IVA monthly payments - Circumstances have changed.

DFS

Hi All

I am currently in a 6 year IVA which was such a weight off my shoulders when I was accepted.

Whenever I earn more then my threshold each month, I call Stepchange and pay the extra into their account.

When accepted, I was in receipt of PIP, Low rate for care and mobility. I even agreed to offset £80 of it each month towards my payments.

Last month, I was awarded high rate mobility, but have only just realised that I have not informed them. Do you think this will be a problem? I don't want to rock the boat in anyway.

Also, if I was to get a mobility vehicle with my payment, and transfer ownership of my existing vehicle (fully payed for, and worth £1500) to my partner, would that be an issue also?

Cheers

DODGY

Craig1981

I had few circumstances change when in my IVA, and each time was no issue with the IP. just needed to do new I&E, and continued to pay as normal.
no, no problem telling them now about your higher rate mobility. your ongoing payments may change though.
as for the car, cant be too sure, so speak to your IP. When i went onto an IVA, as my car my fairly new to me and reliable, i got three selling quotes, which averaged £3600. they agreed for me to pay extra £10 a month addition to my payments in order for me to keep my car and not go through selling it and replacing with a cheaper model.

when i did overtime,the IVA required any additional income i would have to pay 50% towards the IVA, the remainder i was allowed to keep. could be the same for the car? sell it to your partner, pay half towards the IVA? best to check with IP and see what they agree for you

hope all works out