Struggling with IVA payments

volorg

Hi all, looking for advice on the best way forward! I took out an IVA in October 2007 and the original payment was set at £370 per month. This was reduced on my application to £330. This year, from April, I have had to reduce my payments to £255. The reasons for this are mainly linked to the costs of childcare. I am a single, working parent and pay the full costs of private day care for my daughter. I receive child tax credit but this is linked to my income. At the time of the IVA my income was lower as it included a period of unpaid maternity leave. As my income has increased, the CCT has reduced and made it very difficult for me to meet the IVA. I also have issues with the IVA not taking into account costs of dental care etc (this is supposed to be covered in a £20 per month contingency). As a diabetic I have higher care needs such as annual eye check. This is free, the new glasses I need every year are not!

Anyhow, hate to moan on and on. I want to know if becoming bankrupt would be a better option for me.

Thank you!