I think the car will be worth less than what they are owed. What would happen if the finance company say I still owe them more after handing it back? Would that automatically mean I fail the IVA.

Hi, I will now have to add £100 to my expenses per month to cover child maintenance payments to my ex, which she let me off paying due to my financial differculties before I started the IVA a year ago. My agreement is £90 to the IVA and £153 for car finance. I have called c.f. and asked if I should ...

Hi Lisa When I first applied, I wasn't well informed on the different procedures available. I was just relieved to get lower debt payments. Also the bankruptcy fees were impossible to find. In hindsight I should have opted for bankruptcy. The initial relief of lower debt payments has now been replac...

I would imagine the car isn't worth anymore than £3500, but I have £4800 owed on it. I have no assets and I rent. I have no intention on failing the agreement but if my income doesn't increase soon it will have to be done. I guess stopping car payments would make my via fail!

Thanks foggy. That's why I didn't want to ask them, in case they failed the agreement. It's been a bad 12 months at work due to the business being sold. Hopefully the new owners can turn things around. If however my situation doesn't improve, I would have to stop the car payments and VIA payments. T...

Hi all, I get paid weekly and my income is very irregular. I'm currently earning £60 less a week than what my i&e was worked out on. My payment is £90 a month because I also have a car payment of £153. I had a e-mail from creditfix stating my payments will be staying the same after my 1st year revie...

Ok, I might just have to see if my current employer can offer me some overtime. Although in the current climate I can't see happening when I need it. Thanks

Thanks, so I wouldn't necessarily need to give it all to them? Would it be treated like overtime?

Sent all the details off that credit fix required for my first review. A few days later it was returned and there was no cover note or acknowledgment from them! My annual review was requested 8 weeks earlier than the start date, so my question is- how long before they confirm if my payments will cha...

Morning all. I'm currently in full time employment, which my I&E is based on. If I got a part time job in the evening's (10hours) will all of this have to go to my payments or can I keep some for myself. Thanks

Dave Ramsey is an American financial guy, who is on social media and I watch him on YouTube. Although I can't follow his "baby steps" at the moment because of the IVA, I do find his methods, ideas the way forward for me. I will have to start embracing the IVA more, because before I was living above ...

Hi everyone, I'm New to this forum having started my ova in September 2017. After the initial relief of having more manageable payments, I have now already got to the point of worrying about money again. I have a fairly low payment amount until my car finance is paid off in April 2021, then that pay...

Hi Thanks for the replies. Definitely not a business, just trying to be able to give my son (12 years old) more games for his PlayStation. When I recently done my first annual review (2 months early!) The online bank statement request calculator tool, calculated these as my income. Also because I us...

Hi,
I sold some of my son's old toys, games, lego etc on ebay and got paid through PayPal. (He received the money) will this be classed as income during my IVA