www.iva.co.uk

Our wonderful coalition thieves have just decided in a few years all higher rate tax payers are going to loose our child benefit.

We have and in 2013 will still have 4 children and am going to loose £256 per month. This a a massive loss 5% of take home pay.

Currently I am paying over £1000 per month into the IVA and immediatly asked the IP for guidance. All they suggest is they will extend the IVA for upto another 12 months.

Is this right, I hope not to be honest this makes me livid.

I don't think anyone will be able to answer this until it actually happens. In another post Michael Peoples says that he hopes creditors will be understanding, but until we are in the situation no one will know for sure.

Quite agree with Skippy, but regardless of what they do there is nothing we can do about it.

I don't see why the IVA would have to be extended for a further 12 months, when this reduction in income is enforced upon you - but it is better to wait and see as there is a lot of water to go under that bridge before 2013.

I Agree with Melanie, assuming it does happen it something totally out of your control and dont see why you should have to extend your IVA. I would probablly suggest a variation in order to reduce your payments for the remaning term.