www.iva.co.uk

I moved in with my partner 2 years ago and was already in an IVA. I've made 33 payments so far. I missed one back in November as I had a lot of travel expenses through work and was struggling to pay for them. The payment is being tacked onto the end of the IVA. My partner has now not worked for 18 months and I've been really struggling to pay my IVA and the bills. Is there a way I can ask for smaller payments over a longer period? Will this reflect badly on me? I'm not sure when my partner will be able to work as she is on a pain medication programme and its a bit of a trial and error approach to find out what will work for her.

Any advice would be great. My annual review is due in March.

I currently pay £900 per month (roughly half of what I earn). I was paying 39p in £ in my original proposal but with payments as they are now it will be around 86p.

You should approach your Supervisor to ask them to convene a meeting of creditors to reduce the level of payments closer to what was originally proposed.

Your partner being off work for medical reasons is a fair reason for creditors to agree to lower payments. However, just like the original creditors' meeting, 75% by value of those voting would have to agree to a reduction, if this doesn't work, then I'm afaid that you're stuck with the existing level of payments or the IVA will fail.

Philip Beck - www.freeivaadvice.co.uk

Licensed Insolvency Practitioner and IVA specialist

An IVA payment based upon half your earnings seems very high, and as Philip says a variation meeting is the only way forward to get the terms of an IVA amended.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp