Well my wife & I are about 3 payments into IVA and hadnt really had too many issues so far. We it would be tight each month and some months would be tighter than others.
This month has brought me to my knees, after a couple of smaller car bills we have next to nothing left in the account and still 3 weeks to go to payday. Now it looks like the turbo has gone on my car. Best scenario it will be a couple of hundred quid, worst over £500. Its going into the garage tomorrow to be looked at. Ive put my fishing gear on gumtree but ill be lucky to get £150 for it and I'll cry seeing it go ( sad i know ). So obviously we're struggling to the end of month, still have shopping etc to do.
Then to really make things difficult, both cars tax are due at the end of the month. total £195 for 6 months for the 2. right before christmas. Even if payplan gave us a payment break, which i really dont want to do our do its £125 so barely scratches the surface really. We both need our cars for work so stuck there. And just the thought of our ageing cars lasting for the next 5/6 years is scarey!
It may be better to get a proper payment break of 6 months to get yourself back on track as you should not be struggling this much so early in the IVA. Speak to Payplan and see what they say but unless something is done soon the IVAs are doomed to fail and it would be pointless continuing to pay.
When faced with such extenuating circumstances I would advise that you speak to your Supervisor as they will be in the best position to review your case and advise you of your available options. Have as much information to hand when discussing this with your Supervisor e.g quote for the work to be carried out on your vehicle and the cost of the work that has already been carried out. As you have not been in your IVA long, when speaking to your Supervisor, stress that you have not had sufficient time to put aside the funds to pay for the car tax that will be due. Your Supervisory is there to help you through trying times whether these fall at the start of your arrangement or later on so that you can overtime successfully complete your IVA. Usually, if your IVA is a standard protocol IVA proposal, the Supervisor will allow for a 6 month payment break and a potentially a further 3 months missed payments if necessary. Although you are only entitled to use a 6 month payment break facility once during the term if some other unexpected circumstances were to occur at a later date you can discuss this with your Supervisory who may be able to go back to your creditors to agree further missed payments. I would advise you call your Supervisor today and hopefully this hurdle won’t be that difficult to negotiate when you work together.
I cant help but wonder if your income and expenditure has been set right if you are struggling this much at the early stages. May I suggest asking your supervisor to go through your full outgoings to check that your IVA monthly payment has been set correctly? Good luck:-)
im not sure this will be much help but have you checked your budget thoroughly enough and ensured you have allowances for things? We looked at payplan and werent told anything about guidelines so were given the suggested iva payment as £700+ a month. Found forum and got talking to another company and now pay a more realistic and affordable payment (less than £300). I cant help but think if wed gone with PP that we'd have failed by now because budget wasnt right. I know you cant change who iva is with but im not sure where you stand reviewing your budget and checking its affordable. Im sure you shouldnt be struggling this early on.
im not sure its so much to do with our income & outgoing, I think its mainly because its so close to the start of our IVA so not really managed to -save anything toward the car tax's then to get lumbered with a minimum £500 garage bill. I have scraped about £100 to the side over the last couple of months so probably could have manaqed the cartax's without the surprise garage bill. PP have said we could take a hol payment at the end of this month, so thatll help a bit
