failing health, not sure if i will finish IVA

[linda50]

i am currently in an iva and have just got to 2 years, however due to slowly failing health i am not sure if i will finish it as i will have to leave work. is it worth me carrying on for as long as possible or should i opt for br now? if i have paid three or four years of an iva will it help if it comes to br?

[Lisa2009]

Do you own a home or other assets that would be at threat under bankruptcy?
If not, it could very well be the better option if ill health is making you struggle.

mrs skint

[MelanieGiles]

I would advise you to carry on for as long as you can, as the more you can pay over now, the more chance you have of creditors accepting those monies in full and final settlement of their liabilities in the event of a variation.

It is imperitive that you alert your IP to the potential problem in the future, and that their own advice.

[linda50]

are you saying that if i have to give up work due to ill health and have paid 3 or 4 years off of my iva i might not have to go bankrupt?

[Adam Davies]

Hi
It is possible that your creditors will accept payments to date as full settlement for your debts.Have a chat with your IP and keep us posted
Regards

[johnt]

common sense should prevail here. Talk to your GP, I guess this all depends on your condition, how manual your job is. Get a good proffesional opinion of your health, and then talk to your IP.

Being as transparent as possible is the main thing. No one will thank you for worrying and keeping all this to yourself.