cannot afford these payments. HELP!!! Please

[EMMAFUDGE]

Hi
My partner has an iva, which was based on his income at the time of £25,000 p.a., he was paying £358 a month over 5 years with a 4th year equity release clause. This was agreed in April 2007. In May he was off work sick through stress, and only received ssp, then left that job due to health reasons and started a new job, but got made redundant from that last october.

Since then he has been on unemployment benefit, but has made his payments for his iva on time with the help of family. His daughter is now 18 and today we have received a letter from DFD stating that his payments have now increased to £483, the difference being the amount of maintenance he has been paying his daughter. He cannot afford this, DFD are well aware of the situation regarding his unemployment and have copies of P45's P60's, etc. What can we do. We cannot afford these payments. HELP!!! Please.

[cfnc]

Might be a letter sent due to orginal information that they held, and was sent automatically. Try to speak direct to your IP.

Kirsty

[Loads]

Hi

You could contact your IP and ask for a payment break, they could give you one and put it on the back end of your IVA in other words extend your IVA for up to another 12 months. This would probably have to be agreed with your creds but at least it gives you a bit of time to sort things out[:)]

[aguise]

Hi there
contact yoru Ip and discuss whatoptions are avaliable to you. Better to do this now than leave it or struggle for too long.

Ang x

[indebtforever]

give them it straight if you were to go bancrupt as you have no job they would be getting very little back were as the payments you are paying was already agreed with creditors .do a new i e and tell them what you can afford or it bancrupcy i am sure the creditors will see plain sense[;)]

[Adam Davies]

Hi
You need to speak with your IP,you can't pay what you do not have
Regards

[charlotten]

HI

DFD strikes again! My husband and I are with them and we entered into the IVA in May 2006 and from day one we told them we couldn't afford the repayments of £478 a month. I complained every month and now we have decided to fail our IVA and liaise with our Creditors directly.
My husband is an Accountant and bankruptcy just wasn't an option. We fell behind with payments, we got into arrears with our council tax and we practically starved. DFD are f*c*ing useless. Lazy, stupid and incompetent.
DFD won't help your partner. They will not do anything to reduce your payments.
I would suggest you fail the IVA and either liaise with your Creditors and do a debt management program or take an IVA with a more reputable, caring company. I have heard marvellous things about Freeman Jones and My Vesta.

For two years DFD have ignored us, threatened us and done absolutely nothing to earn their fees or my respect. I despise them.

I hope it all works out ok. Do not allow this to upset you. I am 11 weeks pregnant and DFD's threats and negligence falls on deaf ears now.

Take care

[MelanieGiles]

"and from day one we told them we couldn't afford the repayments of £478 a month".

This statement is quite concerning Charlotte. If you knew from the beginning that you could not afford these payments, why enter into the agreement? The IVA proposal should have been based upon your own affordability, and it is no wonder you are struggling to meet the repayments.