speaking to your IP, I think it is quite rare if you use a largish debt management company to process the IVA. You will most probably have a interview with one memember of staff, then another person drafting/liasing with you for your proposal and yet another person who will handle the supervision of the arrangement on a day to day basis after acceptance. The IP is obviously over seeing all of this, but your point of contact is unlikely to be the actual IP with a large debt management company - unless you specifically request to speak to them...

Maizie

I wish you a smooth and easy IVA Journey, its long but theres light at the end.

I hope you feel better for putting that horrible debt behind you.

Good luck

LILY

I believe that angels breathe and love will live on and never leave. I cherish all you gave me everyday.