Payments to your IVA should only increase if your disposable income increases, and even then any increased expenditure is taken into account.
To be told to go BR and be 'debt free in 6 months' is complete rubbish. You are BR for 12 months, unless you get early discharge, which is a privilege and not a right. If you have £100 or more disposable income each month you will get an Income Payment Agreement for up to 70% of your DI. Also, your credit files will be shot for a further 6 years from the date of your BR.
Did you contact the company or did they approach you? Most companies charge a very large fee for something that is quite easy to do yourself.
If you are struggling with your IVA payments the first thing to do is speak to your IP who may be able to reduce the payments slightly.
I agree with Skippy. BR will get rid of your debts, but it will hang around your neck for a long time.
If you can afford increased payments and your IVA is running ok, then why not continue with it?
If you have problems then your IP is the first one to turn to. I would not recommend paying any company to help you go bankrupt.
Do you feel that these are unaffodable, or do you just object to paying more than was originally agreed?
If you decide that bankruptcy is an option you want to pursue, you do not need to use the services of a debt management company as the process is actually quite simple.
I dont think the increase they have asked for is reasonable .....if any emergency comes along in the month i am in trouble if i go ahead with the increase they want. I am also apprehenive in the future if they want more money again. how easy is the BR route when an iva is failed??
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