IVA contributions gone up unreasonably!
HI
I have an IVA taken out in November 2018. Initially my monthly payments were £85.
The monthly payment increased to £182 in January last year, then to £392 without sufficient warning; after the most recent annual review (Nov) payment have now increased to £505 per month. I did challenge this, but they argued back and didn't provide an explanation.
I have checked my IVA agreement and it states initial payments will be £85 for 29 months and then increase to £267 for a further 31 months.
Can anyone advise what I can do?
I have an IVA taken out in November 2018. Initially my monthly payments were £85.
The monthly payment increased to £182 in January last year, then to £392 without sufficient warning; after the most recent annual review (Nov) payment have now increased to £505 per month. I did challenge this, but they argued back and didn't provide an explanation.
I have checked my IVA agreement and it states initial payments will be £85 for 29 months and then increase to £267 for a further 31 months.
Can anyone advise what I can do?
0
Comments
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If your income increases, then so do your payments, that is why its imperative the budget you fill in does not show a surplus of disposable income.
However if you remain unhappy, then make an official written complaint to your IP.
Debt Camel covers the process, here -
How to complain about an IVA (debtcamel.co.uk)
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