I feel I've been missold an IVA

Hi there,
only just now I found out that the IVA people get paid £7500 through my money (well, I didn't really mind to where exactly and in what proportion my money goes, as long as I didn't have to worry about my debt anymore) but the real disappointment and outrage is that I was led to believe at the start that the yearly review will decide how much I will pay monthly (and will change as my circumstances change - now it seems they would only change if I earned more, so I would be expected to pay back more, but there seems to be no allowance or help for when you actually earn less.

I have just filed my new yearly review now which shows I'm £200 in deficit (average income has come down dramatically) but the IVA is still £170 a month, and my expert advisers say that nothing has changed in my files.

I'm furious!
Any suggestions? Have you had to deal with similar?

Thank you!


  • Cotswoldtony
    Cotswoldtony Forumite Posts: 58
    Fifth Anniversary 10 Posts Combo Breaker
    I would love to help you but you would need to contact me direct.
    This is not a scam and it's totally free of charge.
    I have many years experience regarding debt and I am now retired with spare time to help you.
  • amersall
    amersall Forumite Posts: 16,983
    Part of the Furniture 10,000 Posts Combo Breaker
    Why cant you help the op on this site?.
    Other posters who may need info on this will be helped too.

    I suggest you remove your email address, it is not wise to put it on a public forum.
  • Cotswoldtony
    Cotswoldtony Forumite Posts: 58
    Fifth Anniversary 10 Posts Combo Breaker
    Each case is different especially at the IVA stage so a general post here will not help other people.
    The person in this post now understands the price they are paying for their IVA with control of their finances taken away from them.
    Most people are intimidated by debt collectors bailiffs and lawyers in total fear of the courts entering into debt plans to stop further action.
    Even if they work you have not gained any knowledge to deal with your future finances.
    The key is to understand how to deal with your own finances to take control of your situation.
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