Childcare 30 Free Hours

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
User avatar
GoonerDad
Posts: 14
by GoonerDad » Thu Jul 12, 2018 2:18 pm
Have an upcoming saving on childcare (£370 ish) a month. Do I have to inform Creditfix? If so will they put my payment up £370 from £100 to £470?

Wondering whether to try and get family to settle the IVA early before this change of circumstance.
User avatar
MerlinL14
Posts: 1513
by MerlinL14 » Thu Jul 12, 2018 2:44 pm
Technically yes, any increase in income or saving from depreciation of an outgoing bill should be paid to the IVA.
User avatar
Foggy
Forum Expert
Posts: 27463
Contact
by Foggy » Thu Jul 12, 2018 3:03 pm
As Merlin says, this "saving" will be added to your disposable income and, therefore, to your IVA payment. If you can get a F&F through, based on the current payment, it will work out a lot less expensive ... but .. there is always a "but" .... CF are currently at odds with creditors over their paperwork and variations such as this are currently on hold ... nobody knows for how long!

Another way of looking at this, if you do get to have to increase your IVA payment ....... you will be no better off, yes, but, you will be no worse off.
Francesca
Posts: 66
by Francesca » Wed Aug 15, 2018 5:58 pm
Hi GoonerDad. I am wondering how have you sorted 30h free hours situation with CF? If you could share, as soon I will be in a smiliar position. Thank you
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 26 guests