If you are in an IVA you may be able to ask for a payment break, reduced payments etc. until you are able to find more work.
Most IP's should be sympathetic and work with you through this.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Thank you for your replies - I am two and a half years into my IVA have paid £4,500 and owe £4,500 l have two private pensions which I did not disclose as I thought they were worthless! now valued at £12,500 which I could withdraw next month would it possible to ask for half to be paid as full and final and the other half to live on until l find work or would I be expected give them the full amount ?
If you have 30 months left then work out oa f&f on 30 times your normal monthly payment.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
If pension funds and proceeds were excluded in your arrangement then you could make the offer, if not then any draw down would be payable into the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Only you know your personal circumstances - I'm in my final year now and would still pay early if I could to just get it over and done with.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
It should be easy to get a payment break but you could offer some of the pension funds. Justr make sure and do not draw down the money unless approved by creditors.
