6 years paid

edited 30 November -1 at 1:00AM in IVA & DRO
6 replies 1.2K views
SpollSpoll Forumite
3 Posts
edited 30 November -1 at 1:00AM in IVA & DRO
Ok I’ve paid 6 years on an IVA now they are saying I owe them £2500 on extra earnings and I don’t have the money. If I offered them £1000 on full and final settlement do you think they would accept.

Replies

  • SystemSystem Forumite
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    You have nothing to lose by asking but don't be surprised if the answer is no.
  • foxy-stoatfoxy-stoat Forumite
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    Did you receive a bonus or payrise in the last year or did you not complete the annual reviews properly.

    You must of earning an additional £5K for them to ask for half of it - which is what you are contracted to do.
  • SpollSpoll Forumite
    3 Posts
    I’m a nurse and work put me on nights which bumped my money up although it wasn’t guaranteed I’d be on nights
  • foxy-stoatfoxy-stoat Forumite
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    You would of noticed that your take home pay had increased, hindsight would of said put half of the money aside or notified your IP at the time.

    If you dont have the money and they do not accept the £1000 then they will extend your IVA a few more months to give you time to pay back the total outstanding - but depending on how much you have paid back and how much was owed originally they may well accept it.
  • SpollSpoll Forumite
    3 Posts
    Yeah well when your struggeling in the Iva budget my child would always take priority!

    I have already paid 6 years an year extra as I couldn!!!8217;t remortgage
  • foxy-stoatfoxy-stoat Forumite
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    Speak to the IP, I am not sure they can extend an additional year.

    You could always write a statement to say that the last annual review allowances were not enough, but at £208 a month shortfall (if it was a full year) meaning you would of been £416 a month take home better off then something wasn't quite right in the budget.

    Good luck
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