Posted: Sun Jul 01, 2007 6:06 am
Hi there, I'm thinking of entering into an IVA, I'm at the lowest limit in regards to offering monthly contributions, I think it worked out at 26p in the £. What happens if for example I underestimated by monthly outgoings eg gas or electric? what happens if my car tax or insurance premiums increase? if I went for an amendment this would probably take me under the 25p in the £ threshold wouldn't it? And how likely are creditors to accept a lower monthly amount? Also I am due a payrise that would equate to around £40 per month, would I be expected to pay all of this into the IVA or could I keep some of it? Many thanks