Well since my IVA got accepted in May 2008 i have made the £270 a month payments regulary and have been managing okish, things have been a lot less stressful, only had a couple of letters through and they have been relatively easy to deal with.
BUT...
This month i fell behing with my IVA mainly because my bank took out some bank charges for a couple of unpaid cheques that left earlier than i intended for them to go. So one weeks money i had got swallowed up which my bank is investigating and i may or may not get it back.
My IVA company have agreed to miss this months money and i pay them it back £90 extra for the next 3 months to cover it. So far so good.
The reason for my shortage last month was because my Housing benefit was cut quite considerably because they had my childcare being at £78 but my its actually £179 but they saw from my tax credits form that i get the higher amount of tax credits (which pays for some of my childcare) - so they see me as having more money than i actually do. They are reassesing it and hopefully it will be backdated til the beginning of november when they cut it down.
However, if they do backdate it,it will come to me first and then i will have to pay it to my landlord because i am falling behind in my rent - approx £500 behind. He is being very understanding about it which is lucky but i cant count on it staying that way.
Hopefully when i am re-organised again in the new year i will get back on top of things and can relax again.
Ah!!Merry Christmas and a happy 2009 to you too,inabitoftrouble.[:)]..hope you manage to get re-organised and settled again in the new year..Good Luck..xx
IVA accepted 13/11/2008..17 payments down,55 to go..
I think it might be time for your to do a new I&E and see whether you can realistically continue in an IVA - if you are falling behind with things then maybe a different route or a variation may need to be considered to support you through this time.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Re-check your income and outgoings carefully to ascertain whether the monthly IVA figure is sustainable. You have been going 6 months but for a number of reasons your are struggling now. This may or may not have been forseeable - but check your figures and let your IP know the current position and see what other help can be initiated - even a variation is possible - because of current changed circumstances.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
