bill increases - do iva's adjust for this

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anais743

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Post by anais743 » Fri Feb 01, 2008 7:39 pm
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I expect in the next 5 years council tax will rise as will petrol and fuel bills. Does your iva yake into account this in the annual review?

In all honesty in reality how often will payments to creditors decrease in view of this? My opinion is that costs of living will increase year on year (and if salarys dont,mines frozen for 2 years) then surely payments must decrease?
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Adam Davies

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Post by Adam Davies » Fri Feb 01, 2008 10:12 pm
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Hi
In recent IVAs your IP should have the power to reduce your payments by upto 15% if need be to address increases in expenditure above your annual pay increase.
Regards
Andam Davies
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