www.iva.co.uk

Hi, was just wondering if I could get a little information please, we are currently 18 months to completing our IVA with freeman jones, our original payment was for 215 due to job changes and better incomes we know pay 481, have never missed a payment and always sent wage slips in. My partners job has stayed the same but I am a support worker, my monthly wage will be dropping by around 150 a month (have always picked up over time but this has now been stopped by the company and I have gone to my basic hours 30 a week) is it possible to get a new income and expediture form or will we will be expected to pay the 481 even if my wage has changed! Many thanks M Adams

Hi. Many arrangements give the IP discretion to reduce by up to 15% without speaking to your creditors. But if they don't a variation can be asked for if needed.

Speak to your case worker as soon as possible to get a new I&E sorted out to help you decide what to do.

A new i&e should be submitted so that your payments are adjusted to meet affordability

Your payments can be reduced without the need for a variation since they are still higher than the original payments. Contact Sarah from FJ who has helped a lot of their clients.

Dear Michelleadams07

I am sorry to hear of your change in circumstances.

There are a number of options we can look at for you which will depend on your new affordability.

You are welcome to drop me an email to Sarah.Jolly@FreemanJones.co.uk with your reference and we'll get in touch.

I hope this helps.

Sarah

I honestly can't thank freeman Jones enough you have been really understanding obviously just a little worried that after Xmas my hours and pay will change by at least 150 but we have a new income and expenditure form and hopefully it can be sorted!

Nice result and glad everything worked out well for you. Nice praise for FJ too.