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Requesting payments after Iva settled
Hi, basically I took out an IVA in 2015. The company went into administration and was took over. That company then went into administration and was took over again.
In 2018 my income changed, I called and called and couldn’t get through so emailed several times with payslips.
Fast forward 2 years (with no annual reviews requested or anything) my Iva is finished. Then 4 months later they’ve got in touch with me, asked for the last years of payslips and bank statements, which I’ve given, and said that I now need to pay another £3977 because I earned more than what they had on record.
This amount is more than my original debt. I contacted them to change my income, I’ve done what they requested of me, can they really make me pay my entire IVA again because of their fault?
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Is your IVA officially finished? What does it say on the register?
https://www.insolvencydirect.bis.gov.uk/eiir/
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It appears an IVA was not a good choice if your debt was less than 4K.
You were badly advised there.
Have you received a “certificate of completion” ?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
I interpreted that as 'if I have to pay another £3977 then that means I would have paid an amount more than my original debt.'
Surely no-one would do an IVA for less than 4k !?!0 -
My original debt was £3800. I was only 21 and had never heard of an IVA. I’d just fled an abusive relationship and suddenly all these debt letters and bailiffs were showing up for debts I had no idea about that had been taken out in my name. I wasn’t working and with young babies I didn’t know what else to do. Had I known it would cause this much stress and anxiety I would never have done it. I’m just learning today that IVAs are more for those with a lot more debt than what I had.I’m worried I don’t have a leg to stand on though & will be made to pay it all again 😫0
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I’ve not had a certificate but when I did speak to them they said it finished September 2020 and that was my last payment & that nothing was outstanding. Now it’s over they’ve said that’s not the case and they want that amount from me0
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And is it still showing as open on the register? I supplied a link earlier.
That's absolutely nuts. Just insist it's marked complete. There's some info on complaining here
https://debtcamel.co.uk/complaint-iva/
https://debtcamel.co.uk/iva-completion-certificate/
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Sorry, yes I did check and it says current. Though my credit report says it’s been discharged?Do you think I have the grounds to complain?0
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Most definitely yes, it’s horrendous how these things are mis-sold, these companies just want your money.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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Hi, this is awful. I'd contact Citizens Advice, they have quite a lot of information on their website, link to some of it is here https://www.citizensadvice.org.uk/debt-and-money/debt-solutions/individual-voluntary-arrangements/individual-voluntary-arrangements-explained/what-is-an-individual-voluntary-arrangement/
And yes, I also agree that you should definitely make a complaint. You've been treated really badly and it's continuing.
Citizens Advice should be able to help you further, though, if you contact them. Hope you get it sorted very soon.
Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.0 -
There really needs to be some better legislation around IVAs, this is appalling."You've been reading SOS when it's just your clock reading 5:05 "1
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