Paying for an IVA monthly when income is 4 weekly

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jean821

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Post by jean821 » Wed Feb 06, 2019 9:48 am
Is anyone out ther paying an iva while on a State Pension. How do you work thoings out? I am completely confused - my pension is paid every 4 weeks but in order to work out the allowances and iva payment it is divided into 12 months and therefore the iva payment and allowances are more than I physically get paid into my bank account each month. Can anyone help, please?

Foggy

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Post by Foggy » Wed Feb 06, 2019 11:00 am
Most IP's will be able to make allowance for the 4 weekly cycle with a little applied maths --- talk it over with them at the outset.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lisa Thomas

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Post by Lisa Thomas » Wed Feb 06, 2019 12:35 pm
Are you already in an IVA?

If not you don't have to make the payments monthly, you can complete a 4 weekly I&E and pay every 4 weeks instead.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Teiganh

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Post by Teiganh » Tue Feb 26, 2019 6:37 pm
Hi, mines also monthly and I’m paid weekly, confused me a bit at first as thought was loosing out lots but not to bad.
So whatever they have told you that you can earn a month let’s say 1500, you would x that by 12 and then divide into 52, I’m sure you have sorted this by now x

ashbock123

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Post by ashbock123 » Wed Feb 27, 2019 4:44 pm
I am paided weekly and found it hard to pay monthly. So spoke to my iva company that was creditfix and they divided my monthly payment so instead of paying £145 a month they now take £33.47 a week so they can help you if ask them.
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