www.iva.co.uk

i hope you can help me, im desperate ! i have an iva with debt free direct approved 20/7/09.i am paying 644 per month, i have fallen into difficulty and agrred to pay 1 month arrears over 1 year so my payments have increased to 717 pmonth. i am part time and my hours have decreased so my monthly wage is 590 not 680 as whenthe iva was approved!. my ptrs earnings have remained the same. i havent approaced them yet but im worried i will fail the iva...do i ask for a variation meeting??

Hi sam.d82

If your wages have decreased and you can't afford your payments then picking up the phone and discussing your options is the best thing. I really do not think you should have anything to worry about and I am sure you will feel better after speaking to them.

Take care.

Hi Sam
I am more then happy to look into this for you and provide any help and advice you need.
This is something that does happen and we will do what we can to help you through it.

My email address can be found on my profile under the experts section.

Thanks

Hi
If someone misses a month I can never see how they can be expected to increase monthly payments to cover this unless they earn overtime ? If you are paying 100% of your disposable income surely you can't pay any more on top of this.
Tagging missed payments on the end of the IVA is surely the best way to deal with any arrears
Regards

Hi Andy
I would need to see the case details before commenting fully on that one as we do discuss payment plans individually on a case by case basis.

Thanks

You know what guys, I SO wish I had on tap advice like this when I started my IVA! I can't praise the experts on this forum enough

Enough gushing from me HA!

Cx

Sometimes clients will economise on their normal expenditure in order to repay arrears, others prefer to see them added to the end of the IVAS. I would always prefer to see some gesture made towards the arrears, but not if this led my clients to suffer undue hardship moving forward.

hey sam hope youre ok. best thing is to contact your ip and see if they can arrange a repaymrent plan with you. please dont feel guilty or worry somethings cropped up through no fault of your own and any reasonable ip will see this.
im sure like andy says either they can allow you to pay this arrears back in small amounts or tag it to the end. please dont fret and call your ip asap. take care ok fd x

I'm sure Declan will sort this for you Sam, just drop him an email.

I always try to pay a little towards my arrears that I have within my IVA and thus reducing the extra amount owed. However, I have a standing order payment and can adjust this accordingly month by month depending on expenditure. I think the only thing wrong with doing it this way is that you never build up a contingency.