I write to advise that I have had an IVA since 28 Jan 2008 and it has been working very well and I have never missed a payment. Sadly on 27 Feb this year I was made redundant after 8 years as a PA Secretary and since that date have tried unsuccessfully to find a full time permanant job despite contant searching online and agency visits. I advised my IP immediately I was made redundant and asked if I could still continue to pay my £361 IVA payment every month whilst I looked for work and it was agreed and I have done. However, despair is looming and after October will not have any money left to pay my IVA if no job. I have never been out of work in my entire life and it is causing me great anxiety. I live with my father who has never had a debt in his life in rented council property and pay towards rent/bills etc. I do not have any assets of any kind i.e. car, savings, jewellery etc.
Sorry to make this a long question but I don't know where to turn if I don't get a job - any job.
I am so sorry to hear of your redundancy - a day does not go by when one of my clients isn't telling me the same thing.
You could always ask your IP to see if creditors will agree to a longer payment break - I personally have varied some of my clients for up to 12 months - until you find new employment.
Hope it all works out for you and best of luck with the job hunting.
rather than wait any longer i would ask for a payment break now,say upto 6 months while you continue to look for work.any payment holidays can be added to the end of your iva,like melanie said normally upto 12 months.as a last resort bankruptcy could be a option in the future, if you have no income then all your debts could be written off.speak to your ip sooner rather than later good luck keep us informed.
Thank you all for your responses. I will let you know the outcome. I will give it another 2 weeks and if I don't have any job prospects by then will speak to my IP. Incidently, my original company have been taken over by another firm and I have a new IP who I have never spoken with as yet.
So sorry to hear that you have lost your job. I hope you manage to find another one soon.
I agree though that you need to find out if you will be allowed to take a payment break if needs be.
Can I ask who your IVA is now with?
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
I was initially with Wilson Philips in Blackburn when IVA was drawn up in 2008 but received letter from Grant Thornton (Belfast) over a month ago to say they have taken over since May.
I thought that might be the case, and I echo Melanie's post - you are in safe hands with GT.
Good luck with the job search.
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
Janettec, please excuse me for sticking my nose in,i was also made redundant in April of this year,still no job,get in touch with yiur ip for payment break now,you dont want to find you run out of money and your iva to fail after all the hard work you put in to get accepted.It is a very difficult job market out there at moment,speaking sadly from experience.Good Luck
