Can someone give me some advice.Been om iva for 18months at the moment me and the wife are not living togeather.Iam stopping at a mates house and paying money to him.What can i do now as we both cant pay the full amount for my iva
spoken to my ip there sayif i dont start paying the right amounti would fail my iva and the credits could come and ask for full payments.But there have not said about d/m or bankruptcy
Is the IVA just in your name Starboy? If so, then that is probably why the company have said you will default if you don't pay. Not very sympathetic if you are having problems.
Have you asked for a payment break while you sort yourself out?
If they do fail you, then yes, the creditors will start chasing you again and all interest and charges will start again.
Speak to them again and mention about a DMP or bankruptcy and see what they suggest.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi
I would guess that you have only spoken to front end staff, your actual IP will be more understanding.
Well I would hope so
Have another word with your actual IP
Regards
If you are having difficulties making the full payments to your arrangement, which is not surprising really considering your changed circumstances, then, as long as you are able to make an alternative offer to your creditors, the Supervisor of your IVA is able to return to the creditors and ask them to accept a reduced offer. He or should not dismiss your problems out of hand as he or she appears to have done.
As Andy says speak to your IP directly if you are not getting any help from his or her staff.
Kind regards, Elizabeth Pywowarczuk, Insolvency Practitioner.
If you would like me to advise you about an IVA and if appropriate propose one for you, please visit my website at www.liberta.uk.com
Spot on Liz - Your IP should (a) be sympathetic and (b) suggest alternatives, provided you are able to offer something reasonable. good luck.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
