I have just split up with my partner of 13 years. I'm going to try to stay in the rent house by my self it going to be tough but my family going to help.
All my money wil now go on the house and the iva. I no the iva will be re looked at just wonder if anyone noes how, I phoned and got a final settle figure and this is just over £13k, when they look at my iva again will my just reduce the figure or just start again?
You will need to fill in a fresh income and expenditure form to show your true disposable income and your IVA payments should then reduce to this figure.
If things are too tight please consider bankruptcy
Speak to your IP and request an immediate payment break. This will allow yourselves to look at all the options available including bankruptcy or closure of the IVAs as full and final with funds paid to date.
Sorry to hear you change in circumstances. Have a conversation with your expert who will be able to offer you a review of your income and expenditure. Once this is done you will know where you stand with your monthly budget. Unfortunately ppi is seen differently and often taken as a windfall to go towards your original debt in addition to your agreed iva monthly payments.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !