I recently separated from my wife - no children. I am 60 and just been declared unfit to work anymore. we both have IVAs but my former wife is still working part-time. I am about to miss my 3rd IVA payment and seem destined for bankruptcy. I don't mind about this but worry about a payment order when I only have benefits coming in and have to find a rental home.
I agree with Niobe, benefit payments are not included as disposable income in BR, but speak to your ip as they may be able to advise you. How long have you been in an IVA? You may be able to have payments made to date as full & final to end your IVA early. X
I spoke to IP a few weeks ago but they seem to want to bend over backwards to keep me paying them in some way, maybe its the £1,300 a year they make out of the IVA. I've been in the IVA for 18 months. I just can't cope with the worry anymore and just want it to stop.
If you are not fearful of bankruptcy, and have no assets to protect, this would seem to be your best option. You will only pay what you can realisticaly afford by way of an Income Payments Agreement or Income Payments Order, and as you are on benefits I would expect the Official Reciever to be relatively generous in this regard. No point in trying to continue an unworkable IVA if your heart is no longer in it.
