Hi, I'm after some advice please

[DIPPY]

hi,

im after some advice please, ive currently got 2 years left out of 5 of my iva which i believe i owed £15k

yes i know a low amount compared to others on here but i had nowhere else to turn to and was alone, and felt like i had no other choice.

For the last the last 2 years 8 months i have been paying £186 a month to my IVA but 4 months ago was made redundant

Luckily i found work quickly and for the last 4 months i have been trained and earning alot more than my old job.

So much infact im earning double than my old job but its based on commission only and im doing quite well.

I have been managing to save some money to be able to rent as alot of places round me wont accept people on a IVA unless pay 6 months rent in advance

currently live with my fiances mum but the house is really bad, theres no lights upstairs and there is no central heating so living conditions arent ideal and we have been here for the last year.

cant stand to live here any longer as its really bad, but worried if i can rent if the IVA payplan is going to take all my moneys, im due a review next week and panicking gonna lose everything

plus my income is commission based so the amount i earn is different every month

ive never managed to save anything for a contingency as money always been tight so is it possible to keep this money from the last few months to make up for none saved over the last 3 years?

we are really desperate for our own place but afraid the payments go up so much cant sustain a place of our own plus the payments even the council cant help us

i have to send 3 payslips through which will show my wage has doubled but like i said its commission only and its not always gonna be good what can i do or should i try to offer a payment to finish it early and how much should i look to pay?

im terrified and cant take living here much longer

[plasticdaft]

You should have kept your iva supervisor informed of all changes in circumstances. Dont panic about it, have a chat with them but remember your monthly payment is based on whats affordable so may go up.

Paul

[DIPPY]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by plasticdaft

You should have kept your iva supervisor informed of all changes in circumstances. Dont panic about it, have a chat with them but remember your monthly payment is based on whats affordable so may go up.

Paul

i work 0830 - 1830 6 days a week thus they are never open when i get home or at the weekends

i have tried contacting them via email and even sending my annual reviews via email but nothing ever gets done

i dont think i should have ever been on a iva and even 3 years in still feel confused and scared of everything, i dread everytime i get mail its a letter from payplan demanding something from me

what would be a reasonable offer to end a iva?

[DIPPY]

just got home and checking my paperwork, figures are below from when i signed in 2010

Money's owed £12435.30
IVA Proposal value £7753.20

Total paid back to date £5604.38

my review is due next week, should i offer a settlement and how much, my mum could do it if i begged her

[Foggy]

Well -- you have about 2150 to hit the dividend expected, so that, really, in the circumstances is what you should be offering.

However, you and they will need to sit down and discuss all the changes to your income and expenditure first. I imagine there will be monies owing on top of the agreed payments, if your income has increased and you have not told them.

[DIPPY]

its only the last 2 months my income has changed as the 2 months before that i was earning alot less but still only just making the payments

[Shining]

Try and have a word with them tomorrow, can you ring them in a break from work in a private area? Explain about your increase in income and also how you'd like to potentially offer a F&F...hopefully it will end up favourable to you. all the best x

[DIPPY]

sorry what does F&F stand for? and what do you think my chances are of getting this done?

i hate money and plan never to use credit again unless its a mortgage

[Shining]

Full and final.

[DIPPY]

thank you and its hard to contact them during my work day especially via a mobile will be costly

will try send them a email via their online system

[Shining]

Do you have your IP's direct email address? it can be found online, I'll post a link in a minute ... might be worth a try.

[Shining]

http://www.insolvencydirect.bis.gov.uk/fip1/

[DIPPY]

thank you im just sending them a message via payplanplus

if i sell my car due to getting a company car soon i will be able to offer a F&F is it worth telling them that?

that would surely be more than the £2150 i currently owe

[MelanieGiles]

Your current income and expenditure will have to be assessed, before an offer can be made, as your disposable income may well have increased due to your new job.

Seems perfectly reasonable to me to want to move out to a better place, and personally I would look at doing that first before you consider the future of the IVA - but of course do check what (if any) monies are currently owing to the IVA, but way of uplift payments.

[DIPPY]

hi melanie, see this is where im getting confused i would have thought i would be better of attempting to clear the IVA first so i can start my life again.

my income has increased for the last 2 months but before that i was in minus disposable income due to the nature of my job and commission but i still made those payments