Out boiler has broken [:(] . We don't have any savings to get it fixed, or get a new one. I have a IVA my partner doesn't but he can't afford a new boiler on his own
So option one is get one through gas supplier at a APR rate of around 30% - would the IVA allow this? and could I reduce my monthly IVA payments to accomdate this new payment??
OR i have paid in a lot of extra to the IVA with bonus and overtime money. Can you get this back in a emergency?
We think it could cost about £300/£400 to get it fixed and could only give us another years life - so we are tempted to just get a new one!!!
I've contacted the IVA people but still awaiting a response so just wondered if anyone had been in a similar situation???
HI Lolly,
I'm sorry to hear about your boiler, Lesley on the forum had a boiler problem & had to take a payment break to get it sorted out.
You won't be able to take further credit out & reduce your IVA payment to accommodate this. The extra money you have handed over will not be able to be returned as you have had your percentage of it.
You will be able to take a payment break & you are allowed 3 in a IVA, you will need to run it past your IP whom I'm sure will understand as these things do happen. You can repay your payment break by adding it on to the end of your IVA, or paying extra over a few months.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
I've not had a payment break yet. But the problem with this is I can't get the boiler fixed straight away! I would have to have the break for 3 months say and could only then get the boiler fixed after this time. Its a nightmare at the minute as I have no hot water or heating so washing up and drying cloethes its impossible!!
I wouldn't get the credit if we did go through the gas supplier - my partner could do that BUT I would obviously have to help out with monthly payments! Woiuld i be able to reduce monthly payments in that instance.
In regards to the payment breaks, and being allowed 3? Is this just 3 months, or 3 payment breaks at varying lenghts of time depending on the situation?
Hi, I would speak with your IP about this, my husband and I are both in an IVA so a payment break for us was vital as it was October time and I had no heating/hot water either.
I had a new boiler from 3 months break.
Speak with your IP and tell them what you've told us and hopefully they can help, I lived without hot water for so long so totally empathise and know it's not nice. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I agree with Lesley, contact your IP tell them what you have told us & I'm positive they will understand. Your IP can grant you 3 month break so you can sort the boiler out, as Lesley has done.
I doubt you would be able to reduce your payments to help pay for the credit your partner takes out.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Your IP may sanction credit for this and should understand that the agreement would not be in your name. If you have been paying in extra money any minimum dividend requirement will be met and at worst creditors could be asked for their opinion.
If you were my client I would not hesitate to authorise a payment break to cover these costs - so long as you could demonstrate that you have explored all other routes to funding including soft loans from family and friends. Be prepared to make increased payments over future months to see the arrears paid off as quickly as possible.
