Will I need to vary?

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suzanne100268

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Post by suzanne100268 » Mon Sep 12, 2011 2:14 pm
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I have an IVA I currently pay £700 month to with my partner. I am having to take another job which is around £350 pay drop. I will not be able to maintain the IVA payments. What will happen?
IVA completed September 2014. Finaly debt free - final dividend 88p/£
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kallis3

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Post by kallis3 » Mon Sep 12, 2011 2:21 pm
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Hi, d
Sorry to hear of the pay cut. You need to speak to your ip as soon as possible to work out a new I&e.

Hopefully you can negotiate lower payments,
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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MelanieGiles

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Post by MelanieGiles » Tue Sep 13, 2011 1:18 am
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Will you be able to offer any form of ongoing payments to creditors, or is your disposable income completely wiped out with the job change?
Regards, Melanie Giles, Insolvency Practitioner
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