If the intrest rate's went throught the roof

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lee.g

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Post by lee.g » Fri Aug 08, 2008 12:09 am
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If the intrest rate's went throught the roof during an IVA, what would happen?
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MelanieGiles

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Post by MelanieGiles » Fri Aug 08, 2008 12:10 am
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Hi lee and welcome to the forum

Do you mean if they went up on a mortgage and/or secured loan which you might have?
Regards, Melanie Giles, Insolvency Practitioner
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lee.g

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Post by lee.g » Mon Aug 11, 2008 9:00 am
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Yes Melanie.

Thanks for answering.
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MelanieGiles

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Post by MelanieGiles » Mon Aug 11, 2008 9:33 am
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Then you would have to prepare a revised income and expenditure account showing the higher figures and send this to your IP. It may be necessary to get your IVA payments lowered to accomodate the increased costs.
Regards, Melanie Giles, Insolvency Practitioner
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lee.g

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Post by lee.g » Mon Aug 11, 2008 11:30 am
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Thank you for your very quick response.

You have been most helpful.

Lee
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