My friend is in an IVA (like me). She has asked me to help her today. But I don't know the answer to her question.
Her problem is that she has two mortgages which she pays and then has her I&E in her budget. She pays her disposable of £400 into her IVA. Prior to her getting the IVA a creditor put a charging order on her property. She hasn't paid anything towards this. It is to secure a CCJ for about £15k. The creditor is pushing her to make some form of payment saying as they are secured they aren't included in the iva and she should make ararngements with her supervisor to arange her I&E so that they get an instalment payment -if not they will issue proceedings and take her house!
Can anyone advise?
IVA completed September 2014. Finaly debt free - final dividend 88p/£
They are excluded from the IVA as they are secured and they do have a right to take action if they want to so her I&E needs reviewing to allow for this - hopefully there is some moargin to not reduce the IVA payment by too much but if it is a higher than 15% drop then it will need approval from creditors and the term of the IVA may need to be extended.
Hopefully your friend has a good IP who will get on the case for her as soon as she brings it to their attention.
Let us know how she gets on.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Update - my friend made an application to Court to vary the judgement the charging order is based on. It went to a court hearing and the judge made her pay £40 per month towards the charge:-) She pays this from her housekeeping until she has a review. So all well.
IVA completed September 2014. Finaly debt free - final dividend 88p/£
Suzanne - glad you friend has got sorted out - Is she managing to get the £40 together out of her tight budget ? - If not get her to speak to her IP - it may be they can sort an allowance out for this payment. This will be an arrangment for the next few years so it has to be managable
Last edited by ginger3232 on Mon Oct 03, 2011 2:04 pm, edited 1 time in total.
