Hi please can you help; We are going through a rough time, looking at separating.

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ppiquestion

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Post by ppiquestion » Wed Jun 13, 2012 9:01 am
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Hi please can you help; we have been in an IVA since Oct 2010 and paid £386 a mnonth on £60k debt. At present my husband and I are going through a rough time and are looking at seperating. How would this effect our IVA's? What is the minimum that you could pay in the £ on an IVA as I believe that this is what we would have to do to be able to survive seperately. How would it affect our property which is mortgaged but in negative equity at present?
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Kelly O

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Post by Kelly O » Wed Jun 13, 2012 9:33 am
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Hello and welcome to the forum

If you have 2 seperate IVA's you may both need to look at new income and expenditure based on your new circumstances - it may be that your IVA's need to be varied to change the amount you pay every month.

If you have an Interlocking IVA your IP might need to seperate them into 2 seperate IVA's.

As your property is in negative equity it is unlikley to be affected but it would still probably be valued in year 4 to see if there is any equity.

Have a chat to your IP as they will be able to advice you
Regards Kelly Osadare Debt Advice Manager at www.pjgrecovery.com (host to www.melaniegiles.com.)

PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
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ppiquestion

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Post by ppiquestion » Wed Jun 13, 2012 9:50 am
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Hi Kelly thank you for the response it is actually Melanie Giles that we are with (Susan Clay is our IP); is it possible to reduce the IVA payments by the 15% whilst we look at what we can afford to do etc?

I just don't want the IVA to fail and lose the house altogether but obviously need to provide a house for our three year old son.
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Kelly O

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Post by Kelly O » Wed Jun 13, 2012 9:57 am
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If you can call a member of the supervisor team they can discuss all your options with you. :-)

It is nobodys interest for the IVA for fail and we will do everything we can to help you.
Regards Kelly Osadare Debt Advice Manager at www.pjgrecovery.com (host to www.melaniegiles.com.)

PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
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MelanieGiles

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Post by MelanieGiles » Wed Jun 13, 2012 10:17 am
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I am so sorry to hear of your current difficulties, and so will Sue. Can I suggest that you send her an e-mail in the first instance outlining your situation, and she will discuss the case with the member of staff who has responsibility for your file. Sorry I cannot help more on the forum, but I cannot identify you from your forum name. If you wish to send me an e-mail use the address on my profile page, and I will make sure it is directed to the appropriate person.

Please don't worry as there is bound to be a solution to all of this.
Regards, Melanie Giles, Insolvency Practitioner
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