www.iva.co.uk

Hi All
We are an self employed our income isn't regular.We have been an iva for 7 months and it going to be the 1st review soon.Just want to know if our income have earn less than last year would we will pay less in iva or we still pay the same.
Thank you

Hi Paul,

That's something you will need to take up with your IP. They will look at your income and you will also need to do a new expenditure form. Don't forget how much everything has gone up this year.

They'll look at it and decide your payments for next year.

In certain circumstances, your IP may only be able to lower your payments with the express permission of your creditors - so a variation meeting may have to be called.