Hi everyone. I am in an iva with my husband and it has ran for two years gone august. I am finding it so difficult at the min and sometimes feel like the end of this is not in sight! I have two children, youngest is only four months and money is so tight. I spoke to accuma to ask for possible variation but they said they didnt see any reason why i couldnt keep to my payments in light of my I & E. My food bills have risen alot and also the cost of clothing us has risen to which i tried to get across to them. Always been helpful in the past but not this time. Feel very alone at min and desperately dont want my iva to fail. To make matters worse my mam helped us with our wedding two years ago and put it on her credit card so now i have a payment to make to her which cannot be considered for I & E i appreciate that. It just seems like such a mess and im feeling bit low on ground! Sorry to complain as i know everyone is finding it hard at min. We took the iva so that when our children started school we would be sorted financially and i stand by my decison but its so hard sometimes. We are 1 and bit payments behind with iva due to massive car repair bills that have landed on us and our boiler going wrong! Have now taken cover on appliances at a cost of £30pm for all as couldnt imagine how would cope if something went wrong but to be honest its £30 havent got, what do I do? Any advice anyone?? Thinking of missing my mortgage payment this month just so have some money for xmas, how stupid is that!!!
First things first - please do not miss your mortgage payment. Your house is not worth losing just so that you can buy a few christmas presents.
Secondly, have you completed an income and expenditure review recently? If not you should ask your IP that he do one which takes into account your increased living costs. If you are able to supply a few weeks supermarket receipts this will help your argument that your shopping bills have increased.
If you are finding it difficult to meet the payments to your IVA and this is substantiated by your income and expenditure, then your IP should return to your creditors and ask them to accept a reduced offer. He may also be able to ask the creditors to ratify (forgive) the arrears on your arrangement.
Ask to speak to your IP directly if you are not getting much sympathy from his administrators.
Kind regards, Elizabeth Pywowarczuk, Insolvency Practitioner.
If you would like me to advise you about an IVA and if appropriate propose one for you, please visit my website at www.liberta.uk.com
Just wanted to welcome you to the forum. Please don't feel alone. You are amongst friends here and if you keep posting you will get great support and advice.
I don't know how much you owe your mom, but she really should have been included as a creditor in your IVA. Sometimes family members are asked to step aside and not receive payments, but I believe some do receive payments. Could she possibly wait until you have finished your IVA for you to repay her?
I would go back to your IP and ask for an explanation...if the I&E form shows you cannot make the original agreed payment then I can't see why a variation meeting cannot be called.
My hubby is with Accuma and they really are frustrating. We seem to be able to email our IP and he replies, but we have yet to speak to the man...it seems one of the administrator looks after things. We are asking for a variation at the moment, due to car repairs and the fact that the payments were too high in the first place. Of course, thats only our opinions and we did agree so we only have ourselves to blame.
I can understand you wanted to miss a mortgage payment to help towards Christmas. Its easy to say you shouldn't, but when you have children you'll do what you can to make Christmas special. Try to think, children will forget about the expensive presents but will always remember the love and fun you provide.
If you do still decide to free up money via your mortgage, can you take a mortgage break rather than missing a payment? Or will the new reduced rates help you at all?
