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Post by bandit » Mon Sep 13, 2010 7:52 pm
hey all,i have been in an iva for nearly a year now and am coming up to my first income has decreased a little and my gas/elect has gone up.this leaves me around £170 per month worse off.i can cope fine my reducing my outgoings (sky tv,mobile phone etc)and shopping at the right question is if i can maintain my payments to iva will i be ok? or will my iva fail on my I/E?


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Post by kallis3 » Mon Sep 13, 2010 7:57 pm
Hi bandit, nice to see you.

Make sure you put all your current I&E down, it may be that you can have a reduction. You do need to put down everything that you spend.

Don't leave yourself short - you should be able to live and not just exist.
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.


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Post by MelanieGiles » Mon Sep 13, 2010 8:07 pm
Your IP ought to be able to reduce your payments by up to 15% without recourse to creditors, so if you are genuinely struggling this may be worth considering.
Regards, Melanie Giles, Insolvency Practitioner
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