failed to make my first payment

[starboy]

hello can you give me some advice.i have faild to make my first payment on the i.v.a i am shaking to find out what will happen

please can you give me an some advice

[freelili]

Hello starboy and welcome

From what I understand and that isnt much, an IVA is failed if 3 payments are missed. Can you say why you are having such difficulty so early on? Please do not worry, something might be worked out by your IP, it would also help to know what company you using, has your IVA actually been agreed by your creditors or are you just starting the process.
I am so sorry you are feeling this way, but I am sure one of the experts will be along to help you through this.

Take care for now

LILY

[MelanieGiles]

Hi starboy

Can I ask why you failed to make your first payment? This is not a good start and you should really try to address this as soon as possible. Lily is correct about the 3 missed payments, being a usual term of IVA's, but do check your own proposal to be sure.

Try not to worry about this, as I am sure your IP will advise you what to do, but do try and not miss any further payments, as this will suggest that you cannot afford to do the IVA and then perhaps bankruptcy is a better option for you.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk