Get expert opinion. This is the place for new questions to be posted.
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mitch2311
- Posts: 247
- Joined: Tue Jun 12, 2012 1:53 pm
- Location: United Kingdom
Hi
Just been told my monthly payments on my electric bill are increasing by £17 per month. Do i let my IP know?
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
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I would personally but it may not be looked at until your review. Can you cope with the £17 extra payment? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
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You can but ask as Lesley says.
Can you manage with the extra payments?
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KAYKAY
- Posts: 1222
- Joined: Wed Jun 15, 2011 8:33 pm
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Mine was always going up and down. Each review time, I just had to produce the letter I had received from my electric company informing me of the revised monthly payment.
IVA Completed August 2011
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Broke of London
- Posts: 7761
- Joined: Sun Sep 05, 2010 6:04 pm
- Location: United Kingdom
Defo keep your IP informed of changes. If the £17 is a stretch too far, your IP may be able to reduce your contribution without caling a creditors meeting about it.
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mitch2311
- Posts: 247
- Joined: Tue Jun 12, 2012 1:53 pm
- Location: United Kingdom
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Harpic
You can but ask as Lesley says.
Can you manage with the extra payments?
Yes can easily cope with them
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
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I would probably drop an email to the IP or ring them to put on record and increase your I&E within your next review. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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KM1512
- Posts: 392
- Joined: Fri Jun 15, 2012 2:05 am
- Location: United Kingdom
My rent increased by £35 per month and I have to wait until my review in August before it will be looked at
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Rod Newman
- Posts: 310
- Joined: Mon May 16, 2011 8:10 pm
- Location: United Kingdom
My combined electric and gas gone up by £20 a month. Thankfully review is due soon so hopefully will be looked on in a favourable light
Rod
Most day's you feel like the statue but just once in a while you get to be the pigeon!
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plasticdaft
Forum Expert
- Posts: 9562
- Joined: Wed May 21, 2008 12:45 pm
- Location: United Kingdom
Its always worth letting your IP know but companies vary on when things like this will be dealt with. What you shouldnt do is struggle on if increases in gas and electric etc are stretching the budget too far.
Communication is key to the success of an IVA(that works both ways).
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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KAYKAY
- Posts: 1222
- Joined: Wed Jun 15, 2011 8:33 pm
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font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by mitch2311
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Harpic
You can but ask as Lesley says.
Can you manage with the extra payments?
Yes can easily cope with them
You must be very good at budgeting or have very generous allowances.... I know any changes to my bills used to cause me problems in my IVA, at least until review time.
IVA Completed August 2011
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KAYKAY
- Posts: 1222
- Joined: Wed Jun 15, 2011 8:33 pm
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font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Rod Newman
My combined electric and gas gone up by £20 a month. Thankfully review is due soon so hopefully will be looked on in a favourable light
Make sure you keep your correspondence indicating any payment increases/decreases and this should not be a problem.
IVA Completed August 2011
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mitch2311
- Posts: 247
- Joined: Tue Jun 12, 2012 1:53 pm
- Location: United Kingdom
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by KAYKAY
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by mitch2311
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Harpic
You can but ask as Lesley says.
Can you manage with the extra payments?
Yes can easily cope with them
You must be very good at budgeting or have very generous allowances.... I know any changes to my bills used to cause me problems in my IVA, at least until review time.
We had nearly £3000 paid into our account the day our IVA was agreed so we got a bit of luck. Let the IP know but all was ok
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KAYKAY
- Posts: 1222
- Joined: Wed Jun 15, 2011 8:33 pm
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Wow that was a stroke of luck... well done to your IP for allowing you to keep this. A good contingency fund at the start of an IVA must be a godsend.
IVA Completed August 2011
