IVA Issues

KevGem2009

Hi,
I am not new to this forum as in "registered" but I am new to this forum as in " posting" last time I logged in was in 2009 and to be honest I pretty much forgot about it untill I had a spam email from the central website and remembered my account..

I'm here to ask what do people think of IVA'S???
Is there anyone in one who thinks its ok? Is near the end of their 5 year period and seeing the light?

Its just that, my husband, he's in a lot of debt, he tried paying his creditors back £1 a month....didnt work, he tried a DMP with Hanover Sterling and they wanted way to much money....didnt work, we looked in Bankrucpty but the ties were too horrid, so last August he entered into an IVA, which last 5 years and writes off any remaining debt...
The iva went ok, we made the regular payments of £250 that it was at the time, until he changed jobs, notified his IP and explained how his expenditure had now changed and that he couldnt keep up with the £250 payments due to his petrol increase and other such, of course his IP didnt like this and said we had to keep on making the payments even though we'd filled in another form and explained how we couldnt afford to do it, so we stopped paying, we had 2 payment breaks and then stopped paying, so when they rung up and asked, I explained and a default was issued...
In the meantime, due to tax credits decreasing, the iva people have rung us and explained that the payments were due to go down in april last to £198, so my hubby rang them back yesterday and asked basically how much could we afford to pay to stay in the iva and she said between £150 and £198 whereas they never said that before...its a big difference £100!!! :eek:
So the defaults been stopped and my husbands agreed to pay them when he next gets paid and to fill in yet another EXPENDITURE SHEET, stupid really because he filled in one when his job changed and nothings changed since :mad:

Now I'm thinking, is this the right thing to do?
My husband has an ex partner and they brought a house so maybe that will get taken into consideration??
I dont know...the iva people never really explained.

Can someone help
Please?

Thanks I'd be most grateful
Gem x

Want2Bdebtfree_3

Hi - Like you I am new to the site - my advice would be to have a detailed conversation with your IVA people and write down everything you want to ask them and take notes during the conversation. I had to take an IVA out last year and now have 4 years and 3 months to go ... but there are clauses as to how it might extend another year. My IVA team explained everything to me though and I have regular contact with them by phone and email and I log everything I pay and earn in a spreadsheet. Definitely speak with themand explain all your worries. Hope this helps.

Tixy

Hi Gem and welcome

It might be useful to ask for advice on the seperate IVA sub-board we have. There are some people who are against all IVAs but they can be the right option for some people, depending on their circumstances. As you OH is already in an IVA then people saying they are a bad thing won't help. There are people who get through there IVAs quite happily, but there are also people who do find that their IVAs fail for various reasons.

On the IVA board you will find people posting who are in IVAs so are likely to have had similar changes of circumstances like yourself and you will also find that some IPs post on there so you can get a professional view and see if your IP is acting in the correct manner. http://forums.moneysavingexpert.com/forumdisplay.php?f=159