we are currently on an iva, we started it last year, since then our payments have gone up due to my husband working trying to make ends meet, so we was in a no win situation, for him to do less hours and struggle or more hours and just get by, then they want more money. our situation again has now changed, and the iva company says that we can still pay the full amount, i am on jsa and my husband job looks very unstable he is doing 20hrs per week, no over time, and he could loose his job because of the ecomnay, what can we do, as it seems they are pressuring us to pay it or pay more. we thought about bankcupty but we wouldnt be able to afford the fees, we cant get any help from any where for additonal finances
Sorry to hear of your struggles with your iva, I think lots of people are funding it hard with all the rises in bills, food, etc.
Have you spoken direct with your IP about this as you may find they can help.
If you were to consider bankruptcy, you could stop paying your iva to get the fees but I would not advise this until you have have a good talk with your IP and gone through everything to see if they can help keep you in your iva as it is in no ones interest for it to fail.
A lot of expert IP's post on this forum, so wait around and I am sure they will offer professional advice and try to help.
Good luck
Emma
Be positive & look after yourself, there are more important things in life than debts....
First and foremost you need to contact your IP directly and tell them exactly what is happening. An IVA should be a reasonable tool to solve a debt problem and not an excuse to make life impossible. Your IP has a duty to listen and respond to your concerns in order for the IVA to continue, noone wants it to fail. My advice is to email your IP directly and list your concerns. If an agreement cant be reached then BR could be funded by missing IVA payments, however not all courts will automatically grant a BR order after an IVA.
Hopefully one of our professional experts can advise further.
It sounds like you have a pretty unsympathetic IP acting for you, but they may not fully understand your circumstances, so do try and arrange a meeting with them to see if anything could be done to reduce your payments at the moment. Do you have any assets which could be at risk under bankruptcy proceedings?
If you were to want to seriously consider bankruptcy proceedings, you could stop paying your IVA payments in order to save up the money to pay for the Court fees - but if you are going to do that do let your IP know
It is possible for 1 IVA to fail and then for a second to be put forward, but there needs to be chapter and verse on why IVA No 1 failed.
Frankly my preference would be for you to ask your Supervisor to promote a variation based upon your now reduced circumstances. My perception here is that you have yet to talk to the organ-grinder and that, if you did, you may well get a =different response to that which you are currently getting.
Phase 1 must be for you to e-mail the IP directly. If you don't know the e-mail address Do a search here:
