If the rise in income was a permanent payrise they only, usually, increase the IVA payment after the review. So you might be OK with this. Also, if the payday loans were small, they might be allowed (although definitely not encouraged).
garfield021 wrote:So is depend of creditors? How they will sort this out?
First it will depend on how your IP decides to handle it. He might give you a chance to put things right. If the IVA is terminated your creditors are then free to try to collect the debt any way they think fit. They will add back lost interest and possible charges so the debts will increase.
Who is onlineUsers browsing this forum: No registered users and 22 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location