Childcare 30 Free Hours

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GoonerDad

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Post by GoonerDad » Thu Jul 12, 2018 2:18 pm
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Have an upcoming saving on childcare (£370 ish) a month. Do I have to inform Creditfix? If so will they put my payment up £370 from £100 to £470?

Wondering whether to try and get family to settle the IVA early before this change of circumstance.
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MerlinL14

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Post by MerlinL14 » Thu Jul 12, 2018 2:44 pm
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Technically yes, any increase in income or saving from depreciation of an outgoing bill should be paid to the IVA.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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Foggy

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Post by Foggy » Thu Jul 12, 2018 3:03 pm
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As Merlin says, this "saving" will be added to your disposable income and, therefore, to your IVA payment. If you can get a F&F through, based on the current payment, it will work out a lot less expensive ... but .. there is always a "but" .... CF are currently at odds with creditors over their paperwork and variations such as this are currently on hold ... nobody knows for how long!

Another way of looking at this, if you do get to have to increase your IVA payment ....... you will be no better off, yes, but, you will be no worse off.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Francesca

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Post by Francesca » Wed Aug 15, 2018 5:58 pm
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Hi GoonerDad. I am wondering how have you sorted 30h free hours situation with CF? If you could share, as soon I will be in a smiliar position. Thank you
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