www.iva.co.uk

i am in an iva and have got to update my expenture now my mortgage has gone down with the interest date but am concerned if i alter this it could go up again so do i need to change it and then if this does happen contact them

You do need to inform your IP that it has gone down, but you might be ok anyway if any of your expenditure has gone up.

If they do alter the payments, then when the rate goes up again, you can inform them again and they payments should be downrated accordingly.

I wonder if Ips would drop contributions as quickly as they put them up??

Just put down what you spend K&M's MUM. And if the mortgage goes back up,you would normally get a few weeks notice so hopefully that would give you time to talk to your Ip again to reduce your iva payment.

Paul

anybody no how much roughly to put down on expenture form for household/food currently down for 450 but what with prices going up just dont want to go too steep

How many in the household K&M's mum?
Its surely gone up in the last year,and if you go too high your IP would likely just knock it back down a little.

So long as the original level of contributin is not being affected, IPs ought to agree to lower contributions as a result of increased expenditure as quickly as they are to increase them in the converse.

4 in the family

Under CCCS guidelines for a family of two adults and two children you are looking at anything from £293 to £471 per month - but realy you ought to put down what you actually spend.

add your receipts up and put down the actual - I know it varies each week but it will average out overall. not point guessing - use your actuals and as Melanie says hopefully if they put your payment up slightly, when the time comes they will /should willingly reduce it again. Good luck

Far better to put down too much and have it reduced, than not put down enough.

I am with you on this Jan,I would put a.ittle extra down,its tight enough in an IVA,your Ip can only say NO!!!