IVA help

Baggiebird1nil

We are almost 3 years into our IVA (didn't find this site until well after we did but we were desperate) with Debt Matters (the ones who sponsor Bolton). They now want to DOUBLE our monthly payments by saying that we can cut back on our outgoings.:mad: Does anyone have a guidline on any figures that are deemed acceptable to DMP's please. We know that we have to go with them or risk losing everything but I just want to be sure that my figures are reasonable.
We cannot manage to double our payments so am panicking a little bit and with all the knowledgeable people on here I'm sure I will be pointed in the right direction.

Thanks

Merlot

I think the debt management company you are using charges you fees etc.

I would advise you to contact the CCCS, a debt charity today, they may be able to help you, they will certainly be able to offer you some kind of advice.
http://www.cccs.co.uk/contact/contact.aspx

its a freephone number and they will NOT charge you anything.

Sorry I cannot offer you any advice on your current management company wanting to increase your payments as I have little knowledge of IVA's.

HTH

Merlot.x.

Baggiebird1nil

Thanks Merlot. We know they are charging fees and as I said above I didn't know anything about this site until much later. We had been p*****g in the wind for about 4 years. I had agreed payments with all our creditors and then OH gets made redundant again! He got a job straight away but like the other 2 times he was made redundant the wages at his new job were lower than the one he had before. To be honest Debt Matters have been great up to now but we now have a new Case Manager and she is a real jobs worth. We have tried asking her how and where we can cut back but she says that is our problem. The new payments should start in March so I want to gather as much information as possible before that. If we can't convince her that we can't pay double what we are paying now (£360 per month at the moment) I will have to try her line manager.

recyclingbox

hi,
merlot is right ring the cccs asap. we were in the same boat as you a few years ago and the cccs rescued us. we are now debt free because of their fantastic help and guidance.

CCCS showed us where the fee charging company were way off with their sums, reorgansied our debts for us and even put us on low start repayments for 6 months so we could get straightened out.

Also, the money you are paying Debtmatters as a fee is money that could be used to reduce another debt more quickly
I can't praise cccs highly enough. ring ring ring....

Recycler