IVA Annual Review Problem

logiebear

I have had my IVA for 2 years now but this is our first annual review. A new company took over and they are trying to bully me on the phone. I have asked them to put everything in writing and email only as I get confused on the phone. I was paying £122 a month for 2 years now but they have looked at the figures I have sent and my paperwork and decided that using the new expenditure allowance guidelines for 2020 all the allowances are lower so we have loads more expendable income and want to increase payments by £270+

I simply can't afford this so I have no idea what to do now and they are in no rush to help me.

Can they do this and if so what can I do?

TIA x

foxy-stoat

If you cannot afford it then challenge their 2020 guideline costs for expenditure.

What is your annual/monthly expenses, maybe someone on here can take a look to see if the figures are high.

sourcrates

They are not trying to bully you, they are simply trying to accertain wether or not you can afford to increase your payments, just say no, you can say no, they cannot force an increase in payments without your consent, make sure you budget correctly, and claim for all you can regardless.

If they insist on increasing your payment, make an official complaint, your payments should only rise if your income does.

bossman1970

I was a natwest customer  now the promlum I have got is I had to loan s 1 7500  then the second  8100 the last 1 paid of the 1st so there was a credit  of 600 pounds the thing is I put the 2 acounts in to a iva  both was paid but this never flag up with the bank so I race this to natwest then in there  atitude said take it up with the financial osbusman  wich I did she saing that the natwest told here not to take on this complaint  which I feel natwest are hiding something