www.iva.co.uk

Hi all , i recently posted that i needed to move house as my tenancy agreement was up and couldn't be renewed. I managed to find somewhere after a lot of hassle but was wondering where i now stood as my rent has increased by £50pcm.I spoke to Clearstart in May and explained this and they were fine and explained when it all goes through just get in touch and they'll send out a revised I&E form and amend accordingly.Since then my IVA has been transferred into DFD and when i spoke to them on Friday about this they said i would need to use my contingency to fund this extra rent amount. I said to them that to be honest i pretty much use my contingency to just about live every month and there's no way i can absord another £50 in my allowance. This seemed to fall on deaf ears and was suggested that unless i do this i will default on my IVA.Can someone please advise as i'm now confused and pretty worried , i've been in my IVA for 20months and never had any issues before this.

That seems a little unreasonable, how much a month is your IVA? I'm sure one of the experts will be along to advise you. X

Your rent increase ought to be taken into account when calculating your disposable income. Can you continue to make the original IVA payments, or will you need to reduce them?

Viki , i currently pay £450 a month to the IVA which leaves me £400 a month to pay for food ,utilities,bills,travel etc.

Melanie , it would be a huge struggle to make my current payments as well as the new rent , i was looking for a reduction if possible , i did explain that my travel would be reducing by £20 a month so maybe i could meet halfway, but they said i would still be defaulting?

I'm not an expert NJ1973, but I'm sure DFD could reduce your payments by up to 15% without the need to contact creditors and if clearstart had already agreed this then I think you should take it further. Try emailing your IP direcly. X

You will need to check this out with your IP to see if they do have discretion to reduce the payments. If not this is still possible by calling a meeting of creditors to vote on alternative proposals.

£400 per month seems a frightening low amount to live on, are you that's right ?#13;#10;

They maybe able to reduce your payments by 15% without calling a further meeting - however this will depend on what is written in your chairmans report - DFD write this in to all their's not sure whether Clearstart did - even though they are one company now, it does not mean that the same conditions apply - your original set of conditions will still be applied.

Any luck NJ?

I hope you get sorted soon. XX