Annual review increase

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ashlea

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Post by ashlea » Mon Nov 26, 2018 11:57 am
I have just had my annual review and my payments have gone up by £60. I don’t feel like I can afford this I’m only just getting back on my feet after getting into debt and this will set me back again. Is there anything I can do?

kallis3

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Post by kallis3 » Mon Nov 26, 2018 12:10 pm
If you are not happy then challenge it and ask where they are getting the extra figures come from.
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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Foggy

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Post by Foggy » Mon Nov 26, 2018 12:11 pm
Get them to explain their calculations.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
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Lisa Thomas

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Post by Lisa Thomas » Mon Nov 26, 2018 3:45 pm
Do you agree with their calculations? Did you fill in the I&E information correctly or was something missed or wrongly reported to your IP?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

luluj

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Post by luluj » Tue Nov 27, 2018 6:10 am
As others have all said it is based on affordability- has your income and expenditure changed over the last 12 months? Have you received a pay rise ? Received additional regular income? Has your expenditure increased ? Travel costs risen too and from work ?
Has your partners income increased and therefore your %share of the household bills reduced ?

If they are suggesting a £60 increase in your payments then there must have been a change in income and possibly a reduction in expenditure.

I would certainly ask them to provide a written explanation of how they have arisen at this amount and would challenge it - ensure you write down every expenditure line each month and also your income is recorded correctly.

Hopefully it will be an error and can be rectified for you so your iva remains affordable - let us know how you get on
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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