Annoyed!!

[ivoriva]

I think there has to be some justification for increasing the rent on the basis that it seems low at £150 and with your payrise and a big increase in rent the creditors are still going to be a lot better off.

I also agree that your mum should be told. As then maybe she would accept a bit less than a £200 rise, which maybe easier to justify with your creditors. Maybe a signed letter from your mum might help, to help justify it. But then she would have to know to be able to write such a letter... are there any other expenditures which you can increase?

The bottom line is, those of us in a IVA may as well not try to improve ourselves as it only seems to be the creditors that benefit. Sure the creditors should benefit, but we debtors should too at least to a degree (even if its just 25% of a payrise we get to keep). At least that gives some motivation.

But having said that, in 4 years it'll all be yours to look forward too - so do keep that in mind. Eventually you will benefit from all the extra work you will be doing...

[iva experts]

Hi Sarah,

Good on you for contacting your I.P and letting them know of the change in circumstance, although it is a shame that no one there quite knows what to do with that information.

Just remember that we are all human and because of that we all make mistakes, I’m sure that your mother wants the best for you and at the moment that means doing an IVA. Ultimately the decision is yours but as Skippy has mentioned 5 years is a long time to struggle and keep a secret.


Best Regards. IVA Experts

[Sarah]

Morning All

Thanks a lot for all of the advice, I have calmed down a bit now! I just see it as if i was to move out or if i was already living away from home the £350 all invlisive to me does not seem that much! But after i had calmed down i phoned them back and they are going to put forward my proposal and see what the creditors come back with so i am just playing the waiting game now! And if i have to go to £800 a month (which would take me up to 100p!) then i will have to look into other options as i can't afford that! ont top of all the other expenses i have got. Surely it is better for them to accept my proposal and me be able to pay that rather than raising it and then i can't affort it and miss payments and then either go Bankrupt... But we shall see i am just going to try and forget about it until the day comes.

[MelanieGiles]

Hi Sarah

You are absolutely right, and I am sure that creditors will see the sense in accepting a lower, affordable payment, than one which really stretches you and possibly which will fail the arrangement. Do make sure that your circumstances are fully explained within the variation proposal.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Sarah]

Thanks Melanie, I was so annoyed yesterday i had to go and work from home, Luckily i have got some great bosses and they were completely understanding... they have even offered to write a letter to them but i don't think would help anything but it is nice to knw that i have their support.

[Oliver]

All the best with everything Sarah, please be so kind as to let us know the outcome of this.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[iva experts]

Good Luck with everything Sarah, I hope everything works out.

Best Regards. IVA Experts

[tracy.h]

The same Sarah as the others have said goodluck i hope you can sort things out feel free to post even if its just to let of steam,theres always someone here to give advice or just to have a chat

Tracy

[Neverguess]

Keep us updated, Sarah. Be intersting to see what they say! Good luck with it all [:)]