Hi, I have an iva and at the time of applying had working tax credit, esa & my wifes sallary. unfortunately working tax credit was a miscalculation and i do not receive it any more but i now do get esa, my wifes sallary and pip. will pip be counted as income, if it isn't I don't have enoughh for the iva? what will happen? Im in dire straits please help.
Pip can be counted as income, but is usually offset by the expenses it is intended to be used to cover.
If you are struggling in meeting the agreed payment you really ned to do a full review with your IP to see if they can get creditors to agree to reduced payments. There might also be the possibility ( depending upon this being in your agreement ) that your payments could be reduced by up to 15% without having to ask creditor approval.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
