Creditfix - IVA annual review

BreakdownPending

Hi I am looking for advice.

I am currently in an IVA with creditfix.
I have paid £256 x 39 months so have 21 months left to pay.

My IVA started with hanover insolvency and was taken over by credit fix.

I have had just 1 annual review in my first year where I had to pay £50 addition due to overtime and the continued with the same monthly payments.

I hadn’t been contacted again until now. I almost forgot I was in an IVA

I have been contacted and submitted payslips, statements and I&E and I am waiting to be contacted back. I am beside myself with worry because I have earned more, I transfer to a family member for my share of the monthly shop and I transfer to a friend if they have paid for something whilst out etc.

I am now just waiting for creditfix to come back to me but I am convincing myself that the worst will happen and I will have breached in some way

any advice I will massively appreciated

sourcrates

Best advice is don`t overthink things, you are allowed something of a life, you haven`t breached anything, and as Creditfix are not the brightest of Insolvency Practitioners, I doubt anyone even looks at your spending.

So relax, you`re more likely to win lotto than have your IVA cancelled, they`ll want their fee`s you see, you and 1000`s like you are very important to Creditfix, as you are their main source of income.

fatbelly

Agreed. Terminating the IVA is the last thing they want. They may ask for an increase in monthly payments but you can have a discussion at that time

How much was your total debt?

BreakdownPending

Hi both

Thankyou so much for responding. I have not been able to eat or sleep with worry for almost 10 days. I am making myself ill with worry.

I know that sounds ridiculous but I just can’t control it. Now I have another weekend to get through whilst they are closed.

On my app the total debt is 39k.

Thanks again for your responses - I really appreciate it.

I am going through all of this without anyone knowing so I just didn’t know where else to turn to 

sourcrates

Honestly its not worth getting upset about, and I really don`t want this to be on your mind for no good reason.

On a scale of 0-10 of issues that should bother you, whereabouts do you think, say a 17 year old office junior, that works part time, checking income/expenditure values on clients annual IVA review lists, in between checking their fake eyelashes, topping up their fake tan, and posting fake pictures of their half eaten lunch on tic tock, should be in your list of priorities?

Exactly zero is where!!

Forget about it, and please get on with your weekend, the worst case scenario is your payments might go up, that`s it, its no biggy, honestly.

I have been through a 6 year IVA, and a 12 month DRO (because I didn`t learn my lesson the first time) I know how these companies operate and they just don`t care what you do, honestly you could go and blow it on Hookers and cocaine and NO ONE WOULD CARE.

That is the level of due diligence we are talking about, please try and relax, nothing is going to happen here.

BreakdownPending

Thankyou Sourcrates.

I have had myself in such a state. Don’t get me wrong I probably won’t settle until I’ve had the dreaded phone call. But you’re speedy and to the point responses have lifted me already!!! Made me laugh a little too  

Thankyou so much.

All I want is to get through this in the 60 months and be done with it so I can move on without the worry of stepping out of line.

I will try to stop worrying.

I just convinced myself they would breach me for my increased income and they would interrogate me about why I have transferred money to certain people etc 

Im new to this forum. I am due the call at somepoint next week for the annual review. Is it helpful for others if I update with the outcome or is it preferred  or to?

You must be one strong willed person to get through 6 years and another year DRO! I really appreciate you on here helping me and many others

RAS

Be honest. "I can't get credit so x pays my yy bill. Happy to provide you with copies of the bill."

If they ask.

sourcrates

BreakdownPending said:

Thankyou Sourcrates.

You must be one strong willed person to get through 6 years and another year DRO! I really appreciate you on here helping me and many others

Really its all about knowing that financial companies and the people that work for them, do not rule your life.

Nor do they have any say in it, other than what is required by legislation.

Money/debt/IVA, not worth worrying about, health, family, job, friends, wellbeing........that`s what matters.

BreakdownPending

Thanks again. I really appreciate your advice and reassurance!

Fingers crossed it all goes smoothly and the increase isn’t too much!

All I want is to get through the 21 remaining months and for it all to be over 

BreakdownPending

Me again still worrying.

Will they back date the increased pay so I will be hit with fee that is owed?

sourcrates

BreakdownPending said:

Me again still worrying.

Will they back date the increased pay so I will be hit with fee that is owed?

No, there is no back dating, any increase in payments will be from the next payment due after your review.

You do realise that if you disagree with anything your IP does, instead of worrying about it, you can complain and say no, I`m not happy with that, and then state your reasons why.

There is an informal, and a formal complaints process, if your not happy with any decisions you feel are unfair, you can informally ask them to reconsider the decision, and if that fails, there is a formal complaints path to follow.

Do not for one second think that just because this company administers your IVA they have any control over and above what is generally expected of you, because they don`t, you must stand up for yourself as no one else will.