My partner and myself have been in a iva for over 2 and a half years, they have just put the payments up from 109 to 562 per month which has left us struggling as I had to borrow money from family while my partner was in prison for 17 months since he came out he got a job and our income has gone up from 1400 per month to 2900 per month. this is crippling us and has since put me into deep depression and now under the doctor. what can I do as I am at a loss.
Are you both in an IVA ? If so an increase in income of £1500 per month would, after the allowances for an extra adult in the household have been taken intio account, produce a substantial increase in your IVA payment. Assuming those allowances have been calculated correctly you should not be struggling and your spending might need looking at.
First thing to do is to ask for a calculation of how they have come by their figures -- so you know what to challenge if they are wrong. If they are correct, you will need to examine your spending habits. It could be one or the other, or a combination of both.
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