"If it's 144 for 4 years = 6912, but 120 with 2 years extension = 8640 ... plus the burden of carrying this extra time ... In the case they would 'offer' the second option only, could I say no thank you, I prefer to stick to the 15% off with no extension?" You could try, but I doubt they will allow...

OK -- that sounds a little more in line with what I would expect. I cannot advise you how you should proceed, not being qualified nor licenced to give such specific advice. All I am able to do is examine possibilities and be a sounding board. Any attempt to reduce below £144 will add in the gamble ...

In the £144 scenario I assume they are relying on the discretion they are usually granted to be able to reduce by up to 15%. I am concerned about the "£120 and extend by 2 years", as this would, I feel, need to be run by the creditors (who could refuse) -- I could be wrong, by my fear is that the I...

They can stop the IVA failing because of a further missed payment by formally agreeing a payment break -- but they do not seem to be trying to help at all ! Yes, if the IVA fails the creditors will add back lost interest and can then enforce the debts again. Most of the money paid over in the early...

Given the fact that you cannot make even the proposed reduced payment, you could risk all and ask to go to the creditors asking for a F&F based on payments made to date, or a reduction to an affordable level. The risk here is that they will simply say to fail the arrangement and all will go down th...

There are a couple of firms who will not allow direct access to the IP -- which I think is an absolute disgrace that someone who is in the position of supposedly helping his or her clients is so far up their own behind as to refuse to sully themselves by talking to those who provide their income. R...

The reply to my email, asking to talk to my IP, comes as follows: Good afternoon, Thank you for your email. Unfortunately that will not be possible as IP's do not deal directly with clients. Any enquiries must go through customer service where you can be transferred to different departments however ...

Hi Foggy, as you've been very helpful so far, I come to you again .. my IVA is really worrying me right now. I have requested via email and on the phone to speak to my IP, then first got an email back from the person who did my review, setting up a phone appointment, she called me, it rang once then...

Have a look at your proposal -- there is usually a clause in there allowing for an up to 15% reduction, with no extensions (this is at the IP's discretion though -- but, so far, I feel, the call handler has not even consulted the IP. If you have this clause, quote it to the call handler. You need t...

My, Creditfix are, in my eyes, the Easyjet of the IVA world .... keep things simple and knock em out fast. They tend to gloss over details in the need for speed and you do have to ride them and keep them on track .. when challenged they generally see the light and, to be fair, most of the glossing ...

My, Creditfix are, in my eyes, the Easyjet of the IVA world .... keep things simple and knock em out fast. They tend to gloss over details in the need for speed and you do have to ride them and keep them on track .. when challenged they generally see the light and, to be fair, most of the glossing ...

How long have you been in your IVA? I would suggest you need to speak to your IP again and say you wanted it reported as a change of circumstance rather than just your annual review. I had a change of circumstances, I had to give up work. I provided evidence as to the reason my change came about an...

You can request a reduction or if you cannot maintain any payments creditors may accept what has been paid to date as full and final settlement. Go back to CF and do a new I&E which can be used for any variation. Thank you Michael. I sent in the I&E already and they said it all remains the same, bu...

Payments can be reduced if needed -- your IP is either playing hardball or the problem lies with your spending habits not adjusting to the new budget. Why are you £200 down each month? Has your pay been cut ? Yes, by more than half. Most agreements allow the IP the discretion to reduce payments by ...

Foggy wrote:

Payments can be reduced if needed -- your IP is either playing hardball or the problem lies with your spending habits not adjusting to the new budget. Why are you £200 down each month? Has your pay been cut ?

Yes, by more than half.