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Andymav
IVA Junior

United Kingdom
105 Posts

Posted - 22 May 2009 :  20:26:16  Show Profile  Reply with Quote
hi all just wondered my wages are going to be fluctuating over the next 4 to 5 months due to me having to have time off from a serious injury at work last year what can my ip do as i will not be able to make my regular amount into my iva as my wages will be deducted and could result in redundancy in october

Andy

ivas4us
IVA Artisan

ivas4us

IVA completed.

United Kingdom
1850 Posts

Posted - 22 May 2009 :  20:27:29  Show Profile  Reply with Quote
you may be able to get a variation.

IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
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kallis3
Moderator

kallis3

IVA completed.

United Kingdom
66038 Posts

Posted - 22 May 2009 :  20:28:11  Show Profile  Visit kallis3's Homepage  Reply with Quote
Hi Andy,

I think you need to have a chat with your IP. They may be able to lower your payments temporarily, and if you are made redundant you may be able to have a payment break for a while till you get a new job.

http://kallis3.blogs.iva.co.uk/

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. Ulysses S. Grant








An iva.co.uk mentor,is someone sharing from their experiences of dealing with debt





Jan
xx
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Julie
Moderator

Julie

United Kingdom
10166 Posts

Posted - 22 May 2009 :  20:29:32  Show Profile  Reply with Quote
How long have you been in an IVA Andy?
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Andymav
IVA Junior

United Kingdom
105 Posts

Posted - 22 May 2009 :  20:33:49  Show Profile  Reply with Quote
i have been in my iva for about 2 months but my symptoms seem to be affecting my job and im in a situation when if i have time off it will be deducted until i win my claim case for industrial injury i dont own any assets of any kind would going bankrupt be a better option

Andy
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kallis3
Moderator

kallis3

IVA completed.

United Kingdom
66038 Posts

Posted - 22 May 2009 :  20:38:39  Show Profile  Visit kallis3's Homepage  Reply with Quote
I would speak to your IP firstly and tell them of the situation. You wouldn't be able to go bankrupt yet anyway as you need to miss three payments on the IVA so that it fails.

It is an option, but be guided by your IP at the moment.

http://kallis3.blogs.iva.co.uk/

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. Ulysses S. Grant








An iva.co.uk mentor,is someone sharing from their experiences of dealing with debt





Jan
xx
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ivas4us
IVA Artisan

ivas4us

IVA completed.

United Kingdom
1850 Posts

Posted - 22 May 2009 :  20:39:37  Show Profile  Reply with Quote
It may well be the right option for you. I am sure one of the experts will offer better guidance though.

IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
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Julie
Moderator

Julie

United Kingdom
10166 Posts

Posted - 22 May 2009 :  20:46:11  Show Profile  Reply with Quote
as you're in an IVA you need to discuss this with your IP - who are you with?

Did you tell your IP about your injury? BR is an option but you need to make sure its the last resort.
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MelanieGiles
IP

MelanieGiles

48264 Posts

Posted - 22 May 2009 :  20:48:11  Show Profile  Visit MelanieGiles's Homepage  Reply with Quote
Did you discuss these difficulties with your IP prior to entering into the IVA Andy?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years. Owner and Director of PJG Recovery.

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

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Andymav
IVA Junior

United Kingdom
105 Posts

Posted - 22 May 2009 :  20:54:18  Show Profile  Reply with Quote
the ip is aware that i have an ongoing issue with my injury but its recently been getting worse my symptoms im in and out of hospital my injury is one of the reasons i got into debt in the first place so they are well aware of it

Andy
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Julie
Moderator

Julie

United Kingdom
10166 Posts

Posted - 22 May 2009 :  20:55:49  Show Profile  Reply with Quote
Thats good your IP knows about the injury Andy. Would your injury prevent you from getting employment in the future?
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Andymav
IVA Junior

United Kingdom
105 Posts

Posted - 22 May 2009 :  20:58:03  Show Profile  Reply with Quote
well im not sure really it might be putting off to an employer so yes i suppose if ya look at it a potential employer might not be keen in hiring someone who might have to have time off sometimes it does affect me quite bad sometimes

Andy
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Andymav
IVA Junior

United Kingdom
105 Posts

Posted - 22 May 2009 :  20:59:57  Show Profile  Reply with Quote
problem i never know when im gonna be off or for how long so im very confused at what to do if my monthly take home is too low i wont be able to pay my iva aswell as eveything else so u can see the problem

Andy
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Julie
Moderator

Julie

United Kingdom
10166 Posts

Posted - 22 May 2009 :  21:05:22  Show Profile  Reply with Quote
Certainly can see your problem and sympathise Andy, hope the injury doesn't cause you to much pain.

You really need to talk to your IP and see what they suggest -who are you with?

We can support and advise you, please don't worry too much, there will be a solution.
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Andymav
IVA Junior

United Kingdom
105 Posts

Posted - 22 May 2009 :  21:11:15  Show Profile  Reply with Quote
im with bridgestones they have been very good actually but i will talk to them on monday

Andy
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David Mond
Forum Expert

David Mond

United Kingdom
1941 Posts

Posted - 23 May 2009 :  06:46:30  Show Profile  Visit David Mond's Homepage  Reply with Quote
quote:
Originally posted by Andymav

hi all just wondered my wages are going to be fluctuating over the next 4 to 5 months due to me having to have time off from a serious injury at work last year what can my ip do as i will not be able to make my regular amount into my iva as my wages will be deducted and could result in redundancy in october



Was this known at the time of your IVA? Did you not discuss this with the IP (his/her staff) at the initial stages?

What fees did you pay in advance to whomsoever at the time you were looking into doing an IVA?

If all of this has now blown up - then a payment break or reduction might be appropriate until any compensation is received or until you are fully fit.

Regards, David Mond, Insolvency Practitioner for over 43 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine.



See my blogs: http://mondo69.blogs.iva.co.uk/

Edited by - David Mond on 23 May 2009 06:48:36
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kallis3
Moderator

kallis3

IVA completed.

United Kingdom
66038 Posts

Posted - 23 May 2009 :  08:46:16  Show Profile  Visit kallis3's Homepage  Reply with Quote
I think it is known to the IP David, at the time Andy was proposing his IVA he was also looking at bankruptcy which may be an option for him now if his symptoms are going to get worse and he ends up out of a job.

At least the financial side of things would be taken care of.

http://kallis3.blogs.iva.co.uk/

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. Ulysses S. Grant








An iva.co.uk mentor,is someone sharing from their experiences of dealing with debt





Jan
xx
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Julie
Moderator

Julie

United Kingdom
10166 Posts

Posted - 23 May 2009 :  10:00:31  Show Profile  Reply with Quote
quote:
Originally posted by Andymav

the ip is aware that i have an ongoing issue with my injury but its recently been getting worse my symptoms im in and out of hospital my injury is one of the reasons i got into debt in the first place so they are well aware of it



The IP does know. David, as Andy has only been in the IVA for 2months, shouldn't this have been considered?..and would a payment break be an option?

Edited by - Julie on 23 May 2009 16:17:39
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David Mond
Forum Expert

David Mond

United Kingdom
1941 Posts

Posted - 23 May 2009 :  17:40:05  Show Profile  Visit David Mond's Homepage  Reply with Quote
I personally believe a payment break would be an option - I am concerned though as to why Andymav with his condition and problems at work would be doing an IVA and question who advised him in the first place to go this route?

Regards, David Mond, Insolvency Practitioner for over 43 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine.



See my blogs: http://mondo69.blogs.iva.co.uk/
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Julie
Moderator

Julie

United Kingdom
10166 Posts

Posted - 23 May 2009 :  17:45:18  Show Profile  Reply with Quote
Andy's with bridgestones David, I didn't know if you could have a payment break if only 2 months into an IVA.
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MelanieGiles
IP

MelanieGiles

48264 Posts

Posted - 23 May 2009 :  17:55:42  Show Profile  Visit MelanieGiles's Homepage  Reply with Quote
A payment break can be arranged at any time for the right reasons Julie.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years. Owner and Director of PJG Recovery.

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

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