Hi, hope someone can help, my IP won't take increase in cost of living into account.

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James.pd

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Post by James.pd » Mon Jan 21, 2013 4:26 pm
Hi, hope someone can help, my IP have amended the amount i need to pay each month. Although my pay has increased the cost of living has too, however they wont take that into account. Is there something i can do?
 
 

Foggy

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Post by Foggy » Mon Jan 21, 2013 4:30 pm
Hi James. First of all ask them for a written breakdown of the new calculations ( I assume this is on an annual review) and see where you differ. Then highlight this to your IP directly. There is a very good chnace that the review was dealt with by support staff and they have overlooked the increase in expenditure.

It shouldn't happen, but with the best will in the world, it can :-)
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

GilliB

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Post by GilliB » Mon Jan 21, 2013 4:53 pm
Hi james. Welcome to the forum. Did you submit a revised I & E when your pay increased? If not, it would definitely be worth doing so, so it is clear how the income increase is being swallowed up. Good luck. x
IVA journey started: 30th March 2009. Settled: 17th July 2012. Completion Certificate received: 13th March 2013. Breathe. x
 
 

Michael Peoples

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Post by Michael Peoples » Mon Jan 21, 2013 4:58 pm
Your IP must take inflation into accountb and then your payments are normally increased by 50% of any additional surplus. Thje others are right in that you should request a review.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

MelanieGiles

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Post by MelanieGiles » Tue Jan 22, 2013 12:42 am
It may be that your IP is insisting that your expenditure be in line with current CCCS guidelines - however these also ought to take account of inflation.

What areas have they reduced and what figures did you originally submit? Could you also tell us how many adults and dependent children there are in your household.
Regards, Melanie Giles, Insolvency Practitioner
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