arrears with my IVA a deep black hole,

[gavin_r]

I am in arrears with my IVA. And I am looking into a deep black hole. I am about 6 months in arrears. And i have been burying my head in the sand. What options do i have

[rayb]

It would be more helpful if you could provide your full debt details and amounts and we can try and help you from there. Is bankruptcy an option for you or do you own home

[aguise]

Hi Gavin and welcome.
Speak to your IP asap and see if there is some way that you can pay the arrears back. Maybe with some payments added to the end of the iva or by payng extra each month. If you are struggling then again the Ip could look to calling a variation meeting or give you advice on possible options.
We have all I think buried our heads at some point, and one thing I have learned from all of this is it just makes it worse. My motto now is to take a deep breath and deal with things head on and the stress lifts.
I am not a technical expert so please wait for other answers.
All the best and keep us posted as to how you get on, it helps others who may be in the same situation.
Ang

[Martin2011]

Hi Gavin,

You can do no more than speak to your IP for advice really. What's the reason for the arrers? If it's just that the payments were unafordable because circumstances changed, then your IP may be able to agree a lower payment and as Ray suggested, add some payments at the end of your arrangement to catch up the arrears.

Very best of luck in getting this sorted...and well done for getting your head out of the sand....we've all been there!!

Martin

[chris.g]

Hiya Gavin, try to contact your ip asap if you want your IVA to carry on. If not, bankruptcy is always an option but this will mean you losing any assets that you have. There's always a solution, hang on in there,
xx