i got iva plan but my salary go up i used to take 1100 now i take almost 1450 pounds but in meantime i got mny charges so what the best way to keep my plan payement iva as 70pounds without sharing he half of my extra salary?
You will.need to.seek a review of your income snd expenditure showing your new salary and the outgoings as they have changed ..this will then offset some of the increase in salary and reduce the amount to be added into your iva payment.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
You can only include legitimate and agreed increases in outgoings to minimise any payment increase which you agreed to abide by when signing your proposal.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
At £70 per month there will be ongoing pressures to increase your payments.
You are at the very lowest for what is regarded as a viable IVA.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
At £70 it may have been that your expenses were reduced below the guideline levels. Make sur eon review you get the full allowances this time but regardless you will probably have to make some form of increase. Creditors agreed to the IVA at £70 per month but there was always the chance of improvement which has now happened.
Yes your payments should increase, but this should work both ways.
This year my Tax credits have been stopped and this means a reduction of income of £40 per month. This happened around 1 month after the annual review.
When I phoned Stepchange they said I should "make some cuts to spending" until the next review is due.
Seems unfair to me [:(!]
The hardest part is telling a stranger about your problems ...... it's also the most important!
