what should i offer?

[beau]

firstly ty for the replys on my first question.
my second question is,
currently we are 14mths into a iva.
our orginal debt was costing us 402pound a mth,after contacting an iva company we were fed all the spiel that payments would be reduced and be debt free in 5 yrs.after giving them all the information and the iva was passed,the payments were 471 a month.this was based on a 54000 debt.after the 12 monthly review the payments have now increased to 559 a month,as this is considered our disposable income.with having 3 children to provide for and home to maintain this has put a massive strain on us i am concerened for my husband and my health as we are both not sleeping and the worry is now affecting my husbands job and he has been spoken to by his boss over his performance at work.what options do we have of getting out of this iva before we both have a nervous breakdown. ty beau

[MelanieGiles]

Why has your IP increased your payments so much? This must result from payrises received. Have you discussed your concerns about the increase with the insolvency practitioner directly, as the increase does seem very harsh?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[beau]

hi ty for reply have to wait till hubby gets in to answer your question.
but could you estimate that if i asked for settlement figure what we would be looking at pls
our origanal debt was 54000
we are paying back 33000
at 45 or 46p in the pound
we have paid off up till now 7000 over 14 mths
nominees fees 2,500
supervisors fees (estimated)5,700
disburments(estimated)400
irrecoverble vat (estimated)1,435
total cost of arrangement 10,o35
equity from property(estimated)1,553
thankyou very much for youre help beau.

[MelanieGiles]

My answer will depend upon knowing what you feel your current disposable income actually is - so hopefully you can post that later on.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[beau]

hi
do you mean what we bring home a month

[beau]

hi again is the question how much we are paying them a month if it is we pay them at the moment 559 a mth ty beau

[Adam Davies]

Hi
The question was how much do you actually feel that you have "spare" each month to pay into an IVA.You state that the current £559 is too high.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[aguise]

Hi Beau
I think Melanie means what you have left after paying all your living costs.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[aguise]

[:D] Andy you beat me by a second

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[Adam Davies]

Lol
I took so long answering a post yesterday that THREE people had posted a reply by the time I had checked mine and sent it !!
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp