www.iva.co.uk

Hello all,
I am now 4 months off two years in my IVA.I have to admit to be still coming to terms with the arrangement.Sine the start of the IVA I have been in catch up with other bills - council tax,electricity,car HP and only recently in a couple of cases had to make payments to them which has forced me to not make a payment to the IVA.Also in this period I have been off work on half pay due to an illness I had which came to a head and I was unable to work for 3 months.So all in all not a happy situation.
I was considering going bankrupt as I have no assets but I have been bankrupted before due to a bad divorce and am a little hestitant to go down that route again.
I am with Payplan and even though they have been fine I still find that the agreement i have with them is not flexiable enough to allow for any of lifes mishaps and I foolishly just soldiered on with clearing Council tax arrears,HP arrears etc at an higher rate than I told them.Of course now what with having a family i am finding that my IVA is going on well after the 60 month period.Has anybody out there got any advice for me.. as I am finding it hard to budget every month and I dont know how to really get that side of things straight.

thank you

Hi Paul

I really think that you ought to have a chat with your IP to see if they would be prepared to reduce the payments to a more comfortable level. This might mean that they have to call a variation meeting, but you have nothing to lose really if you are seriously considering bankruptcy.

We all know that the cost of living has increased significantly over the last year or so, so your request ought to met with an element of sympathy.

Let us know how you get on.