www.iva.co.uk

Hi,


1.Sorry if it seems i am asking the same questions but i have added some more details now. My Husband was made redundant 2 weeks ago- Good news he has now got a job but with less pay.I have just worked out my I&E and instead of disosable income of £727.00 per month we will now have £463.00. we have already paid in £17,000 and have a further 36 months to go.Original debt
What do you think our chances are on a variation being accepted?


2.My husband will get approx £5,000 for redundancy.Do you think he will be allowed £2,000 to replace his car. The car he has is on its way out, i do not want to set him up to fail in his new job as he needs to travel approx 60 miles a day. Do you think its make sense to ask now rather than wait for the car to pack up and then wait 3 months for a reply from IP?


Many Thanks in advance for any gratefully received advice.

As your husband is already due to start a new job, the majority of his redundancy money will be viewed as a windfall abd therefore available to creditors.

If your IVA payments have to be reduced, this will need to be at a formal variation meeting, at which time the issue of the car can also be dicussed. You really need to seek your own IP's advice, but if I were acting for you I would be supportive of you replacing your car and paying over the balance of the money he is entitled to.

Thankyou