www.iva.co.uk

three years into iva, cant pay. what are my options

Far too little information in your post to make any educated guess about what advice forum members can give. But, you must speak with your IP at the very least, he/she may well come up with a compromise that will work for you. Don't bury your head in the sand and think that no being able to afford the IVA is the end of the process. There are always options, your IP will be best placed to discuss these directly with you.

Depends is a short or long term financing issue:-

If you now have no income, some providers like cleardebt have Income protection schemes that will pay your IVA until such time you get employment.

If you are between jobs, you can request a payment break of up to 6 months until you find a job.

If you can still afford somme payment but not the initial agree amount you can can propose a variation to reduce your payments to an affordable level.

If you cannot foresee you ability to pay at all in the immediate term, but have good reason, you can request the IVA is closed based on payments made to date.

Otherwise if you do nothing the IVA will fail and you will be back to owning your original creditors.

Need to speak to you IP about an appropriate route.

Good luck

Best advice on limited information : Have a full and frank discussion with your IP to find a way forward.

Hi

You have paid 60% of your IVA, if it fails at this stage most of the money paid in will be lost in fees etc and you will be back to square one

Speak with your IP, it will depend on many factors but it is possible creditors will accept payments made to date as full and final settlement if your circumstances have changed with no improvement in sight

Regards

Talk with you IVA company, they will help you find a way if they can. I could not keep up my within a year of starting my IVA. a way forward was found and my iva in now over.

three years into iva, cant pay. what are my option James.46 5 99 19 March 2015 18:22:39
by: kev59
paid my final installment what happens now ? James.46 3 801 17 April 2011 20:03:45
by: kallis3
What happens if creditor doesn't claim ? James.46 2 687 27 February 2011 10:13:21
by: MelanieGiles
I finish my iva on tuesday. James.46 9 910 02 January 2011 10:43:44
by: Julie
i have 1 more payment to make James.46 9 702 20 December 2010 17:22:54
by: MRBLUESKY
i have two payments to go to complete my IVA James.46 7 606 06 November 2010 07:15:10
by: kallis3 -


I am now totally confused? On 17 March you made a thread that you have had confirmation that your final payment has been acknowledged by DFD.
There are other threads that state in 2010 you have 1 more payment to make??
Is there a cross over of the user James.46 or am I missing something.

Merlin, there are a couple of members who, it appears, are posting friends IVA problems and feeding back our replies. One, in particular, I think is actually running a debt advice service this way !

We can but answer the current query and hope this helps the original poser of the question.

" One, in particular, I think is actually running a debt advice service this way" Seriously? I know we generally don't judge but, well that just takes the biscuit...

Just a guess on my part, Merlin, but that is the way I see it.

So this poster finished an IVA in 2010, 2011 and now has a failing one in 2015?

Wow! I'm remaining non-judgmental but would like to ask could the username be a crossover? or is it something else?

Pity the clients that they are helping if the adviser has to ask on here!!!

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by kazzafunk

Pity the clients that they are helping if the adviser has to ask on here!!!

if there was a 'like' button you get one from me