Should my IVA payments go down if I now have less debts?

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andrew372

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Post by andrew372 » Wed Aug 28, 2019 2:04 pm
£5000 been wiped off my debt, due to a car loan, and not being giving the best options for repayment. Should this reduction be reflected in my iva repayments . Aperture stated payments remain the same.

Foggy

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Post by Foggy » Wed Aug 28, 2019 2:08 pm
Aperture are correct --- your payments bear no relationship to your debt level, but are simply the difference between your income and agreed expenditure.
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 » Thu Aug 29, 2019 8:57 am
I agree with Foggy - your payments are based on what you can afford to pay back.

This just means creditors will hopefully receive more than originally estimated.
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
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