www.iva.co.uk

Pleae can someoe advise what the rental allowance is in an IVA based on your salary. I have my review coming up and my Rental payment is now including council tax which is wasn't previosuly so my expenditure has gone up £100. Thank you.

hi star your council tax is a priority bill so it has to be fully disclosed as a expenditure,which is allowed,as is your full rent.

You need to put down exactly what you spend on rent and council tax for your review.

I agree with Kallis. Just write down what your rent is now and what the poll tax is. That way if you need to move you know how much rent you will be allowed at your next property. However, if you find somewhere cheaper to rent and your bills decrease then please remember that your IP will want the excess so always remember to be straight and above board.

I had a mortgage prior to going into rent. I was advised to rent for what the mortgage repayments were. Not sure if this helps any.

hi guys, i need to proove my increased rent which is fine as i can get my parents to arrange a signed letter but will this be enough proof? Would they need to speak to my parents? Thanks

I would think that a signed letter would be fine.

Morning,

I have today recieved a letter from Grant Thorton Saying my IVA payments will stay the same.

There is absolutly no way i can continue to pay what i was doing and if i do i will be constantly going over drawn and getting bank charges every month.

They even stated in their letter, However, i am concerned with your ability to maintain payments, as your review showed a suprplus lower than your monthly payment.

Why do you think they have not reviewed this fully and just ignored this fact and said my payments will remain the same?

I might have no choice but to go bankrupt after this as they are not helping me.

Pleas ecan someone advise.

Thanks

I would contact GT and ask them for a variation to your payments. Depending on the terms of your IVA they may be able to reduce your payments by 15% without the need for a variation meeting.

It seems strange that no-one has contacted you to discuss your ability to continue with the payments at the current level, and as Skippy says you must contact them if you feel you cannot continue to pay.

Thanks everyone, i tried calling earlier but i realised the letter says opening hours are Mon-Fri. I have sent an e-mail asking someone to contact me and given my case reference.

Regards

I hope this is sorted for you as soon as C.Star

Thanks Lesley,

I read throughmy terms of the IVA and it does say without having to have another creditors meeting i can reduce my payments by 15% and the UIVA is not allwoed to last more than 72 months. I don't want it lasting more than 60 months really but i'm guessing if my payments reduce my creditors will still want what was origionally stated. Nevermind im sure it will be sorted soon. Thanks.

Peace of mind about your payments has to be an advantage - even if it means having to extend for a further year.

Personally I would rather pay the extra year if it meant I could afford the payments. It's not worth struggling if you don't need to.