Hi i have been paying into my iva for nearly 5 years,it is over a 6 year term at the request of northern rock, we really are struggling to cope i have 2 teen age children who quite frankly have had nothing in the last 5 years, because i manage a pub and live on site i pay no rent or other bills and am paying back 85 pence in the pound, dfd have turned round and asked for another £220 a month which i can not manage, we have been taking handouts off family for years just to get by, i work over 80 hours a week and every spare penny goes to the iva, i reckon i have paid back around 80% of the debt what will happen if i stop payments as i am going to be falling into arrears as family cant help me any more
Where have DFD got their figures from to request the uplift in payments? Presumably from information you have provided them with regarding your trading results and expenditure? If you feel that you cannot afford the new level of payments, I would arrange to have a meeting with your IP to see how this has arisen. No-one will want to see an IVA failing when you have paid in so much for so long, but clearly something has gone astray with the numbers on this occasion.
Please find my email address in my profile. If you could drop me an email I will look into your case further, and get back to you with an update and to answer any questions.
