I have also got a credit builder card with a £500 limit, I've had it a while now but my IVA is not complete although I have made all the payments. I've just had an increase applied to £600 and have asked my IP if I need to reduce back. However I am now really worried that I have breached my terms as...

I will call my IP tomorrow to ask them where I stand. I haven't approached them yet as I do quite like to get my ducks in a row first by sounding out peoples opinions or experience here first! We are with PayPlan and they seem to be quite open to discussion which is nice.

Thanks, I very much doubt i would get finance but replies were useful

Afternoon knowledgeable people. My partners car will be paid off in the next 6 months, we were allowed to continue the HP payments during the IVA. My question is whether or not I will be allowed to replace it with another one once it is paid off as it is well past its best and starting to cost us mo...

The remortgage thing won't happen as you will have insufficient equity, we are in the same boat. Some IVA's make you pay another 12 months in these cases, hoping ours doesn't as it is already 5 1/2 yrs long but probably heading that way.

I suppose what I am saying is that even if the I&E calculation looks like the IVA may be unaffordable can I still continue with it and just jiggle things round to ensure I can pay? Parents have offered som ad-hoc help.

Will discuss with IP but want to get some advice first

As in title I am really struggling with my IVA as my income and expenditure is constantly changing and this makes it impossible to maintain a steady balance of my finances. I'm about to rent my current house out and move into another property (rented), this will throw things even more. My question r...

Yikes, did you say the OR will take the rent from the current house?? How can they do that if that is simply forming part of my income? Without that going into the pot we can't afford to rent elsewhere.

Are you sure about that as it materially effects things!!

Due to a change in circumstances my family will need to move house in the near future. We plan to rent out the current property as it is in negative equity and rent elsewhere (albeit at a higher cost) as we need to be near London. The result of this change will mean that we will no longer have any s...

Gosh, sorry to hear this. Most will suggest that the first thing you should do is arrange to speak to your IP via the firm handling your IVA to see if they can do anything to review your payments. If you really can't sort it out there is always Bankruptcy but if you do have some disposable income yo...

We will need to go through an agency really due to it being a re-location so the internet is the source we are using to find suitable property. Trouble is we need to let our present house out first so we know we are in a position to go, so it could get tricky.

Nothing is ever simple is it !!

Thanks that's great, the term is already 69 months so really don't want another 12 on top!

In my IVA, one creditor asked for an equity release in Yr5 of the IVA as a modification to the original proposal which didn't offer this (I guess due to negative equity). So my question is what would happen in Yr5? If I am still in negative eqty or indeed can't raise the money due to no access to a ...

Is it possible to rent whilst in an IVA?

I.E. Will the rental agency run a credit check on me and thus not let me a property due to my very low credit score?

I thought the Default would stay there for 6 years so if paid off early there will still be the remainder of the time since the IVA started where they will show on the credit file?