Thats alot to increase it by ..be sure you understand fully the implications And the cuts that would be needed to accomodate this ... best to think now then agree to something that may be difficult later.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
The £60 extra is a lot when reading your historical posts you said the spare that you had was £80 a month, a whopping 75% increase if that's what your proposal said was spare !!
Does your practitioner think its reasonable or do they think they should challenge it ? I'm presuming they would still make more on your original proposal than bankruptcy ?
As everyone else says, no point in committing to an IVA that has a high chance of failure during the term, your household bills are only going to go up with inflation rather than fall and will your pay increases outpace those increases ?
Hopefully your IP will challenge this £60 extra if they don't believe it is achievable, and more importantly if you don't think it is sustainable.
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
