can anyone tell me what happens if you apply for a months break and it is approved/ does the amount get added to the end? does it mean the IP has to call a creditors meeting(although I know its not actually a meeting aS SUCH)?does the amount just get deducted if you have paid way over what was agreed so far due to doing overtime etc
if you have a repayment break approved does it mean you have defaulted
You can ask for a payment break but its not guaranteed to be agreed to.
It would all depend on your reasons for wanting the break and yes the money could then be tagged on to the end of the term.
One month missed will not affect your IVA and creditors permission is not required. The missed payment can be repaid by increasing your remaining payments or making an extra payment at the end. Only when at least two payments and realistically three are missed will it become an issue. Speak to your case manager and provided your reason is valid there should be little problem.
