www.iva.co.uk

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.

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.

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 !

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

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

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.

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.