full & final worried and confused

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floridaholiday
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by floridaholiday » Mon Jan 25, 2010 1:26 pm
I lost my main job last week. I work for 6 hours on a saturday for waitrose. I get £140.00 per month. Our total income is £1911. Our expenditure is £2150.00 Making £239.00 per month short, without the IVA payment of £275.00. GT have given us a three month payment break, and we are going for a full and final on what has been paid so far. Gt are phoning me tommorrow to go through process of information needed. My question is we need to move, because as stated on previous posts, the house is damp and costing us a fortune to heat. If we were able to move during the three month payment break, and while offer was being put forward for full and final. What happens then? what happens if hubby was lucky enough to get a bonus? would we get into trouble for this, even though on paper we are £514.00 per month short for bills and IVA payment. I am worried that if full and final was accepted then circumstances changed eg. our expenses were reduced in a new house, and I found a job, this looks like we were being deceitful and this is not our intention at all.

 

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MelanieGiles
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by MelanieGiles » Mon Jan 25, 2010 1:36 pm
If you were to move house during the payment break period, this is unlikely to have much affect on your current situation unless you went into cheaper accomodation - in which case the new rental figure would be reported to creditors within your variation report.

If your husband receives a bonus, it would be dealt with in the same way as bonuses are dealt with at the moment - ie all or part of the money received would need to be paid into the IVA.

 

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floridaholiday
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by floridaholiday » Mon Jan 25, 2010 1:42 pm
thanks for your reply Melanie, but what happens if the full and final does get accepted, then I find a job, would we be looked at that we could afford the payments, so the full and final offer should not of been accepted

 

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MelanieGiles
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by MelanieGiles » Mon Jan 25, 2010 1:44 pm
I assume that the IVA would conclude shortly after the offer is accepted by creditors, so anything that happens after this time is irrelevant as you will not be subject to the terms and conditions of the IVA.

 

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floridaholiday
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by floridaholiday » Mon Jan 25, 2010 1:47 pm
thanks melanie that puts my mind a rest a bit.
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