New Post Advanced Search

IVA modification question

1 reply 62 views
johnstandyjohnstandy Forumite
1 posts
MoneySaving Newbie
When my IVA was agreed a modification was entered by the creditors which I agreed to. The modification was:

The debtor must seek to obtain Child Maintenance payments from his ex partner. 60% of any monies being received as a result of this must be introduced into the Arrangement for the benefit of creditors."

I had to enter the IVA due to a breakdown in relationship. Unable to pursue a payment from ex partner via CSA due to her no longer living in the UK. I entered the IVA in around September 2019.

To date I think I have been adhering to the modification as I have been communicating and seeking to obtain funds. I have now advised Stepchange that I will be receiving £50 per month from ex partner.

Debts were in the region of £44k (loans and credit cards). I am currently paying back £442.42 each month into the IVA.

 My question is do you think this satisfies the modification or not? I believe it does as I have sought and agreed to the maintenance payments. I was wondering if they could refuse and state it is too low.

Does anyone have any experience of this?



Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support