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Posted by Lucy-H : December 7th, 2007

New job and my IVA repayments

Hi

Recently, I was made redundant from my job which has affected me in a bad way when it come to paying bills and paying off any existing debts that I have. I have found another job in the industry that I want to work in, but the only downfall is that I am not getting the same salalry as my previous, in fact, the salary is lower than my previous job, I decdied to take the position because I need to pay household bills, debts and my IVA.


could someone advise on what happens if you need your IVA payments decreased?

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Hi Lucy

What you would need to do is speak to your IVA company. Depending on your situation the company dealing with your IVA should be able to look at your new circumstances to see if an IVA is still the best way forward for you. If this is the case then they should re calculate the figures for you so that the new payment is an amount you can afford to pay based on your new circumstances. I hope that this helps, Good luck
Posted by: debt answers