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Posted: Sun Mar 13, 2011 4:13 pm
by seb_s
Im in an IVA and my girlfriend is now expecting a baby.What sort of scope is there within an IVA to reduce my monthly payments? Money is ok now but things will get a bit expencive. Im currently paying back £514 a month. This is about 60% of my debt. Many thanks
Posted: Sun Mar 13, 2011 4:14 pm
by kallis3
Hi sebs,
Congratulations on your news.
You need to speak to your IP about this - they can reduce payments by up to 15% before speaking to creditors but anything else will have to go to a variation meeting.
Posted: Sun Mar 13, 2011 4:14 pm
by Shining
http://iva.co.uk/forum/topic.asp?TOPIC_ID=35868
A very similar post can be found via the link, hope this helps you, but do speak with your IP directly. x