Scope to reduce monthly payments ?

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seb_s

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Post by seb_s » Sun Mar 13, 2011 4:13 pm
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Im in an IVA and my girlfriend is now expecting a baby.What sort of scope is there within an IVA to reduce my monthly payments? Money is ok now but things will get a bit expencive. Im currently paying back £514 a month. This is about 60% of my debt. Many thanks
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kallis3

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Post by kallis3 » Sun Mar 13, 2011 4:14 pm
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Hi sebs,

Congratulations on your news.

You need to speak to your IP about this - they can reduce payments by up to 15% before speaking to creditors but anything else will have to go to a variation meeting.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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Shining

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Post by Shining » Sun Mar 13, 2011 4:14 pm
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http://iva.co.uk/forum/topic.asp?TOPIC_ID=35868

A very similar post can be found via the link, hope this helps you, but do speak with your IP directly. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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