Hi Michael thank you very much for your help I will do that from now on I really didnt know and have sometimes had to use food money for the smaller things anyway we live and learn thanks again.

Hi Beans on toast your right there but I didnt realise what michael said is correct because this is my first year in an iva and when I asked for some money for the house repairs I was told sorry but creditors are entitled to 100% but I am going to do it different now I am going to pay for the costs ...

Hi All thanks for your comments the reason I want a contingency is because I could still pay the creditors £890 per month compared to the £552 proposed amount and by having the contingency means I wouldnt have to miss any more payments I am only allowed 2 and they will automatically file for my bank...

Hi Relieved33 The upkeep does form part of the rent but the iva takes all of the rent on top of my normal payments but the problem I have is that I needed my roof repaired on my house december so I had a £500 payment break so they added a 73rd month on whereas if I had been allowed a £50 contingency...

Hi I am currently in an IVA and have two properties with £0 contingency I was wondering if you could help me do you think that I would be allowed £50 for the house I live in and £30 for the rental house. I feel that it is essential to have this as the way I look at it is whats the point of owning a ...

Hi thanks both for your reply.
I understand now and feel a lot better xx

Just wondering we entered our iva with 12 creditors but my report is showing only 6 have put a claim in what happens with the other creditors and what about the money as at the moment I am paying nearly double the proposed amount and the 6 that have put their claim in would have been paid in full pl...

Hi thank you for your reply
My original debt was for £55626 iva plan would pay back £39744
if I had already paid £39744 after releasing equity would they then make me stay for the 6th year in a hope of recovering the origianl amount?

Thanks

Hi I have a question on this I have a clause in the 5th year
of releasing equity does this mean if there is equity I would
finish in the 5th year or will I still have to make 72 payments?

Thanks

ok I will query them tomorrow and thank you for your advice xx

Hi
We had to sign one of these as well it is just a security measure
for the creditors and the experts on here are brilliant and should be
along soon with more help xx

Hi Melanie I think I have just worked it out the original proposal was for 60 months and this is now 72 so I have worked out that the amount we are paying is 50p in the pound. So the total actual amount of debt was £55626 fees total £11928 which would mean we would pay back 50% does this sound bette...

Hi Thank you very much for replying to me Truthfully I only have the original proposal where we would pay £497 and would be paying 32% but the creditors made a change requesting an extra £55 and extended it for another 12 months If it is a joint Iva does it mean we are paying 32% each maybe? Oh and ...

Hi We are in a joint Iva and our original total debt was £56000 and our proposal states we will pay £552 for 72 months paying back a total of £39744.Now I understand that there are IP fees to pay as well but I cant work out based on the above figures how we are only paying 33p in the pound can anyon...