www.iva.co.uk

Hi all, i have been in an IVA for 10 months, since starting my mortgage, car and house insurance has increased by approx £60 per month in total, i am wondering whether i should ask about a 15% reduction in payments or wait until my 12 monthly review, thanks

Hi and welcome.

Speak to your IP now if you are struggling and see if they can help you.

Can you afford the contractual payments until the review time Claire? If not, I would ask for a reassessment of your disposable income straight away.

Hi thanks for the replies, I have managed the increase up to now, the mortgage increase has been for the last couple of months, the other two increases have been for longer. I have been doing some overtime so managing to pay the extra at the moment. If i wait for the review, will this go against me? eg ive been managing to pay this extra for a few months so should keep up my current IVA payment? hope this makes sense

thanks

You should only pay what you can truly afford claire - so I think it is best that you draw this to your own IP so that they can advise you appropriately. There should be no need to struggle unduly - especially at this time of year.