upping my payments

[barry.l]

I am currently in a 5 year IVA. Currently paying £360 per month. However, I agreed to pay the debitors 38 pence in the pound. At the momment only paying 6 pence in the pound. I need up my payments. However, I have missed 3 payments totalling £1080 of which I now have £690 left to pay. Do I pay the £690 soonest or prioritise upping my payments as my IVA company have advised me I need to make the £690 good within the next 12 months. Upping my payments would mean that I would have no surplus income to make the £690 good

[emma_t]

Hi Barry

I would take advice direct from your IP as they will know the history of your iva and payments.

I am under the impression if you miss more than 3 payments you could be in breech of your iva terms and it could fail - so be careful on this,

hope you get things sorted and I am sure more advice will follow from experts[:D]
Emma x

[Lisa2009]

Sorry i dont understand how you are only paying 6p in the £ ??????

[MelanieGiles]

Barry - you need to discuss this with your IP, but the best way forward would be to pay as much as you can until the arrears are cleared.

[barry.l]

Thank you all for your advice, I will speak to the IVA company about paying off the outstanding amount[:D]