Hello. Now about the start my fourth year on IVA. The currant year has been quite tough.

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ASSISTME

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Post by ASSISTME » Mon Aug 29, 2016 10:23 pm
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Hello. Now about the start my fourth year on iva. This current year has been quite tough. So for my upcoming review, do I include my current iva payment on the income/expenditure form. Otherwise, it seems stupid NOT to include it. Thanks everyone who would assist me with this !!!
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Michael Peoples

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Post by Michael Peoples » Mon Aug 29, 2016 10:49 pm
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You need to work out your I&E before the IVA payment as the payment should be based on affordability. If you need a reduction the I&E would then show this.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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Foggy

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Post by Foggy » Tue Aug 30, 2016 9:18 am
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You don't include it in the initial work up -- the payment is the result of taking your net outgoings away from your net income, so it is not part of the calculation but is the result of the calculation.
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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Helen.k

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Post by Helen.k » Tue Aug 30, 2016 9:53 am
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Speak to your ip if you're struggling, they may be able use their discretion to reduce your payments a little, ours did when we had a tough year
getting there ....

Got there!!
IVA started 27/10/2010
final payment 27/10/2015
CC received 6/5/16
Off the register 5/8/16
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