www.iva.co.uk

I am currently in my second year of my IVA. Having just had a review, my payments have increased by £150/month to £683. When i filled out my I/E sheet, i sent a covering letter to expain that i was finding the payments difficult each month yet they still incresed the payments - i genuinely struggle.
I included the amount i pay into my pension (which was also taken into account when the IVA was started) but now my IP says that my creditors will question whether i will be allowed to make pension contributions.
Having been to CAB, they have advised bankruptcy as i have no assets and live in rented accomodation. My job involves alot of driving and i have to visit a sick parent regularly. The IP has asked when my mum is going to be better so that the extra cost of diesel can be taken away - i feel really pressurised ad every aspect of my life is being affected by these payments.
The original debt was £45,000. Any suggestions /advise on what i should do?
Thanks

I don't have an answer I'm sorry I just wanted to welcome you to the forum and to say that one of the great experts will be along soon to help I'm sure.
Sue

Hi Donut

You are being treated appallingly by your IP - which firm are you using? There is no reason why you should not continue with your pension payments, as creditors originally agreed to this, and I cannot see why they have increased your payments when you say you are struggling. Have you spoken to your IP directly about this, as I feel that you are being inappropriately advised at present.

I'm glad you have said that - i knew that the IVA was never going to be easy but i didnt think it would be this hard.
The company i went with are Clearstart and i havent spoken to them - dont feel i have enough back round information yet.I am going back to CAB this week but as i said, they feel bankruptcy is the best option but im not sure. I really dont think that the IP will back down. In total so far i have paid approx £13,000 into my IVA of which just over £5000 has been paid in fees. I dont want to look back and feel i made the wrong decision but i do feel that i was ill advised at the time.

Clearstart cases have now been transferred to their parent company - Debt Free Direct, so you might find that your new IP is a little more sensible.

Hello again,
Thanks for the advice so far.
I wrote to my IP stating that i couldnt afford the increase and the reasons why. They responded quite quickly without acknowledging any of the reasons i had given and went on to reiterate that the creditors would not agree to me paying into my pension. Im not really sure where to with this next but a company have been in touch (UK Bankruptcy Limited) and say that i have been miss sold my IVA and that they could help me apply for bankruptcy as this is the best option for me. Im really confused now - they have advised me to cancel my DD to Clearstart so that i default and they can start bankruptcy proceedings.

Whoa, donut. There have been lots of posts on here about them, if you wanted to go bankrupt you could do it yourself for nothing. One of the experts will be along shortly but in the mean time...type in IVA Council in the search and read some of the posts on here. It is a marketing strategy. X

If you want to bankrupt yourself go to wwww.insolvencey.gov.uk, there is an excellent user friendly online DIY system.
You have tried your best and if you really are having a bad time with the IVA and have nothing to lose it is a better option, also you will find that your budgets will be set more realistically. And you could be released from the BR as early as 6 months.