i am currently in the process of setting up an iva

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
 
 

muttsnuts35

User avatar
Posts: 8
Joined: Fri Sep 17, 2010 6:19 pm
Location:

Post by muttsnuts35 » Sat Sep 18, 2010 12:31 am
i am currently in the process of setting up an iva and agreed a figure of £200 per month the iva has now been filed with the court and the practioner is now telling me that i have to pay £220 per month and increases again as the arrangement goes on is this normal as i was originally told i would pay £200 a month for 5 years i thought i decided what i could afford not the iva company
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Sat Sep 18, 2010 1:05 am
Hi there and welcome to the forum

Why are they telling you that the payments have to increase? Has the creditors meeting taken place, and are these creditor modifications?
Regards, Melanie Giles, Insolvency Practitioner
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Sat Sep 18, 2010 6:48 am
Hi and welcome to the forum. If the creditors meeting hasn't taken place yet, why not get a 2nd or even 3rd opinion?

There is a lot to take in with an IVA I do agree but it's mainly about disposable income being made available to your creditors xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:

Post by Adam Davies » Sat Sep 18, 2010 12:32 pm
Hi
Sounds like your proposal is stating that you have 220 pounds disposable income each month. Have you seen the proposal and the breakdown of your income and expenditure ?
Regards
Andam Davies
 
 

kallis3

User avatar
Forum Expert
Posts: 76947
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Sat Sep 18, 2010 1:18 pm
It is down to your creditors to decide what you pay once they have looked at your income and expenditure.

I do agree with Lesley though that if you are not happy, speak to some more companies.
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.
Bob Marley.
http://kallis3.blogs.iva.co.uk
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”