Advice Please

ldx

I am feeling truly peeved today. A few months back I managed to forward 2 windfalls over to the company who manages my IVA. I decided to contact them today to see if I would still need to pay an additional £915.00, they said was owing due to bonuses and overtime. I was truly surprised and irritated when informed that I would still need to pay this amount considering the windfall totalled £7000.00.

Am I the only one who can see the injustice of this? There is sufficient funds available to settle the £915.00, and still be left with change to distriute accordingly. I simply do not understand.

I am coming to the end of my 3rd year and at no point have I ever viewed my IVA as a burden, but to be quite truthful I am viewing it as a rip off. Yes, I have been helped out of a situation for which I am truly grateful, but I feel my company is bleeding me dry, left, right and centre. It is so unfair :-(

Regards

Charco_2

i know what you're saying, you seem to paying out hand over fist however your ip has a duty to achieve the best possible outcome for your creditors - you're not looking to avoid paying the debt, that's not what an iva is for! The idea is to give you a chance to get back no your feet (shame the windfall came during your iva tho). Worth bearing mind tho that very little, if any, of your extra payments goes to your IP, it is to be made available to your creditors.

timberflake

Rule of thumb, don'e declare what you don't have to! My IP as to see my pay slips, that's it. They know nothing about about the £200 my family give me each month to help me out, and I wouldn't give it to them to line my creditors pockets!

Charco_2

DONT LIE TO YOUR IP!

£200 from your family to help get by is probably fine as your family wouldn't give it to you if you simply had to hand it over to your creditors. If you managed to find a small cash in hand job then you'd have no obligation to hand your extra over either i suppose BUT if you had a large windfall, there'd probably be trace of it somewhere and if you were caught the least to happen would be your IVA would fail if you couldn't then pay it all in, the worst would be that you could maybe be facing fraud charges!

I'm not saying "give all your money to your to your IP/Creditors!" I'm just saying "be careful!"

Timberflake: I assume you get the £200 cash in hand and not through your bank account! (Dont answer, it doesn't matter to me, but do NOT let it go through your account - dont want any paperwork showing anything!)

timberflake

Obviously I never said lie to your IP, I said only give them what they have to. If it had been me, I would have put the windfalls into your account and IF you IP asked for bank statements and noticed them at least you would have benefited from the interest. I comply with the requests of my IP, and if they asked to see my bank statements I would duly oblige, but I would never go out of my way to tell them I had come into some money. Make them work for their cut!