wish i never heard of credit!!!

[worryhead]

Hi, started my IVA on 25th March 08, made 3 payments now and due to everything in my life changing, i am now struggling to meet payments and worried if i tell my IP my IVA will fail [:(] basically i was in a job and made redundant but luckily was given another job in the company, i had to move out of one friends house where i was paying £250 to another friends who i now pay £350. I now drive around to clients homes in my new job and had to change my insurance to business use and this has bumped my payments up from £37 per month to a whopping £58 [:(] after all my expenditure now i have £129 left per month for my IVA but they want £210 so i need to find an extra £81 per month from somewhere to cover it. Really dont know how to handle this as i know they will not except such a huge drop, but i really dont want this to fail. Does anyone have any advice??? just feel its one thing after another, just feel like screaming and hiding in bed forever right now [xx(]

[facingittogether]

hi worryhead and welcome!

so sorry that you are struggling! i am not a expert but i do believe sometimes your iva payments can be reduced by 15% with the agreement of your ip, it all depends what was agreed when your iva was approved!

hang on there a expert will be along to advise you!

barb x

[Skippy]

I'm sorry I can't really give you any advice, but have you spoken to your IP? They may be able to reduce your IVA payments by 15% under the new protocol.

[emma_t]

Hi worryhead

I agree with Skippy and think this is the case as circumstances do change as they have with you, have a chat with your IP and see what they suggest.

I hope you manage to find a solution
Emma x

[worryhead]

Thanks everyone, i have not spoken to my IP yet, just worrying what will happen and was hoping to get a rough idea before i call him. fingers crossed i hear some good news finally, everything feels doomed right now

[plasticdaft]

Good luck worryhead,always a solution to any problem.

[Viki.W]

Hey worryhead, please don't worry, your IP doesn't want your IVA to fail. As Barb and Skippy have said, your IP can reduce your payments within 15% without the need to contact creditors for a variation meeting. You have good enough reason and I'm sure you can both reach an agreement. Good luck, Viki X

[Moneystinks]

Hi Worryhead I'm sure there will be a way forward for you.

Please try not to worry too much and speak to your IP as soon as you can to definately put your mind at rest. XX