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Posted: Mon Sep 13, 2010 7:52 pm
by bandit
hey all,i have been in an iva for nearly a year now and am coming up to my first review.my income has decreased a little and my gas/elect has gone up.this leaves me around £170 per month worse off.i can cope fine my reducing my outgoings (sky tv,mobile phone etc)and shopping at the right places.my question is if i can maintain my payments to iva will i be ok? or will my iva fail on my I/E?
Posted: Mon Sep 13, 2010 7:57 pm
by kallis3
Hi bandit, nice to see you.
Make sure you put all your current I&E down, it may be that you can have a reduction. You do need to put down everything that you spend.
Don't leave yourself short - you should be able to live and not just exist.
Posted: Mon Sep 13, 2010 8:07 pm
by MelanieGiles
Your IP ought to be able to reduce your payments by up to 15% without recourse to creditors, so if you are genuinely struggling this may be worth considering.