I pay £485 a month in my IVA (its been two years now ) , my last post :-
http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=6898
stated we were having a child and needed to rent somewhere bigger and with all these extra costs i was advised to take a bankruptcy, we managed to re juggle finances so we manged to keep up the payments.
coming to my 2nd year review , since the last one we had a child we receive child benet of £70 a month and child tax credit at £20 per week. now i was going to put down £100 extra needed needed from the annual review for child costs but would they include the child benefit and tax credits in that amount? if yes does that mean they will not allow anything extra ?
another thing is my wife will have to stay at home to look after the baby, so she will not be returning to work so we will loose her income £330 Part time per month.
now with all this in mind and the cost of living increasing would the IP be willing to take lower payments , is there a min they have to accept or would they suggest i take bankruptcy if i cannot make the payments.
i don;t want to go down thwe bankruptcy route as i want to buy a house one day and i will loose all the money i have paid over the last two years.
[:(]
