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I have just completed my first year in an IVA and made all the payments however I agreed an increased amount and also an extended term to 66 months I have managed this by using my bonus payments and have been unable to hold 50% back.
I advised my Ip on my annual revue which the figures supported but cannot see maintaining this without utilizing my bonus which I advised them of a month ago awaiting a reply
What would be your advise

Hi m b

and welcome to the forum. At this point I think the nest advise is to wait patiently to see what your supervisor says after reviewing the case.

Once you see what their thoughts are you are in a better negotiating position .

Hopefully you will get a reply soon and we will be able to help with your response.

Hi
You should have filled out a fresh income and expenditure form,this shoud show that there is a shortfall in your disposible income compared to the initial proposal.You can then use this shortfall as a basis for you having to use all the bonus monies
Regards

If you are struggling with the level of payments required under the IVA, then your Supervisor may be able to reduce these by up to 15% at his/her own discretion rather than calling a creditors meeting.