will pay less in iva if you earn less

3 posts Page 1 of 1
Post Reply
 
 

nongnaleon

User avatar
Posts: 19
Joined: Sun Aug 03, 2008 10:31 pm
Location: United Kingdom
Post by nongnaleon » Thu Aug 28, 2008 3:34 pm
Quote
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
paul bloor
Top
 
 

kallis3

User avatar
Forum Expert
Posts: 77177
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom
Post by kallis3 » Thu Aug 28, 2008 3:46 pm
Quote
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.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Fri Aug 29, 2008 12:54 am
Quote
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.
Regards, Melanie Giles, Insolvency Practitioner
Top
Post Reply
3 posts Page 1 of 1
Return to “bonus, overtime, pay rises and windfalls”