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Worried about collection agents chasing you while your debt increases? Talk to us today.

ADDRESS

Floor 3, Marsland House,
Marsland Road, Sale,
Cheshire M33 3AQ

0333 987 0005

NEW ENQUIRIES
Mon-Thu: 9:30am-6:30pm
Fri: 9am-4:30pm

Existing Clients

If you are going to struggle to make the next month or two’s payments due to unforeseen expenditure (eg washing machine repairs) please send us evidence and we may be able to grant you a payment holiday.

Any payments missed will not count as arrears and will be added to the end of your IVA before it completes.

If you will struggle to make your IVA payments and this is likely to be for the long term, such as a permanent reduction in income or increased expenditure, we will need to do a review of your income and expenditure to see what you can afford. We might need to ask your creditors if they will allow you to reduce your payments.

Please contact us to activate your income and expenditure, you will also need to provide evidence of the change.

If you have been made redundant, some of your redundancy payment may be due into your IVA. Please email confirmation of your redundancy pay.

If you have lost your job, you need to contact us - we can help. We may need to do a review of your income and expenditure depending on your circumstances, as Supervisor we may be able to offer payment breaks or reduced payments.

If you do need to complete a new income and expenditure, please include details of any benefits you will be claiming until you find alternative work, or if you have a new job lined up, details of your new salary.

Congratulations!

We know that having a baby, whether it’s your first, fourth or tenth is an exciting time. We also know there will be additional things you need to buy and changes to your income.

We will need to do a review of your income and expenditure and find out about those essential purchases you’re your baby.

Please email details.

It is possible to get a new car on hire purchase, but the lender will want confirmation from your Supervisor before they lend you the money. Before we provide the confirmation to the lender we will need to make sure the payments for your car won’t impact your IVA payment.

We will need to do a review of your income and expenditure and find out details of your proposed hire purchase – the car you will be getting, the monthly payment and length of agreement. We may need to ask for your creditors’ permission for this to proceed.

Please email these details.

Yes, it is possible to attend university or take on a course to further your education or future job prospects. It is likely that you will need to obtain finance to pay for your fees and supplement your income whilst studying.

It’s important that we know how you plan to manage your payments to your IVA during your study time, so we will need to complete a review of your income and expenditure.

Please email documents.

It can take a few months after your IVA has been approved for creditors to update their records, so if your IVA has only recently been approved this is perfectly normal.

Creditors still need to send you annual statements, so you will still get these whilst you are in your IVA, but these are not demand for payments, so there is nothing to worry about, but if you are concerned you can send them on to us – please email a picture.

Please send us any paperwork you have about this debt – we will need to speak to this creditor and have them included in the IVA.

Depending on the amount of debt missed out, we might need to speak to all of your creditors to make sure they are happy with it being included, but we will take care of that for you.

You will find a list of all creditors included in your IVA in your original proposal document or your most recent annual report.

To work out how much equity you have, you will need to deduct your mortgage redemption figure and any secured loans from the valuation of your property. If you have more than £5,000 equity in your property, based on an 85% loan to value you will need to try and re-mortgage.

Example property valuation £100,000
Valuation at 85% loan to value £85,000
Less mortgage of £70,000
Equity = £15,000

As the equity is more than £5,000 you will need to try and re-mortgage. We can help you this this.

Please email your most recent mortgage statement.

The terms of your IVA state that in the final 6 months a review of your equity will take place and if there is over £5,000 equity based on an 85% loan to value, you will need to try and re-mortgage or if you can’t extend your IVA for 12 months instead.

No, you don’t need to sell your house.

Your IVA protects your property. The Supervisor will place a restriction on the Land Registry but that doesn’t give them the power to sell, it means that if your property is sold, they will be notified first.

Once your IVA is finished the restriction will be removed.

If you are thinking about selling your property, some funds may be due into your IVA so it’s best to speak to your Supervisor to talk about your options and let you solicitor have our details so we can talk to them about it.

The case of Green v Wright confirmed that where a “Trust” is created when your IVA started or at a subsequent meeting of creditors, this is still in place after your IVA finishes so you do need to pay into your IVA estate any asset that was an asset at the time your IVA started, even if you didn’t know it was an asset (such as PPI redress) or didn’t receive any funds from the asset until after the IVA has closed.

Unless your creditors have been paid in full (100p/£) then you will need to pay in any PPI redress received, even after your IVA has finished.

Depending on the terms of your IVA, you may be entitled to an element, known as statutory interest, of the redress awarded.

Given the high volume of PPI payments that claims management companies are dealing with and the corresponding volume that is then forwarded to Debt Movement for allocation to the correct account, the reconciliation process can take up to 90 days to complete, which may delay the processing of any refund due to you.

Your PPI money will be used to discharge any outstanding fees and costs, any costs of administering your IVA Trust (if your IVA has closed) and claims management company fees before being paid out to your creditors.

You may be entitled to an element, known as statutory interest, which will be paid to you once we have completed our reconciliation process.

First Dispute Management Ltd are a firm of solicitors who specialise in recovering compensation for an insolvent estate.

They have been instructed by your Supervisor to review any potential mis-selling claims

Click here to make a card payment.

Click here to make a card payment.

Please contact us with your IVA reference and we will confirm when your last scheduled payment is due.

Please call us on 0333 987 0000 to set up your direct debit.

If your refund is in relation to PPI, given the high volume of PPI payments that claims management companies are dealing with and the corresponding volume that is then forwarded to Debt Movement for allocation to the correct account, the reconciliation process can take up to 90 days to complete, which may delay the processing of any refund due to you.

If your refund is in relation to a contribution or other payment, please call us on 0333 987 0000 for an update.

If you will struggle to make your IVA payments and this is likely to be for the long term, such as a permanent reduction in income or increased expenditure, we will need to do a review of your income and expenditure to see what you can afford.

We might need to ask your creditors if they will allow you to reduce your payments. Please email/upload your income and expenditure together with evidence of the change.

If you will struggle to make the next month or two due to an unforeseen expenditure item (eg washing machine repair) please send us evidence and we can give you a payment holiday.

Any payments missed will not count as arrears and will be added to the end of your IVA before it can complete.

It’s really important that you don’t ignore missed payments as we do have discretion available to assist our clients during difficult periods. There are several options available to address the arrears and we will work with you to find the right solution.

If you believe that you will be unable to make either the full payment or part of the payment then we would ask that you contact us on 0333 987 0000 to discuss the circumstances with one of our advisors who will outline the options available to keep the IVA on track.

We are working hard to finalise our administration of your IVA; your final report should be with you within 3 months of your last payment.
Please contact us with your IVA reference and we will confirm when your last scheduled payment is due.

The case of Green v Wright confirmed that where a “Trust” is created when your IVA started or at a subsequent meeting of creditors, this is still in place after your IVA finishes so you do need to pay into your IVA estate any asset that was an asset at the time your IVA started, even if you didn’t know it was an asset (such as PPI redress) or didn’t receive any funds from the asset until after the IVA has closed.

Unless your creditors have been paid in full (100p/£) then you will need to pay in any PPI redress received, even after your IVA has finished.

If you will struggle to make your IVA payments and this is likely to be for the long term, we will need to do a review of your income and expenditure to see what you can afford.

We might need to ask your creditors if they will allow you to reduce your payments.

Please email/upload your income and expenditure together with evidence of furlough and how long you are likely to be on furlough (if known).

If you have lost your job, we can help. We will need to do a review of your income and expenditure.

Please include details of any benefits you will be claiming until you find alternative work, or if you have a new job lined up, details of your new salary.

We are sorry to hear that you are not coping well. If you are struggling with your payments, please get in touch with us on 0333 987 0000, we can help. If you are struggling and need someone to talk to click here.

You can make an application for a grant or bounce back loan whilst in your IVA, but you will need to make sure you can make the repayments from your business when they become due as they cannot be added into your IVA.

It is likely that the funds will be due to your IVA in full or to repay 100% of your debt plus costs of the arrangement.

We would be required to complete a calculation to determine how much of the funds may be due and require you to send us confirmation of the windfall/inheritance. Once received, we will work out the amount due and confirm to you.

If the windfall/inheritance is less than £500 then the funds would not be due to your arrangement. If over £500, it is possible that all the funds may not be due to the arrangement depending on the amount that would be required to repay 100 pence in the pound.

However, if all of the funds are due, it is possible to ask your creditors if you can retain a portion of the funds. This is done through a process called variation.

In order to proceed with a variation, we will require an updated income and expenditure review and details of why you wish to retain funds so that we can prepare a new proposal for your creditors.

The term of an IVA is a long time and we all know that a lot can change so it is important that we ensure the IVA remains affordable during that time.

It is also a requirement for the supervisor to increase contributions to the IVA if your circumstances improve (for example because you have changed jobs or received a promotion).

An IVA also contains a clause that means that if you earn additional income such as overtime, bonus or commission then a portion of these funds may be due to the arrangement to improve the return to your creditors.

The terms of the IVA state if additional income is earned then a portion of it may be due. The clause allows you to earn up to 10% of your basic net salary before there would be a requirement to pay these funds to your IVA and of the amount that is due to the arrangement, this is only 50% of the funds over and above the 10% you can earn.

For example, if your monthly take home pay is £2,000, you can earn up to £2,200 in a month. If, however, in a month you earned £2,500 then £150 would be due to your arrangement however you would also retain £150 as well as the 10%.

Any increase to your contributions will be based on all of the information you provided at your annual review.

It is important that you set aside time to review your income and outgoings to ensure the figures are accurate and provide documentary evidence of any changes that have occurred in the last 12 months such as an increase in utilities.

If your payments have increased and you believe you cannot afford to make them at this level, we will be required to re-review your income and expenditure details. Please contact us to have the Income and Expenditure review opened on your Docslink portal.

If you are unable to submit the income and expenditure review online, we would ask that you prepare your income and expenditure and give us a call on 03339 870 000 where an advisor will take the figures from you and load the review with the appropriate team.

Any supporting documents can be emailed or posted to us to enable the review to be completed.

There are a number of different documents you can provide to allow your review to be completed:

  1. Payslips – these can be obtained from your employer directly and in the current climate most companies make these available electronically so you can simply download a copy and upload to your Docslink portal.
  2. Bank statements – with online banking, accessing your statements have never been easier. Simply download a copy of the appropriate statement and upload to your Docslink portal. Most banks hold 12 months statements or 200 transactions which will be readily available online and we only require your latest 3 months statements.
  3. Utiliy bills – if one of your household bills have changed they will be required to notify you in writing. You can simply take a photo of that bill and upload to your docslink portal.
  4. Benefits – HMRC and DWP have moved a lot of their information online so it makes it easier to get details on your entitlement if you do not have a copy of the letter handy. Simply take a screenprint and upload to your Docslink portal.
  5. Self employed – a copy of your latest accounts or projections for the year ahead will be sufficient.

In the absence of proof that an expense has changed, we may be unable to accept the change so it is important that you keep a record of this information however your bank statements should largely cover this requirement.

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