In the last year of IVA they are increasing our payments by 180 per month

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Melissa.w
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by Melissa.w » Tue Sep 19, 2017 3:34 pm
We are in the final year of our Iva and have struggled to make the payments but now they have said they need to increase our payments by 180 a month as my husband has had wage increases the last 2 years. We have said we cannot afford this and our expenditure shows this but they are now going to fail us . We have given them payslips etc every 6months so why has the wage increase not been picked up before. So close to the end and now we're going to fail. Is thee anything we can do ?
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Foggy
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by Foggy » Tue Sep 19, 2017 4:04 pm
Wage increases take effect at the review following the pay increase and the IVA payment should only increase by 50% of the wage rise --- so you should still be better off. If you are struggling even after the increase in income there must be / have been something wrong with either your allowances or your spending.

If you genuinely cannot make the increase, which I assume includes an element for arrears, try suggesting an extension to the term to cover the arrears, rather than failing the arrangement at this late stage.
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