Iwoca payment plan

Discussion in 'Insolvency' started by Overloaded, Dec 18, 2019.

  1. Overloaded

    Overloaded UKBF Newcomer Free Member

    28 0
    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 ,
    Posted: Dec 18, 2019 By: Overloaded Member since: Aug 1, 2019
  2. Mr D

    Mr D UKBF Legend Free Member

    22,762 2,737
    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.
    Posted: Dec 18, 2019 By: Mr D Member since: Feb 12, 2017
  3. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    3,515 445
    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.
    Posted: Dec 18, 2019 By: Lisa Thomas Member since: Apr 20, 2015