You seem to have paid quite a bit so far and if you genuinely have little left at the end of the month I would suggest a settlement based on what has been paid to date. You can also pursue the PPI claims which would enhance the dividend and agree for the IVA to remain open until this has been resolved.
That seems like a fair offer and could be acceptable to creditors.
Hi Michael, perhaps I am being a little dumb, do you mean that what we have paid in already, that the creditors would accept this, and any PPI they may be able to recoup? Or do you mean what we have paid in already, as well asking relatives for 6K?
I think Michael means what you have paid so far being accepted as a full and final. PPI would then also be paid across which would increase the dividend but you wouldn't have any more IVA payments to make.
Also just to clarify in the new I&E instead of allowing £350 for food & household goods as previously, we have now put in £280. We have got rid of the cable package, and just paying minimum internet and telephone. No dentist, eyecare or haircuts. No clothing. And mortgage just interest only, whereas before there was an allowance for £70 to be paid off the mortgage each month. Due you think these cuts are now too austere. Means we have to live very cheaply. My case manager has allowed £60 a month on top of this for any contingencies. But if I based our income on original figures there would be nothing left to the IVA, and quite honestly I would rather live on aldi beans for the remainder of the IVA than go bankrupt
oh right, many thanks harpic, I didn't know you could do this. If that is the case, then why is this not being done, instead of cutting down all our essential living costs and making it very difficult if not impossible to live each month?
This seems too tight so I think realistically you cannot fund any more payments. Ask your IP to attempt to close the IVA down on this basis. Getting £6k from relatives would only be more debt you cannot afford to repay.
Wouldn't that be great haha. Many thanks for all your advice and will keep you updated. I think my case worker and Supervisor are very fair, and will do all they can to help me. At least I don't feel so alone. This website has been invaluable for me. I may not go on it for months at a time, but have always had the support when I needed it.
