My husband and I have recent;y split. I can afford to pay the mortgage, bills etc from my own salary but this would leave a far reduced payment into the IVA than I was previously making. Will this cause any issues? I can't sell the house as it's in negative equity and I have no other assets. I have informed my case officer of the situation.
You can ask your IP to call a variation meeting to see if your creditors accept a reduced payment, but they may decide your mortgage payments are too high compared with renting for example.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It may be possible for you to put forward a variation to the terms of your original IVA, to pay lower payments as a result of your change of circumstances. Take advice from your own IP who is best placed to guide on matters like this.
