Hi we have been in our IVA for five years now and are just about to start our final year plus a few extra payments that we agreed to make at the end.
We have sorted out the equity part and have it in writing that we will do the extra year.
Just had a chat with our supervisor who is doing our review and they just out of the blue asked us if we would like to adjust the amount of money we can earn every month?
Because our income is all over the place due to overtime etc we have had the same monthly threshold with regards to the amount we can earn before we full into the 50/50% bit.
I did say to them it seems really strange at this stage(5 years on)to ask us now.We have worked really hard to pay off as much as we can and have made overpayments of just over four thousand pounds, so ilike to think we have been doing our bit.
Should I ask them to allow us to earn a bit more monthly or just stick with it as we are getting closer?
Just like to add it feels like its really really dragging to be honest.
Will be glad to just finnish and be debt free. I would like to say that we have made some very important lessons when it comes to running the household budget!!!
Many thanks for reading our post.
If you can make things that bit easier for yourself in the IVA with the permission of your IP and without risking your IVA I would say go for it as a nice treat now and them albeit maybe a small one will make those last few months seem a tad easier.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi Lesley. Thank you for replying. Im going to have a chat with them in the morning to see what they have to offer.
I think we have had around 6 different supervisors over the term of our IVA, and im always a bit on edge when somebody new comes onto the scene. They always seem to want to change a few things!!!
Just want to get the review sorted and try and finnish it as quick as we can.
Many Thanks.
Hi!!
Had a very helpful chat with the person who actually did our review and basically said that if we wanted to be able to earn more before the 50/50% kicked in then the payments would have to go up.
Overall for our last year there has been a reduction of £20 per month. Looking at the bigger picture I feel we can live with that, and now we just need to get our heads down and finnish the year.
We do have some extra payments to make up because of a payment break but I think if I get and do as much overtime as poss we should be able to pay them as well.
Really looking to finnish in October 2016. I don't think there is any point trying to finnish earlier because next Oct would be 6 years and you cannot even get the IVA off your records until 6 years has passed so thats the aim!!!!
Thanks for all your replys and lets hope the next 12 months fly by!!!
Baldy[:)]
You are in the closing straight now ..if it were me I would do what I could to pay it back as quickly as possible but without leaving yourselfs so tight you really struggle each month. You have come so far for the sake of another 12 months don't over stretch yourselves x
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
