Iwoca payment plan

[Overloaded]

debt Payments too high - but income good - so have just put all debts on a payment plan to reduce debt outgoings to £1500 a month for 2.5 years till all cleared
This completely fixes our business and clears all debt instead of constantly borrowing more

capital on tap - agreed
Lloyds - awaiting response , not worried as a bank , they will accep
Just cash flow plc - no response at all , missed two payments now and nothing , not even chasing payment (this worries me more)
Iwoca - playing hardball , communicating well
But won’t accept my £262 a month , they want £285 , I’ve stuck to my guns and will pay £262

any advice , anyone done anything similar ,

 

[Mr D]

Pay what you are offering.
Iwoca - ask them how they get £285. Maybe its a policy, maybe they are ignoring part of the budget you gave them.

 

[Lisa Thomas]

Keep a thorough record of all decisions made and regularly review financial figures, accounts and cashflows in case of any subsequent insolvency procedure and claim of wrongful trading.