Told that all my pension contributions had to go to IVA ? I was not given any alternatives ?

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Peterdj49

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Post by Peterdj49 » Wed Oct 12, 2016 9:48 am
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I was advised by my IVA that all my pension contributions which were being deducted directly from my earnings had to cease and all tne monies went towards the IVA?
The IVA term lasted six years and all my pension contributions went towards paying off the IVA.
I could not afford any other pension payments to compensate this?
I was not given any other alternative??
Thanks.
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kallis3

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Post by kallis3 » Wed Oct 12, 2016 10:00 am
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Hi and welcome,

What usually happens is that there is a ceiling for pension deductions and you may have to drop down for that. I was allowed to keep on with mine.

Which company were you with?
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
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Michael Peoples

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Post by Michael Peoples » Wed Oct 12, 2016 10:08 am
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Was this told to you before the IVA was drafted by the IP or was it a demand of your creditors at the meeting?
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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