2nd payment

[camiva]

Hi all,

Well I have made my second payment. It does feel better as time goes by. I have been reading all this stuff about creditors increasing IVA payments and hope that that does not happen to me. I am happy to say that all my creditors have now stoped calling and writing to me. Some days I almost feel normal and for a few hours I don't think about my IVA at all. I know I have a long way to go. It does feel much better. Hope that this helps anyone out there just starting. Here is to a good year and no unplesent letters in the mail.

[MelanieGiles]

Hi camiva

Two down - fifty eight to go! As you are already in an IVA, your creditors no longer have any real say-so in increasing your payments. That is now down to your IP at the annual review stage, and do make sure that you keep detailed records of your expenditure during this current year, to justify any adjustments you may need to make at the anniversary date.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[camiva]

Thanks Melanie, since my 1st payment in December I have been keeping track of expenditure. I am determine to make this wrok. Your advice on this forum has been great.

[Sarah]

Kepp going that is a great attitude to have just think that when you are out of the IVA then you are going to be able to manage your money so much better. And be debt free! It really is a great feeling everytime you make one more payment and you know that you are on your way to a better quality of life!

[finebridge]

Hi,
What a pleasent post Camiva & Sarah, it makes my job worth while to hear such positive thought!
Just to re ittarate what Melanie has already stated your IP should review your case annually and if your income & expenditure run along the same trend then your payment should stay the same.

Hope this helps.

Kind Regards

Nicola

Finebridge Ltd
22 Laud Street, Croydon, CR0 1SU
0800 180 4212
www.finebridge.co.uk

[camiva]

Thanks to you all. I'll keep posting and let you all know about anything that I come across.

[neverending]

Camiva
If your IVA states that 50% of any overtime you earn has to be paid into your IVA[and most do] then I advise you to pay it as and when you earn it.This will stop any nasty suprises at your year end review.