Maintaining IVA

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I just got a letter from my IVA company which stated that they were satisfied that my payments did not need to be increased but I must contact them within the next seven days to demonstrate how I am maintaining my IVA as I had only £290 to give my creditors but yet I was paying over £330 to them. I think I over egged my expenses.

Can anyone give me any advise please?

Wooly

Comments

  • FavDaughter1
    FavDaughter1 Posts: 300 Forumite
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    i didn't want to read & run but sorry i've no idea. i'm sure someone who knows more will reply to you.
  • woolysheep
    woolysheep Posts: 64 Forumite
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    Hi, will someone please advise how I can beliveably reduce my outgoings so that I can still maintain present payments.

    Thanks, wooly
  • debtinfo
    debtinfo Posts: 7,012 Forumite
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    simple you should always be and always have been completey honest about what your outgoings were, then the amount you are paying would exactly match what your surplus is
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • woolysheep
    woolysheep Posts: 64 Forumite
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    Well thank you debtinfo. I have been paying my iva for 4 years and somehow I have miscalculated. I have always been honest with my supervisor, who helped me enormously and I have found where I made my mistake. So please don't rush in to accuse people of being dishonest.

    Wooly
  • judojub
    judojub Posts: 276 Forumite
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    Hi wooly.
    I am quite new to this and don't really have an answer I'm afraid.
    Is it perhaps worth giving your IP a ring? Explain it to them and see where you can go from there?
    Bit stumped. Sorry :(
  • debtinfo
    debtinfo Posts: 7,012 Forumite
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    Using words like over egged and believably dont help your cause, if it is an honest mistake, simply tell your IP that
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • dbt3mummy
    dbt3mummy Posts: 199 Forumite
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    Have they never asked you to fill in an expenditure form?

    How far into your IVA are you?

    If you are paying more than what they can see as disposable income then maybe you or their calcuations are out. It could mean if they are worried that you will get yourselves further into debt then a reduction if your monthly payment may be needed.

    Food bills are usually a good place to try and cut back if you need to make the extra £40.
    Cabot (0%) left to pay £2455 let the overpayments commence! :D
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