www.iva.co.uk

hi we have been in a iva for 12 months paying £243 a month the thing is we just cant afford this any more there are 5 of us living here and the weekly income is £357 plus my child benefit every month, my car is dying and cant afford to fix it, had new school clothes to by so had to just get basics of food for the week, i dont understand why it looks like we have so much more money on paper, what can i do as they want to up my payments, its either not pay this or my husband will have to move out as this is in his name and his debts, we thought we would be better off as we were told that we would have some of our debt written off but we only owed 15,000 in the first place, just cant take any more of this, kids are so bored as have no money to take them anywhere, please could anyone tell me what is best to do

Hi gary.w, I'm sorry to hear that you are struggling like this. Have you spoken to you IP and explained how much you are struggling? You say that you have been asked to pay more - is this because your income has increased? To be honest, I don't understand why you were advised to go for an IVA on debts of £15000 - was a debt management plan discussed with you? Have you considered bankruptcy - that could put an end to this for you. Sorry for all the questions, but hopefully one of the experts will be able to advise you soon.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

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Hi there

I too am with Skippy on this one - not too sure why you are in an IVA either!

The best thing at this point is for you to contact your IP and discuss this with them. You may have to submit another I & E showing why you are not coping, they may reduce your payments etc etc

Hope this helps

Sue

Ho Hum! Think I'll bang my drum!

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Hi Gary

Like skip and sue I dont understand either. Who are you with and were you given other alternative optioms? Do you own your home or are you renting.

What is the reason they want to up your payments?

There may be another way, if the debts are only in his name he may be able to declare BR if there is no BI in the house.

Please post more details so that forum members can better advise.

lily

Hi Gary

I do think a variation proposal to your IVA is the best solution. as for the car you might worth trying a payment holiday so as to assist you.

Suggest you prepare a further income and expenditure budgert and then talk to your supervisor.

If you do this now you will have a chance to keep things going!

Good Luck

Ray