Hi. How will change of job affect my IVA ?

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Briandm54

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Post by Briandm54 » Sun Sep 25, 2016 11:57 am
Hi i lost my job and informed my iva and was put on payment breaks but now my mam has had a stroke and been told has alzhimers but she looked after me dad who is very poorly so l become full time carer for both but only get cerer allowence for one how will this affect me iva only 1.5 year left
 
 

kallis3

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Post by kallis3 » Sun Sep 25, 2016 12:14 pm
Hi and welcome,

So sorry to hear of your problems.

You need to speak to your IP company and explain the position and ask if your IVA can be closed down with payments to date due to the circumstances.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Foggy

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Post by Foggy » Sun Sep 25, 2016 12:59 pm
I agree with Kallis. Have a chat with your IP and see if the creditors will accept payments made to date and close the IVA. At the very least they could reduce payments if closure isn't acceptable. Certainly worth discussing.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Michael Peoples

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Post by Michael Peoples » Sun Sep 25, 2016 10:14 pm
Creditors are normally sympathetic so I agree with the others. If you have any back up information it will help but your IP will be able to advise further.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Chris Whiteoak

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Post by Chris Whiteoak » Mon Sep 26, 2016 10:58 am
It would also be worthwhile speaking to the Citizen's Advice Bureau to confirm you are receiving all of the income, benefits and support you are entitled to.
 
 

Lisa Thomas

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Post by Lisa Thomas » Mon Sep 26, 2016 4:28 pm
See if you can put forward a variation accepting payments to date in F&F or significantly reducing your contributions to whatever you can now afford.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Briandm54

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Post by Briandm54 » Mon Sep 26, 2016 5:15 pm
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Michael Peoples

Creditors are normally sympathetic so I agree with the others. If you have any back up information it will help but your IP will be able to advise further.
 
 

Briandm54

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Post by Briandm54 » Mon Sep 26, 2016 5:23 pm
I only get 250 month to live on with carer allowence so how can u pay reduced iva payment out of that
 
 

kallis3

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Post by kallis3 » Mon Sep 26, 2016 5:58 pm
Speak to your IP and explain all of this - ask them to take your payments as full and final as suggested and do it asap.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Foggy

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Post by Foggy » Mon Sep 26, 2016 6:27 pm
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Briandm54

I only get 250 month to live on with carer allowence so how can u pay reduced iva payment out of that
We are not aware of the full circumstances in play here and can only give general advice and suggestions. Your IP is, or should be made, aware of what is happening in your life and is better placed to help you out.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Michael Peoples

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Post by Michael Peoples » Tue Sep 27, 2016 8:57 am
If you no longer have a surplus income then creditors will normally accept what has been paid to date as full and final settlement. If your surplus has reduced creditors will usually sanction a reduction in payments.

In your case a closure seems appropriate but as Foggy says you need to discuss this with your IP who will have the full facts of your case.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Lisa Thomas

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Post by Lisa Thomas » Tue Sep 27, 2016 9:21 am
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Briandm54

I only get 250 month to live on with carer allowence so how can u pay reduced iva payment out of that
In which case my first suggestion should apply - see if you can put forward a variation to creditors accepting payments to date in F&F and close down the IVA.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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