www.iva.co.uk

I am in an iva. My mortgage payments were due to go up this month by £200 and my iva contribution was to reduce to accomodate this. Because of the fall in interest rates my mortgage has not gone up but it has reduced by about £20 per month. Do I pay the reduced contribution as that is what it says or do I still try and maintain the high contribution? My IP already gets an extra couple of hundred a month due to my overtime? I just want to know before I ring them and complete and new I&E

If your mortgage payments have come down, then I think you will have to keep on making the higher contributions. The overtime is just an extra which means you will end up being able to pay back more.

Give your IP a ring on Monday just to clarify the matter.

Thanks Kallis. I will get on to it. I want to pay back as much as I can over the term of the iva..afterall I did borrow it! thanks again

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Hi mr basic,
you have a great outlook on your debt and iva[:)]all the best with paying it off
kindly
Matt

I agree Matt,fantastic to hear from someone who wants to pay back as much as they can,rather than from the many on who want to avoid debts!!