Is it possible to miss one payment of IVA ?

[Robert.Sn]

Hi,
I have been the IVA now for 18 months and would like to know if its possible to miss 1 payment as we are struggling a bit and would give me a boost in funds. Is this possible or is it not allowed as part of the conditions of the IVA ? Thanks for your help..

Regards

Robert.

[ginger3232]

welcome the forum - if you are sruggling to make payment - you need to speak to your IVA company ASAP - perhaps your I+E has changed or there has been extra expenses.

If you take a break from payment - it has to be with agreement, and a good reason to - and chances are they will add the payment on to the end.

[luluj]

it is possible to miss a payment but it has to be in agreement with your IP.
The likelihood is that they will want to review your IE to establish why you are struggling - if so be honest with how things are right now ...the more honest you are the more support they will give !

[kallis3]

We're about to miss one of ours due to hubby going onto state pension. We have informed the IP though.

[plasticdaft]

Its possible but as others have said you shouldnt be struggling. The cost of living is shooting up so maybe a review of your i&e is about due.

Paul

[zarron]

missed payments are usually permitted to purchase essential items like say a new cooker or fridge or urgent car repairs. if its needed just to boost your income maybe your I&E does not a review though. missed payments are then just added onto the end of your agreement. i missed about 7 of them during my IVA with Payplan and they were fine with them. they just wanted to be told what i was going to use the money for.

[kallis3]

We are missing ours due to a change in income which should have been picked up before now but wasn't. we will sort it though.