What would be your advise

[m_b]

I have just completed my first year in an IVA and made all the payments however I agreed an increased amount and also an extended term to 66 months I have managed this by using my bonus payments and have been unable to hold 50% back.
I advised my Ip on my annual revue which the figures supported but cannot see maintaining this without utilizing my bonus which I advised them of a month ago awaiting a reply
What would be your advise

[Reviva UK]

Hi m b

and welcome to the forum. At this point I think the nest advise is to wait patiently to see what your supervisor says after reviewing the case.

Once you see what their thoughts are you are in a better negotiating position .

Hopefully you will get a reply soon and we will be able to help with your response.

[Adam Davies]

Hi
You should have filled out a fresh income and expenditure form,this shoud show that there is a shortfall in your disposible income compared to the initial proposal.You can then use this shortfall as a basis for you having to use all the bonus monies
Regards

[MelanieGiles]

If you are struggling with the level of payments required under the IVA, then your Supervisor may be able to reduce these by up to 15% at his/her own discretion rather than calling a creditors meeting.