Dealing with the unexpected during an IVA...

[ordinary_world]

Hello all,
Apologies I've not been on the forum for a while, work has been very hectic.....however I've kept my eye on a few threads here and there and I have the utmost respect for those experiencing insolvency and doing something positive about it (by contributing to this site!). Good to be back!

Our IVA was accepted back in July 07 and things have been relatively hard but manageable. However, we've had a bit of bad luck this week in that my car blew up in flames on the motorway and was totally engulfed by flames. Sooo, this has left us in a difficult position financially (i.e. additional travel costs to work, deposits for hire cars, excess and having to purchase another car). We're concerned this may compromise our IVA as things are really tight.

I would be interested in hearing from others who have experienced similar challenges whilst in their IVA and how they were (or were not) overcome.

Best wishes



OW

- 'I wont cry for yesterday 'cause there's an ordinary world somehow I have to find...'

[Cybus]

Whilst I have not experienced what you have, I would urge you to contact your IP as soon as practicably possible and advise of your predicament. They should be able to offer you advice on this current situation. It may well be that they can offer you some lea way with contributions ... but don't make adjustments to the contributions off your own back without telling the IP.

Tell it like it is.

[ordinary_world]

Many thanks Cybus.

Yes, I informed my IP on the day it happened and just waiting to hear back. Hopefully there'll be some flexibility should we need it.

Just interested in what others had experienced in similar circumstances.




OW

- 'I wont cry for yesterday 'cause there's an ordinary world somehow I have to find...'

[emma_t]

Hi
Not been in the sam situation as you but just wanted to say glad you are ok and I hope your IP can offer some flexibiliy to help you out due to this unexpected event.
It must have been very frightening for you
Best wishes
Emma x

[ordinary_world]

Many thanks for your kind words Emma. Yeah, it was quite scary - luckily I managed to manoeuvre the car to safety and escape before the car was totally engulfed in flames! I'm surprised this has happened as I had kept it fully serviced, MOT'd etc and dont expect this type of event to occur. Now just gotta deal with the financial impact

Best


OW

- 'I wont cry for yesterday 'cause there's an ordinary world somehow I have to find...'

[MelanieGiles]

Your IP will allow you miss a payments or two to pay for essential car repairs or even to source a replacement vehicle. They will be in touch soon!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[ordinary_world]

Ok, thanks Melanie. Although its beyond repair, its a burnt out shell! I'm gutted!




OW

- 'I wont cry for yesterday 'cause there's an ordinary world somehow I have to find...'

[MelanieGiles]

Go ahead and get yourself a replacement as soon as possible.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp