Hi, suggestions please, ive been in my IVA for 2 years in March , in April of this year i lost my father and im paying the same amount as i did prior to my fathers passing, even though my rent and bills have doubled...it was reviewed but the company said oh as you cannot pay more it will stay the same, (can an iva payment be reduced?) im really struggling each month and have a baby on the way now with an unsupportive father to be. can anybody help me to budget anymore, or come up with any suggestions, im lucky if im left with a fiver in the last week before i get paid again..
heres hoping thanks[;)]
Sorry to hear about the problems you have been having. Your IVA payments can be lowered, your IP can lower them by up to 15% and anything over that has to go back to the creditors.
If you really cannot manage, and of course when you have the baby you will be away from work for a while, you could always consider bankruptcy.
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
It is obviously very tough for you at the moment & you cannot carry on with your IVA at it's present level, you need to do a new I&E that is manageable & submit it to your IP along with the reasons for the change, if a variation is required then so be it! you can only pay what you can pay & if that is not sufficient then other avenues such as BR need to be explored. good luck
Hi thanks for your replys , i really really really want to avoid BR as ive been paying for 20 months and it feels such a waste of time going down the IVA route if thats my only resort, lets hope in that case that the IP can help me out as im sure there preference is to help not hinder, thanks for the info Kallis
Fingers crossed that you can get something sorted vickster. Keep us informed as to ho thngs are going.
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
You need more than help with budgeting Vickster, you need that IVA to be varied to accomodate your current (and future - after the baby has arrived) affordability. Your IP does sound quite unsympathetic - so dig your ground and insist that they review your case immediately.
