By December this year I will have paid £15,000 in to my IVA + approximately £500 - £700 in extra payments. My original IVA was for £26,880 and my original debt c£37,000 (though all the original debts have been sold on). Come December I will have two years and two months left on the IVA. Based on the...

With regard to bankruptcy - if my IVA fails due to my possible refusal to offer an extension, is there a chance that an application for bankruptcy could be rejected? I have c£37,000 worth of debt, no assets and from January a monthly take home of c £1350?

Thank you - what is worrying me in this matter is that the IP is saying I risk the creditors rejecting the new repayment and the IVA failing. At this point the IP says they could back date interest on the original debt back to when the IVA started, which means that I would have wasted another two ye...

Having advised my IP of what you have said, they are still suggesting that I offer an extension of between 10 to 12 months extension as Eversheds apparently have a record of rejecting any reduction in payments out of hand. I feel I have no choice but to comply with this advice, though whether I can ...

Thank you for your time - I am now reassured that what I am asking from my IP in this matter is not unreasonable.

Thank you for your reply. No, the wage decrease is due to an enforced shift change. I understand the need to pay back the sum agreed in the IVA. My annoyance is with the IP's insistence on immediately offering an extension to the IVA without any negotiation with the creditors beforehand or even seei...

I have just posted my expense and income form for my 2nd annual review. My wages will be going down in January and my IP has informed me that an extension is likely. There has been some discussion regarding this as my original debts have been sold on. i have researched this and been informed that co...