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Posted: Fri May 13, 2011 1:07 pm
by robbiegooner
I have just started IVA (first payment June)but already there are a number of changes in my life. extra employment is good but has been offset by the requirement for a vehicle and my lodger moving out.Am i entitled to ask for a review incorporating these new details?
thanks.Rob
Posted: Fri May 13, 2011 1:40 pm
by MrsKnight
Hi Rob & a warm welcome to the forum.
Things can change at any stage of your IVA & its always best to get onto your IP/IVA firm, they are there to help & support you through your IVA at any stage.
Posted: Fri May 13, 2011 1:41 pm
by liamjames
Hi Rob and welcome,
You certainly need a review and your IP should take these changes very seriously. Only your IVA company will be able to tell you whether or not these changes require a variation or whether the terms of the IVA can remain the same.
Best of luck and please let us know what your IP says.
Posted: Fri May 13, 2011 2:12 pm
by robbiegooner
thank you for your replies.
is a variation required if IVA payments increase or only if they decrease from original arrangement ?
Posted: Fri May 13, 2011 2:33 pm
by Ivoryfalcon
IP's can generally reduce payments by up to 15% without having to call a variation meeting.
Regards