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Helen.cl
- Posts: 2
- Joined: Mon Jun 09, 2014 3:50 pm
I have another question which no-one has been able to answer, all I get from my IVA company is that its Creditors guidelines. I have been paying my IVA for 4 1/2 years, each review I get a basic pay rise for cost of living and they take the extra off me, yet cost if living, despite increasing grealy over the last 5 years has remained the same throughout. Surely this is not right.
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MJS
- Posts: 13
- Joined: Thu Jun 05, 2014 2:09 pm
- Location: United Kingdom
Post
by
MJS » Mon Jun 09, 2014 4:09 pm
The guidelines they are most probably referring to are the CCCS guidelines, which are amended and released on an annual basis, in October.
If you have been in your IVA for a four and half years, then it would seem strange that they haven't even queried at Annual Reviews as to whether any of your basis living costs have increased. This could be used to offset any increase in monthly repayments.
Having said that, these are guidelines, and if you have haven't stated to the Insolvency Practitioner at any time that you are struggling or your cost of living has increased, they may well have made the assumption that you are content to make higher monthly repayments.
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Adam Davies
- Posts: 14596
- Joined: Thu Mar 29, 2007 12:21 pm
- Location:
Hi and welcome
Your living expenses should increase in line with your cost of living pay award. Go back and challenge your IP about this, you should have increased costs for food, petrol and utilities resulting in your IVA payments remaining very much the same
Regards
Andam Davies
