An IPA Question

diddly74

Hello People

I would like to ask a question. Hubby and I are due to be AD in March and are currently paying an IPA (it has just started - due to finish Dec 2013) Anyway - with the financial situation of the country as it is and the cost of living rising it has been worrying me that should such things as car costs (petrol, tax, insurance) as well as living costs (House insurances, food, heating and lighting) that we will be struggling to live, meet our bills and pay the IPA.

If this happens what should I do? It is starting to keep me awake at night, as I am bl***y sure our insurances will rocket this year - car due in February and when I looked at confused.com they couldn't come back with any company that would give us a quote for home contents insurance now we are BR and renting.

Tupperware_Queen

if your circumstances have changed, which could include big increases in costs, you can ask OR to review payments as I understand it.

I know 10 years ago when we had an IVA we did the same. Just be prepared to evidence the figures if they are higher than previous

BB&B

If there are ANY changes in youe available surplus, then don't be afraid to talk to Moonbeaver (who will be collecting the IPA) they are very used to people cahnginf their IPA payments, and are pretty good at this now.

If things get to high then they can (and do) suspend the IPA in consultation with the IS.

Tim