IVA Review

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samrose

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Post by samrose » Sun Jul 29, 2007 10:14 pm
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I am currently one year into my iva and my income has increased but me and my wife have not saved any of this increase i am also finding it very hard to stop my wife spending the extra money as she says why should she suffer from my debt what will happen at my review

p rose
p rose
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Adam Davies

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Post by Adam Davies » Mon Jul 30, 2007 12:26 pm
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Hi and welcome
You will find that you will need to fill in a fresh income and expenditure form and hopefully part of your extra income will be off set by increased expenses[petrol,utility bills etc]
Your IP will set a new figure for your IVA and you
must stick to this.
If your extra income is due to overtime and you have the usual 50/50 clause then you may be required to pay this over to your IP.If you do not have this then you may be able to pay it monthly on top of your new IVA figure.
It would be sensible to send 50% of your overtime direct to your IP as and when you earn it so that it isn,t spent.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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