Hi,

I am a nearly qualified IP.

As Kallis3 says, proposals vary, so do check what it says and ask your IP. Any increases in income will usaully be offest against increases in expenditure as well, so don't forget to check that out.

Regards

Avner

Hi, I work in Insolvency and am nealry qualified as an Insolvency Practitioner. If your net income has not increased (i.e after accounting for increses in expenditure) your monthly payments will not increase, indeed you may have a provision in the IVA for the Supervisor to allow you to reduce your p...

Hi,

You will need to check the impact with the DMC. DMA's are not usually legally binding on your creditors and so you may wish to consider a formal insolvency procedure - either IVA or bankruptcy.

In the first instance, contact your DMC and see what they say.

Regards

Avner

Hi, You will need to check your proposals and any modifications that may have been put forward. Usually, redundancy will be considered a windfall, and a percentage will be payable into the IVA, but do check. You can certainly put forward a variation to creditors, offering a lump sum payment in full ...

Hi dorset70, I am a nearly qualified Insolvency Practitioner with 5 years experience in the industry. Congratulations! I hope it all goes smoothly and you get much joy from your child. I am assuming that your IVA includes an annual review of income and ability to increase contributions, which is why...

Hi Tidalwave, I am a nearly qualified Insolvency Practitioner with 5 years experience in the industry. I understand your situation and am happy to offer you my advice. You may wish to try and make an informal arrangement with your creditors, but be aware that these arrangements are not legally bindi...