I wish I hadn't done this.

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kah

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Post by kah » Fri Feb 02, 2007 6:34 pm
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I am 13 months into my IVA (basically because of messy divorce debts) It allows me to pay my son's college fees - but because I have a relatively high income - he can't get a full student loan. When I began all this the Superviser said I would be allowed this top up money - but this was no the case. One year into his course, I think he'll have to give up. He has been working so that he can pay rent - but the £3000 loan he is able to get (rather than£5,500) + money from supermarket shelf filling just about pays the tent - not food. I wish I hadn't done this.
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neverending

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Post by neverending » Fri Feb 02, 2007 9:55 pm
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Kah
Welcome
Speak with your Ip and explain the situation,you must try and stick with your IVA.There may be a way that your IP can reduce your payments for a while so that you can help your son,even if it means extending the term of your IVA.
Pick up that phone
Andy Davie
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iva_squirrel

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Post by iva_squirrel » Fri Feb 02, 2007 10:46 pm
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Hello Kah,

Neverending is right, you need to contact your IP as soon as possible.

It must be very difficult not being able to help your son at the moment but you should not blame yourself for your iva decision. Your intention was to sort your financial situation out. When there are difficulties and you feel down, this is the time to visualize, think and expect the positive.


Please call your IP on Monday.

Good luck


Kind regards,


Julia


For more information about IVAs, please visit my website:
www.supersonicsquirrel.net
Last edited by iva_squirrel on Fri Feb 02, 2007 10:49 pm, edited 1 time in total.
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MelanieGiles

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Post by MelanieGiles » Sat Feb 03, 2007 2:31 pm
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Can you explain what you mean by "top up money"?
How much are the monthly repayments to your IVA?
What dividend are you projecting to return?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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