www.iva.co.uk

I've just asked to reduce my payments by £90 and for permission for my husband to get an additional job earning about £200 extra a month, due to our mortgage going up by £200, the on going rise of petrol, food, gas etc and the fact that due to my daughter being seriously ill and that we have had to spend a lot of time travelling to a hospital outside our area for treatment. Our childcare has also gone up even though my daughter has not gone much we still have to pay for her place. When we did our outgoing in September 2007 we were in budget and could manage everything but due to these increases we are about £400 down a month so now live on £30 week shopping and have used all or savings (ie money for tax, emergencies etc)

We have asked for the reduced payments only till October 2008 and we will then be in a position to increase our payments

The thing that I am worried about if they say no to the reduce payments will they then fail the IVA or will things continue as they are.

With my daughters illness its has been a very worring time and now I am worried we will fail the IVA.

I am sure that they will work to accomodate your request, and if not ask them what they think you should do.

Your IVA will only fail if you miss a number of payments. Hopefully the IP will understand and negotiate lower payments to help you get through.