| T O P I C R E V I E W |
| ki234 |
Posted - 30 January 2012 : 16:12:01
I am currently in an IVA paying £400 per month, I cannot afford this and am struggling, my IP confirmed that this is the amount I agreed to pay - I need some advise as I'm not sure what or where to go |
| 5 L A T E S T R E P L I E S (Newest First) |
| Niobe |
Posted - 30 January 2012 : 19:21:54
I hope you can continue, I only asked about BR as it could have been a possibility.
If you claim PPI then it will just go straight to the IVA or to the creditor you have claimed from. You won't be able to use it as a full and final payment or to maintain your payments.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| ki234 |
Posted - 30 January 2012 : 19:02:55
No I don't have any assets, I don't have a house a car etc. however I have heard that your landlord may ask you to leave the property in the event that you become a
Bankrupt?? I don't want to declare myself bankrupt, I have been in my IVA for nearly 2 years i just feel that my IP should hopefully come to an agreement as there is no way I can continue for 3 years like this. I feel like i have been mislead into my IVA.
On another matter can you claim PPI when in an IVA as if this is possible this may enable me to either pay off what i owe earlier or enable me to manage these payments
Thanks
|
| Niobe |
Posted - 30 January 2012 : 18:47:49
They can lower your payments if you're struggling. It may mean going back to the creditors but they can do that. If you are having problems then they should be able to help you.
You can contact your IP directly via this link:
http://www.insolvencydirect.bis.gov.uk/fip1/
Send him/her an email and explain the position.
How long have you been in your IVA? Do you have any assets that would be at risk if you went bankrupt?
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| ki234 |
Posted - 30 January 2012 : 18:42:23
Hi,
Thanks for replying. I'm with simple debt solutions. When i originally applied I was struggling to balance the amount of debtors
I had. I owed £16k but through lots of different companies. I was told that by entering an IVA it will lower my monthly charges and that I wouldn't pay back more than
I originally owed. I'm now paying £400 per mth and also they want 50% of any commissions. After I've paid my outgoings rent, electric etc
I'm lucky to be left with £200 a month for food and travel to work which alone is £80 a Month. In total I'm going to pay £8k over what I originally owed and I can't afford
These payments. I tried to speak to my IVA before who told me I couldn't lower my payments and confused me to the point that said I wouldn't be paying over anything that i originally owed??
Any advice on how I approach my IP??
Thanks for your help
|
| Niobe |
Posted - 30 January 2012 : 17:08:14
Hi and welcome.
You need to speak to your IP and tell them that your payments need altering. You should do a new I&E so they can see how you are struggling.
The IP has the discretion to lower your payments by up to 15% without resorting to the creditors.
Which company are you with?
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
