www.iva.co.uk

Hi all,
I was just wondering if anybody had any ideas which could help me.
We are 1 month into our iva and struggling already. I am currently on maternity leave and my pay has been cut by about £20 a month due to tax rebates in the first few months, and it's about to get worse. I am due to return to work part time next month although my pay won't increase above what it is now as I'm only going back aprt time. The problem is we now need to run 2 cars. We have been lucky enough to have been given another car by a family member but obviously we now need to afford 2 lots of running costs.
I don't really want to ring m IP just yet as I'm scared they'll say the Iva is now unrealistic as we are only paying back £230 pcm on £34k for the first 2 years then £360pcm when my husbands car hp ends.
Any help would be much appreciated.

Martha I am so sorry to hear of your problems, however I do think you need to speak to your IP who I am sure will listen sympathetically and try to assist you.

Martha, please don't be scared of calling your IP, that's what they are there for. You will only worry, thinking the worst, when maybe, the IP can put your mind at rest and help you. I'm sure there is a solution to your problem. Thinking of you, Viki X

Martha

That is a real shame that you are struggling so early on into an IVA, and I would therefore have to question whether you made the right choice in the first place. Often people can get carried away with the idea of not having any debt any more, and this overriding thought can make you not think throught the implications of making sensible decisions about affordability. Please so seriously consider whether you can afford to continue with this arrangement over the next five years.