only supposed to pay what you could afford ?

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kieser

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Post by kieser » Thu Apr 17, 2008 9:09 pm
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I am in a iva.Last year we did our income & expenditures & our circumstances had changed.we were paying £500 mthly & after doing our income & expenditure last year we couldnt afford anything.when i asked my ip why my mthly payments hadnt been reduced i was told if you dont pay £500 mthly still you will be made bankrupt.i thought you were only supposed to pay what you could afford.so we are having to still find £500 mthly even though are income & expenditure clearly shows we dont have that disposable income every mth.
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MelanieGiles

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Post by MelanieGiles » Thu Apr 17, 2008 9:42 pm
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Hi keiser and welcome to the forum

How are you affording the payments then if your figures say you can't?
Regards, Melanie Giles, Insolvency Practitioner
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