I am near the end of my IVA 5 years and I have had missed two months approved by my creditors. I cannot afford to pay this now and I believe the IVA will fail what is my alternative at this stage.
Can you make an extra two months payments at the end to take up the shortfall?
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
Hi and welcome to the forum. If you are having difficulties paying then you need to speak to your IP as soon as you can so that they are fully aware of your problems and that way you can come to and agreement for moving forward.
Hi, my name is Nick Payne and I am an Insolvency Practitioner with Payplan.
Read the Payplan blogs by visiting our website www.payplan.com
If you cannot restart the payments creditors may accept what has been paid to date as full and final settlement. You have nearly reached the end and no one wants the IVA to fail now.
I am sure the creditors will not allow your IVA to fail now you are so close to the finish line ! Speak with your IP and ask if you can extend your IVA by two further months to allow the money to be paid back ..... another two months of payments is nothing compared to the five years of payments you have already made !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
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
