Page 1 of 1
Posted: Fri Aug 08, 2008 12:09 am
by lee.g
If the intrest rate's went throught the roof during an IVA, what would happen?
Posted: Fri Aug 08, 2008 12:10 am
by MelanieGiles
Hi lee and welcome to the forum
Do you mean if they went up on a mortgage and/or secured loan which you might have?
Posted: Mon Aug 11, 2008 9:00 am
by lee.g
Yes Melanie.
Thanks for answering.
Posted: Mon Aug 11, 2008 9:33 am
by MelanieGiles
Then you would have to prepare a revised income and expenditure account showing the higher figures and send this to your IP. It may be necessary to get your IVA payments lowered to accomodate the increased costs.
Posted: Mon Aug 11, 2008 11:30 am
by lee.g
Thank you for your very quick response.
You have been most helpful.
Lee