Change of circumstances

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Post by dan844 » Tue May 04, 2021 5:02 am
Me and my partner and 2 kids have been in a iva for 4 years we started monthly payments off £184 and has risen to £310 sadly it looks like we are going to separate either for good or for a period of time I have been looking at rented accommodation for myself and just looking how this will effect the Ivf my rent will be another 500 - 800 per month on what we are paying now don't what to change anything still keep it at a joint Iva but looking to see if we could reduce the payments thanks


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Post by Foggy » Tue May 04, 2021 6:50 am
My ex left me a single parent half way through our IVA. The first thing we did was agree a payment break while the dust settled, and then an I&E once we were both in our 'new' homes. In our case it turned out that we could no longer afford any IVA payments (previously £460 a month) and we put forward a variation to close early on payments made to date, which the creditors accepted. I am sure that, if we had anything left over with which to pay the IVA, reduced payments would have been given consideration too.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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