i am in an iva and have got to update my expenture now my mortgage has gone down with the interest date but am concerned if i alter this it could go up again so do i need to change it and then if this does happen contact them
You do need to inform your IP that it has gone down, but you might be ok anyway if any of your expenditure has gone up.
If they do alter the payments, then when the rate goes up again, you can inform them again and they payments should be downrated accordingly.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I wonder if Ips would drop contributions as quickly as they put them up??
Just put down what you spend K&M's MUM. And if the mortgage goes back up,you would normally get a few weeks notice so hopefully that would give you time to talk to your Ip again to reduce your iva payment.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
anybody no how much roughly to put down on expenture form for household/food currently down for 450 but what with prices going up just dont want to go too steep
So long as the original level of contributin is not being affected, IPs ought to agree to lower contributions as a result of increased expenditure as quickly as they are to increase them in the converse.
Under CCCS guidelines for a family of two adults and two children you are looking at anything from £293 to £471 per month - but realy you ought to put down what you actually spend.
add your receipts up and put down the actual - I know it varies each week but it will average out overall. not point guessing - use your actuals and as Melanie says hopefully if they put your payment up slightly, when the time comes they will /should willingly reduce it again. Good luck
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Far better to put down too much and have it reduced, than not put down enough.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
