www.iva.co.uk

I have seen a number of missed payment posts recently and was wondering where you stood if you missed a payment by agreement with your IP and paid it back before the next Chairman's report. Does this still count as a missed payment even if you ensure that you are up to date within the agreed period?

Things done with the agreement of your IP are not normally an issue. Some IVAs talk of three missed payments while others say three 'in arrears'. These are clearly different and your IP will make sure everything is in order.

You mean by the time of your next annual report, I imagine, and Michael is right - minor lapses during a year are generally overlooked and not reported to creditors.

Iv reacently missed my 3rd payment in just short of 2 years, im still waiting to hear from my IP to see whats going to happen, any ideas?

Is there a particular reason why you have missed your payments Simon?

I would speak to your IP to find out what is going on.

When we have been struggling to pay we have contacted DFD beforehand to sort things out. We have found that talking to them helps and stops all the worrying later about what will happen when you have missed a payment. x

It does pay to talk to your IP if you are struggling. They are there to help you.

No real reason, rent gone up slightly due to heating costs, vehicle fuel gone up.
Im hoping they will review my income and expenses.
They have been £383.
my new income and expenses work out to £121 surplus. maybe thats why i been struggling and missed a payment.
Iv included a copy, please take a look.
By the way, i paid 2 extra months to be able to keep 2 vehicles.

my overtime make my income to £1600

Expenses and income 16/2/2010


Rent £200
Child maintenance £300
Mobile Phone £45
Internet £25
Breakdown cover £10
Insurance (vehicle no 1) £36
Insurance (vehicle no 2) £20
Road tax #1 £18
Road tax#2 £11
Mot #1 £5
Mot #2 £5
Vehicle maintenance £35
Fuel £60
Parking £10
Work dinners £48

Pets £22
Hobbies £7
Food £160
Clothing and footwear £40
Personal hygeine £10
Hair cut £8
Dentist £7
Pocket money £5
Tools for work £100

TOTAL £1,187

INCOME (PLUS OVERTIME) £1,308

SURPLUS £121 PLUS OVERTIME

Three missed payments mean it is time for a review of your circumstances by your IP, possibly with a view to varying the arrangement. You are now probably in default of the IVA, so something needs to happen to deal with this situation.