I have taken out an iva with debt free direct. they have asked me to pay £219 a month. I have asked them twice now to reaccess me. My husbands wages have been reduced by just over £100 a month, and my winter heating bills have been nearly double what I was allotted as a monthly amount. I'm afraid I have two questions for you. The first is, how can I get them to review my outgoings? The second one is I have not been able to make the repayments they are asking for, what will happen to me for not being able to make the payments?
Thank you in anticipation of any help you can give me.
If your circumstances have changed, then your IP can reduce the payments upto 15% without consulting creditors. If the paymnets need to be reduced by more than 15%, your IP can call a creditors meeting. There's no guarantee the reduced payments will be accepted, but it wouldn't be in anyones interest for the IVA to fail.
As Pandy has said, Declan from DFD posts on here and should pick this up on Monday.
If you are struggling with your monthly contributions and as you mentioned your circumstances have changed, then we will be able to review your case as soon as possible. If you email me your case details (my contact details are found under the experts section) I will be more then happy to help get this resolved for you.