i just want to feed my kids!

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rick.23

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Post by rick.23 » Wed Jun 16, 2010 11:13 pm
hi i have been in an iva now for nearly a year and im so confused about what to do, im very unhappy with the company im with.My earnings have remained the same(my wifes benefits include now but it just doesnt add up) but my outgoings have gone up alot(ive gone from sleeping on my mums sofa to living in a private rented house with my wife and two kids and they have still managed to up my monthly payments and are trying to do so again they take there payment early every month i never no when its coming out anymore.We are living on a minus figure every month and have fallen behind with all the house hold bills i cant keep this up much longer is there anything anyone can suggest to help us i just want to feed my kids!
 
 

MelanieGiles

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Post by MelanieGiles » Wed Jun 16, 2010 11:16 pm
Hi Rick and welcome to the forum

You need to clearly show your IP what your income and expenditure is - and if this means that payments need to be reduced so be it. Ultimately it is likely to be your creditors choice whether to vary the terms of the arrangement to accomodate lower payments, but surely this better than continuing to live on the breadline or declaring yourself bankrupt.

Which firm are you with?
Regards, Melanie Giles, Insolvency Practitioner
 
 

wannabedj

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Post by wannabedj » Thu Jun 17, 2010 8:52 am
Should they be allowed to take money out of the bank early? I was always under the assumption that D/D can only be taken out on the day stated on the form you signed (unless it falls on a weekend/BH and then next working day)??
If Football was meant to have been played in the air then God would have put Grass in the Sky
 
 

flow13

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Post by flow13 » Thu Jun 17, 2010 9:43 am
Mm! We are with DFD and our payments are not done by Direct Debit, but by Standing Order, which is set by ourselves and the bank and we agreed with DFD what day the money would come out.
Its now time to start living and to make some some wonderful memories!
Read my blog at http://flow13.blogs.iva.co.uk/ 'Aiming for the finish line'
 
 

artemischild

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Post by artemischild » Thu Jun 17, 2010 9:54 am
Same here flo!

DD can sometimes be taken out a day or two before hand, apparently its somewhere in that tiniest of small prints!!! I had a couple of issues with this a few years ago, i hade everything set to leave my account on the 28th when i get paid each month, following this i moved everything to the 1st of each month, that way if they went for it early it would still be after i got paid.

I hope you get the situation resolved quickly as possible rick and things start to settle soon.

Drew
Last edited by artemischild on Thu Jun 17, 2010 9:55 am, edited 1 time in total.
IVA completion and certificate received 08/10/2012!!!
 
 

flow13

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Post by flow13 » Thu Jun 17, 2010 10:11 am
We have done this with our Direct Debits as we found that sometimes they can be taken out earlier.
Its now time to start living and to make some some wonderful memories!
Read my blog at http://flow13.blogs.iva.co.uk/ 'Aiming for the finish line'
 
 

kallis3

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Post by kallis3 » Thu Jun 17, 2010 10:12 am
Mine have never been taken out early, and if it's the weekend then it goes out on a Monday.

My IVA payments are standing orders, which I control.

Which IP company are you with Rick?
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
 
 

flow13

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Post by flow13 » Thu Jun 17, 2010 11:28 am
We were with Cornhill for our car insurance and they used to say they could only give us a rough estimate of when our DD left the bank. They gave us a period of 5 days, but it usually stretched to about 7.
Anyways, we aren't with them anymore and DD's for the AA come out on time. x
Its now time to start living and to make some some wonderful memories!
Read my blog at http://flow13.blogs.iva.co.uk/ 'Aiming for the finish line'
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