will it a be a complete revaluation of my iva?

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titus

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Joined: Fri Aug 17, 2007 11:59 pm
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Post by titus » Mon Aug 20, 2007 10:37 am
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Im into the third year of my iva now and everthing was going fine, my problem is my partnerand i are now in the process of splitting up and as she had an affair things are not to amicable im now having to rent the top floor of my grandparents house and obviously my expenditure is going to change damaticaly now that im on my own and its just my wages.

The debt was just mine and its my iva although her wages was put together with mine my question is how will my ip deal with this i can still pay what im paying now just! even tho it leaves no room for mistakes will it a be a complete revaluation of my iva?
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MelanieGiles

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Post by MelanieGiles » Mon Aug 20, 2007 11:12 am
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Hi titus and welcome to the forum

You will need to completely review your finances to see whether the IVA payments remain affordable. If not, then I suggest you discuss this with your IP to see if he feels that a variation of the original terms is a viable option, or whether bankruptcy proceedings are now more appropriate for you.

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
Regards, Melanie Giles, Insolvency Practitioner
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