we are in the 14 month of our IVA our central heating boiler will need to be replaced this year, the amount of "emergency fund" is no where near what is needed to replace it, please could you advise how we could go about funding this
Hi I've just had to have a new boiler, luckily I could borrow the money up front from my son and paid him back over 3 months missed IVA payments which was sanctioned by my IP. Speak with your IP and hopefully you'll find a way forward. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
If you have exhausted all other areas of funding - including friends and family - speak to your IP who may be able to arrange for a short payment break to fund this. They may need you to get a gas engineer's report to back up the need to replace the boiler, but better to address this in advance than wait until the winter when it does fail and then be stuck for funds. Expect the IVA to be extended by the equivalent of the months you are allowed to miss.
Thanks Melanie sound advice. We may be able to borrow money from family but probably not without making a small payment each month, so if this isn't acceptable to IP then we will probably have to ask for 3 months payment holiday a new basic new boiler plus fitting quote of £1500!
Thanks Broke of London. Hoping to get it done in the summer.
Had a bad day today feeling like it's all getting to me, but then I have to stop and say to myself better to be in the position than the position I was in 2 years ago when I couldn't sleep at night, dreaded hearing the post drop on the mat and the phone ringing constantly....i guess we all have a bad day from time to time!
