6 years paid

Spoll

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.

System

You have nothing to lose by asking but don't be surprised if the answer is no.

foxy-stoat

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.

Spoll

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-stoat

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.

Spoll

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-stoat

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