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T O P I C R E V I E W
zebb
Posted - 03 April 2008 : 15:09:29 hi, i have an IVA which has been ongoing for 9 months. i m finding it a real struggle to make payments. i have a car on HP which ends in august and the iva people also want this money paid to them once the car is paid for, making the IVA payments around £400!! I am considering filing for bankruptcy as i cant see a way out from this. please give me some solid advice as i am now receiving mail from the IVA council?? thanks
2 L A T E S T R E P L I E S (Newest First)
melanie_giles
Posted - 04 April 2008 : 01:45:31 As your IVA is fairly recent, the Supervisor may be able to reduce your payments by up to 15% without recourse to creditors for permission. Might be worth a shot if you are feeling the pinch, and it would be sensible to prepare a revised income and expenditure account to see what you can actually afford to pay.
The car HP payment is a fair one - if you are not paying it to that creditor, then the others should share.
Reviva UK
Posted - 03 April 2008 : 15:59:36 Hi Zebb welcome to the forum Did the iVa provider discuss all the solutions to debt prior to entering the IVA?
If we can get a little more information we will be in a position to assist with the answers.
what make of car do you have, how much are the monthly payments and what is its current value?
Also do you own a house or any other assets?
It might be good to know your type of work so we can advise if this is a problem. Would also be worth reading your employment contract to confirm that Br is not a problem.
No doubt the IVA council have said stop paying your iva for 3 months and pay them 1200 !
if you have no assets this service is certinly not worth 1200.
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
