how do i show my ip that my expenses have now increased with now having to provide for my son. is this to my advantage ? can anyone give me any advice it would be appreciated very much.
thank for any response
Congratulations on the birth of your son, hope you don't have too many sleepless nights!
I am sure your IP will be aware that your expenses will have risen, babies are very expensive!
Was your IP aware of the birth before your annual review?
You need to put down exactly what you spend and see what the IP says about it.
he now four months and settled into a good routine. [:)]
my IP was not aware that i was expecting a baby as i only found out once it had been agreed by my creditors.
however, i was single and living alone at the time of my iva and now im living with my partner and im worried they are going to increase my payments significantly because of this. my girlfriend only works part time and is currently on the basic maternity pay. do i now have to declare this? i have had pressure to discontinue paying my iva when things have been needed for the baby but i want to do the responsible thing and have managed to pay in full so far.
its hard to know exactly what we have been spending on baby but i will do my best when i come to fill in my I&E,
hat you will now need to do is to produce a revised family based income and expenditure, detailing all income and benefits and all of your expenditure. Hopefully this will still show that you can afford to pay your IVA payments, but if not a variation can be suggested to creditors on the basis of your new family.
You do need to keep your IP informed of things, and I'm sure they and your creditors will do their best to help you out.
Let us know how you get on.
Your little boy sounds lovely, and just at that age now when he is noticing everything around him. Make the most of these times, they are precious.
he said he wanted proof that my council tax had increased (due to arrears built up before iva) also proof my motor insurance increased.(i had a claim). these i can provide. however i always pay my petrol by cash and dont have receipts so cant prove this amount. my bad!!
i really do not want to pay any more than i already am. i didnt earn as much as the year before and now i have the responsibilty of a son so how can my payments possibly increase??? it doesnt make sense to me.
my IP was so nice and helpful when we first done the iva but now the tone is so different and i feel like cancelling my direct debit. im stressed right out now and wish i hadnt rang them....
funny how nice my i.v.a advisor was during the proposal, always there and supportive but now the tone has changed.
Just caught up with this sorry [:I]
Did your IP say why your payments would go up? Surely if you have increased expenditure they should decrease???
Bankruptcy is not as scary as you think, but if you and your IP can work together then there's no reason for your IVA to fail.
Which company are you using?
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