New income and expenditure

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Chappie

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Post by Chappie » Thu Jun 17, 2010 2:39 pm
Hi All.

Just wanted to ask the following, was made redundant in December, got a new job last month, after dfd ageed to a payment break, did a new I & E sheet, was paying £472.00 before, but can only offer £290.00, my original proposal was for £380.00, but had some modifications added. my wages are a lot less than before and my fuels costs have trebled having to travel 100 miles per day round trip, does anyone know if this would be acceptable, i dont want my iva to fail as im into my 3rd year.

Thanks

Chappie
 
 

Declan at DebtFreeDirect

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Post by Declan at DebtFreeDirect » Thu Jun 17, 2010 2:42 pm
Hi Chappie
Firstly congratulations on the new job. With regards your current contributions and given the reduction in income we will look at drawing up a new I & E based on your circumstances and decide on the next steps. If you would like to get this looked at asap, drop me an email (my address can be found in the experts section) and I will get it actioned.

Thanks
Declan Murray
Debt Advisor
Debt Free Direct - the UK's largest IVA provider.
http://www.debtfreedirect.co.uk/iva/
 
 

Chappie

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Post by Chappie » Thu Jun 17, 2010 2:45 pm
Thanks Declan,

Have already spoken to customer care department, my income and expenditure details are with an I.P, just wondered with having such a big drop in income, what the viability of it was, and would my creditors accept this amount.
 
 

Michael Peoples

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Post by Michael Peoples » Thu Jun 17, 2010 2:49 pm
I am sure you will be fine Chappie. Ultimately, you have shown the intention to repay and while creditors may not get as high a dividend as originally proposed, this was through no fault of your own.

I am sure DFD will be able to sort this out and creditors would be insane to reject the new offer. Best of luck.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Chappie

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Location: United Kingdom

Post by Chappie » Thu Jun 17, 2010 2:51 pm
Thanks M.P, I hope you are right, just a bit of a worry at the mo, just settling into my new job, so dont want my iva to fail.

thanks feel bit better now.
 
 

Declan at DebtFreeDirect

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Post by Declan at DebtFreeDirect » Thu Jun 17, 2010 2:57 pm
Michael is absolutely correct, given the recession and everything that bought with, it is o surprise that many people are finding themselves in a similar situation as you chappie. As Michael as said, he have shown intention and are doing what you can to ensure the IVA continues.

Thanks
Declan Murray
Debt Advisor
Debt Free Direct - the UK's largest IVA provider.
http://www.debtfreedirect.co.uk/iva/
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