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Posted: Thu Jul 19, 2012 6:23 pm
by Dan.ln
i am already in an iva
paying 990 per month
but my job is in a bad downturn & am concerned i casnnot meet the payments
Posted: Thu Jul 19, 2012 7:00 pm
by terry d
have you spoken about this with your IP where you have your iva,£990 per month thats one of the highest ive heard off
Posted: Thu Jul 19, 2012 7:35 pm
by Lisa2009
Hi and welcome. You do need to discuss this with your IP. You would be required to fill out an updated income and expenditure form then your payments could be reviewed. It's possible you could have them reduced.
Posted: Thu Jul 19, 2012 8:32 pm
by Broke of London
Hi,
An iva is supposed to be an affordable repayment plan so do have a chat with your IP as if your income changes your payments will need to adapt accordingly.
Best wishes x
Posted: Thu Jul 19, 2012 8:34 pm
by harrimav
seems really really high montly amount, did you pay back a high dividend? I really hope that you can get this sorted out and stop worrying.
Posted: Thu Jul 19, 2012 8:57 pm
by Niobe
I agree that Dan should sort out a new I&E, especially if his job is in danger.
Terryd - there are higher IVA's than that!
Posted: Thu Jul 19, 2012 9:12 pm
by footiemad
Much higher - it's all about affordability. You pay over your disposable income and everyone's is different x
Posted: Fri Jul 20, 2012 7:25 am
by terry d
you would think that if your paying nearly £1000 into an iva every month you would be able to afford to pay the debts unless your debts were getting on for like £100,000
Posted: Fri Jul 20, 2012 7:40 am
by Niobe
It also depends on your outgoings as well. Some of us have high mortgages and/or secured loans to pay. As previously stated, it is all down to affordability.
My own unsecured debts are in excess of 80k