Hello I was just wondering is there such as Iva holiday as I've paid 37 months and struggling a bit this month as I need a bit extra money ,
would the cost of the missed month be spread over the remaining 23 months if it's possible .my Iva is with grant Thornton please advise thanks
Not a payment holiday - but if you were to miss a payment this would put you one month into arrears and your IVA would not fall into default until you have missed three (subject to the terms of your own arrangement of course).
Give your IP a ring to discuss the difficulties you are experiencing and the reasons for these, and I am sure they will be able to help.
Hi and welcome to the forum. As answered by Melanie talk with your IP about your reasons for requesting a payment break and I hope this is considered for you to make things a bit easier.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Payment breaks for emergencies need to be discussed and evidenced with your IP. I've had a few over my time but always found a way to pay them back bit by bit to avoid adding any extra time on to the IVA.x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
It is interesting to know that the new 2012 IVA protocol does allow for up to three months payments holidays throughout the duration of the IVA - to deal with emergencies.
We struggled to get one at the end of last year and have had to make the payments up over the next twelve months. Initially they wanted us to do it over three months!!! If we could afford that then we'd be paying much more into the IVA than we are!!
Seems strange not to allow payments to be tagged onto the end given that it appears theres no rush to conclude an iva. Happy to let them roll on indefinately for vat and ppi issues!!!
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
