can the amount of of the iva be incrased

[av18]

can the amount of of the iva be incrased if my financial circumatances change within the nexy 5 years

when an iva is set up, is thre a yearly maintainance fee

[emma_t]

Bit unsure of what exactly you mean as when you take out an iva all unsecured credit should be included and should not rise during the 5 years.
Are you meaning new credit? as you will not be able to obtain any while in an iva.

The fees for the Ip are included in the iva and come out of your payments to creditors, so you will not pay a yearly fee. They will all be included into your iva

[Viki.W]

Sorry, I read it as could your monthly repayment be increased if say your wages were increased. Is that what you were asking? Welcome to the forum, you are in the right place for advice. I just deleted my other reply Emma as I think I may have been wrong![:I]

[emma_t]

I think its me thats read it wrong Viki[:I]

Yes the monthly payment into an iva can increase if your financial position changes during the 5 years. Most of the time if you get wage rises they can be ofset as utilities and essentials increase also.

Sorry if I misunderstod your post the first time[:)]

[MelanieGiles]

The IP fees are built into the IVA proposal and have to be approved by creditors. They are usually drawn annually at the time the IP reports to creditors, at which time a full review of your income and expenditure will take place to see whether you could afford to increase your contributions.