If you fail to make payments into IVA..

[no money eva]

because of a relationship breakdown would the IVA company make you BR or would you have to do this yourself, or would a variation meeting to reduce payments take place. I pay 267.00. What is the minimum that you can pay into the IVA.

[Blair Endersby]

it depends on your circumstances. If you default in payments the supervisor will ultimately have to call a meeting to decide what to do. If funds are available creditors may direct the IP to petition but they may also just ask for the IVA to be failed.

If you can only make a reduced payment then the supervisor can call a variation meeting to get creditors approval.

There is no mimimun set, it is what you can afford versus what creditors will accept.

As in all cases the best person to contact is your supervisor who can give specific advice on your best course of action.

[no money eva]

Thanks for that.

[MelanieGiles]

It really depends upon the terms of your individual voluntary arrangement. A lot of proposals do not require the calling of a meeting of creditors to ascertain wishes - they allow the IP to immediately petition for bankruptcy in the event of a default which cannot be rectified.