I have 2 more months to pay in my iva but have fallen into rates arrears while in my IVA (my husband lost his job over 2 years ago and hasnt been able to find one since). I had a meeting with EJO and they had said they would accept 50 per moth but havent contacted me yet. I have been contacted by my IP to say that I need to provde evidence of this which when i contacted EO they have said it will take 3 more weeks. My IP has said they are going to petition for bankruptcy. Is this likely? I have to make another payment in my IVA next week but if they are going to make me bankrupt will i bother?
hi and welcome, so sorry your post has been missed. If you have only 2 months left to pay in to your IVA, it would seem very mean to petition for bankruptcy. Can you ask for a payment break to catch up on the rates arrears and then, recommence payments to your IVA?
Talk to your IP, inform them of everything, I'm assuming they know your husband lost his job?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Is your IP Payplan by any chance? They seem to do this a lot and you can tell them to remove anything to do with that.
It would cost them a lot of money for them to make you bankrupt so I doubt they would.
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
This is a breach but it seems extreme to bankrupt you so late in the day. Seek a meeting with your IP and try to get a break so the EJO can be paid. Given the history creditors may even close the IVA down based on payments to date leaving you only LPS to repay. If your IP is adamant on bankruptcy there is little point in paying anything including the EJO/LPS but hopefully this can be avoided.
With only 2 months to go, can't you ask a dear friend or relative to help out and send the overdue payments ? So it can all be closed down ? Would be awful to fall at the final hurdle.
Could you ask Ask for settlement based on payments to date due to change in circumstances (loss of employment)more alternatively a revised extension period at a reduced rate that will cover the arrears ?
Surely IP worth their salt would agree to that ? Do it all in writing though so if they mess you about you have an audit trail (email and or recorded letters).
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
