borrowing from family and friends just to survive

[warren.v]

I have just completed the first year of my IVA, but have not had any news of the annual review. I require a review urgently, as my cicumstances have changed, and the administrators of my IVA, are taking more than half my income, hence i am having to borrow from family and friends just to survive. Can i do anything about this? ie. go back to the courts to get the payments lowered, as my IVA company are just not helping.

[TheMatrix]

If you're with one of those big IVA firms I would find out who your IP is through the insolvency register and write to them direct, with a new I&E breakdown and ask them to arrange a variation meeting with the creditors if you cannot afford payment.

Also your IP can lower the payment by up to 15% without referring to creditors if this is deemed necessary.

Your IP has a obligation to report every 12 months to creditors so cannot understand why you have not had a review yet.

[Viki.W]

Hey warren, welcome to the forum. I really feel for you, Inaiva is right, you should contact your IP directly, your IP shouldn't want your IVA to fail so they must help you. What company are you with? Viki X

[Skippy]

As Inaiva and Viki have said you need to speak to your IP directly, rather than a member of the admin staff. You can find the email address of your IP using the following link - http://www.insolvency-service.co.uk/newipsearch.htm

Good luck, I hope you get this sorted.

[warrenv]

[:D]
Thank You all very much for your time and trouble in replying, its great to know that there is someone out there that actually understands.
I will definetly be following up your helpful advice.
This IVA thing is very hard to get your head around, so its good to know there is a shoulder or two to lean on when in doubt.
Many Thanks
warrenv

[Soulgrowth]

Hi Warren ... just wanted to wish you luck and reaffirm that there's always a 'shoulder to lean on' here on the Forum [:)]

Good luck and let us know how you get on.

Debbie