I'm currently into the tenth month of the third year of my iva. I have been on sick leave from work following myocarditis and heart attack. I am also awaiting a laparoscopy following abdominal pain. I'm still quite ill and don't know when I will return to work. I only receive statutory sick pay which barely lets me survive. I'm living
with my girlfriend since the heart attack in August 2013. I have no assets. I have missed four iva payments. Can you advise on what I should do?
Hi. First advice is to contact your IP for a frank chat right away --- you are in danger of breaching your IVA, which you do not want to happen at this late stage. You need an agreed payment break to allow you time to regroup and to think. Hopefully you IP will agree to look on this as covering, at least in part, the missed payments as, normally, three missed would fail the IVA.
According to your prognosis your IP might consider putting forward a variation to end your IVA on payments made to date.
Speak to him or her as soon as you can.
Who are you with ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
do talk with your ip, I know its hard making the phone call. But unless you do you ip can't help.
there are ways of moving forward, but you wont know which is the best way forward until you let them know.
There are lots on here, that have needed there ip help dueing there iva and in most cases have got the help needed.
IVA now over with and it was worth it.
now starting my life again,
from personal experience , albeit it several years ago , I was several paymnets behind for an altogether different reason to yourself and DFD where superb at the time; im led to believe most IVA providers are for genuine cases like yours.
Contact them Monday and im sure they will do their best to work through a solution; if you dont contact them, they may think you are just not paying
Good luck , hope your health improves in time and best wishes for the future and new year of course
Last payment made April 2012
Certificate received 1st Nov 2012
Many thanks for all your advice guys. What I should have mentioned is that from the first day of Sickness and the first installment from my IVA I was unable to make I emailed my Insolvency Practioner and attached doctors and hospital sick notes. I have read receipts from them but no views or concerns from them. Maybe I should call them on Monday.
I would hope to continue with my IVA when I eventually can return to work although some of my collegues and family believe it is now the time to go bankrupt due to my health problems.
All the best to you all for 2014 and many thanks once again.
Well if you have proof they have read your emails then they shouldn't fail your IVA until they have discussed your case.
I would do as Foggy suggests and ask for a variation meeting to consider ending your IVA early. It would be better than considering bankruptcy. If your creditors refuse then you can consider it then.
Hi -- as Kazza says, try the F&F option first and that will conclude the IVA successfully there and then. BR is a fall back position if the creditors dig their heels in --- but don't jump first.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi guys,
I have had contact with iva practitioner and they are going to seek a meeting with creditors. I need to get some kind of estimate of return to work and need to show my current pay receipts to confirm statutory sick pay.
I know I shouldn't have but I've had a mail order account whilst I've had my iva as I had no means of buying necessary household items. Apart from making small instalments. I've also been so desperate to keep my head above water I've borrowed £400 to pay towards my phone, food etc. I ain't informed my insolvency practitioner as yet as I was hoping to return to work but that now seems a long way off. The mail order people are now starting to demand. Here we go again. I vowed I'd never get into another situation as before but my health has intervened. Any other suggestions or help would be grately appreciated.
