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Posted: Wed Jun 18, 2008 12:10 am
by sarah m
Im currently 18 months into an IVA of £200 per month. With all the increases recently in food, fuel and petrol my monthly outgoings have increased by £100. Is there any way of lowering my monthly IVA payments, before I get into trouble again?
Posted: Wed Jun 18, 2008 12:18 am
by Viki.W
Hey Sarah, welcome to the forum. Please wait for an expert answer as I don't think your payments could be lowered to under £200. Viki X
Posted: Wed Jun 18, 2008 7:13 am
by aguise
Hi sarah.
Speak to your company if you are struggling and they will tell you what options are avaliable to you. I well understand, the rises in everything are starting to affect us, we cant keep up with petrol and food is rising quickly.
Hope you can sort something out.
Ang
Posted: Wed Jun 18, 2008 9:16 am
by charlotten
Hi
I hope you are not with Debt Free Direct!
We are in the process of failing our IVA because we had an IVA at £478 a month and that was based on a two year old expenditure form.
In the last two years our Council Tax tripled, our energy bills doubled and my bus tickets doubled plus our food bill doubled.
We were told that the government only allows you £240 for food. Can you believe that!!!! A loaf of bread is not over £1.
When we told DFD about the bills in our life rising we were told 'not our problem. You completed the expenditure form and that's it'.
I am sure some companies are a lot more flexible though.
Ask your IVA provider for an expenditure form and keep copies of your bills and then you can send them in with the form as proof.
You would think that with Britain now horrendously expensive my IVA provider would have been understanding but they weren't.
Hopefully your's will be great.
Take care
Posted: Wed Jun 18, 2008 11:11 am
by sarah m
charlotten wrote:
Hi
I hope you are not with Debt Free Direct!
We are in the process of failing our IVA because we had an IVA at £478 a month and that was based on a two year old expenditure form.
In the last two years our Council Tax tripled, our energy bills doubled and my bus tickets doubled plus our food bill doubled.
We were told that the government only allows you £240 for food. Can you believe that!!!! A loaf of bread is not over £1.
When we told DFD about the bills in our life rising we were told 'not our problem. You completed the expenditure form and that's it'.
I am sure some companies are a lot more flexible though.
Ask your IVA provider for an expenditure form and keep copies of your bills and then you can send them in with the form as proof.
You would think that with Britain now horrendously expensive my IVA provider would have been understanding but they weren't.
Hopefully your's will be great.
Take care
Posted: Wed Jun 18, 2008 8:09 pm
by MelanieGiles
£100 per month would make an IVA not viable for your creditors. I suggest that you look to bankruptcy proceedings as the most appropriate alternative.