Ok so this apparent need for a variation meeting is mithering me so i've worked out what i think it would mean to the creditors:
Original IVA payments
1-6 £207
7-47 £357
48-60 £497
Total £22,340
Following discussions with the case worker and his confirmation that any surplus income (with the exception of HP agreements ending) would only mean 50% being paid in I get a revised payment schedule of:
1-4 £207
5-14 £302
15-44 £402
45-60 £542
New Total £24,580
Now surely, unless my maths is wrong this means the creditors will get more?! And if this is correct then why is there a need for a variation meeting?!
CONFUSED!!!
When you make a mistake, don't look back at it long...the past cannot be changed. It is the present and future that counts
Hi Vimto
Apologies for only picking this up now. Without going into case specifics I would like to be able to look into this offline if that’s possible.
If you could drop me an email that would be great.
Well..update..as always Declan assured that my queries were dealt with to the best of his ability!
Had a phone call about my pension and rather than me have to reduce my contribution to 0.01% they are going to hopefully get it confirmed that I can maintain my contributions at 3% whilst in the IVA [:)]
Was also contacted about the proposed variation meeting and given an apparent explanation as to why one is neeeded. Was told that they would need a copy of my house completion statement 'for their records' but that I would receive the variation report 'in due course'.
Chased it up today to be told that they are unable to do the variation report without the completion statement! Why they didnt say this before I'll never know!! So...looks like more anxiously waiting now!! [V]
When you make a mistake, don't look back at it long...the past cannot be changed. It is the present and future that counts
...sent proof of my current pension contributions in and proof that my other half has no pension so hopefully just waiting to hear that my supervisor is happy for me to reduce my contributions to 3% without having to stop them altogether
STILL awaiting the variation report though..was told it should take no more than 14 days..today is day 15 and still havent heard anything. Chased it yesterday and guess what...no reply!! [:(]
So..quick question for you all...do I continue to make payments as normal in the meantime?
When you make a mistake, don't look back at it long...the past cannot be changed. It is the present and future that counts
