www.iva.co.uk

Last month I found it necessary to take a payment break to cover a bank cock up which left me having to make a massive payout to cover my mortgage. As this has left me needing to use this month's pay to make up payments to other parties so I will not be behind with those.

Is it possible to take 2 payment breaks in a row?


Thanks

Hi Dinosaur! Only your IP can really say for your case; but it is possible to take two months depending on the terms of your agreement.

Mine says three months is a breech. So I can take a break of up to 2.9 months without jeopardising my iva.

We are allowed three before it causes any problems but it does depend on your individual agreement.

Ok Thanks
If I did request another break would I then not be able to have another break for the remaining period of the IVA?

Possibly - it depends on how many months you can miss before being in breech. You could dig out your paperwork and see what it says.

Also, if you can repay a little of the payment break each month to catch up, then you would be able to take further breaks.

If you can make up your other payment breaks then there is no reason why you cannot request another one if you need to.

Good advice from all above. You could also make a reduced payment which would not technically put you two months into arrears so speak to your IP who no doubt will help.

You need to check your own proposal dinosaur as yours may differ from others which would allow you to take more consecutive months.

discuss it with your IP and see what options you have - hopefully they are fleixible and work with you on this.

Let us know what the outcome is and lets hope the bank don't mess up again!