When does IVA fail?

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willowstar

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Post by willowstar » Fri Aug 08, 2008 5:37 pm
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I pay £1137 per month and have done for 20 months. Have had awful run of luck and so reduced payments by £100 June & £200 July. I need to do the same again this month. Will this mean the IVA will fail? We can make up the short fall before our next review in December. My IP very difficult to deal with and making noises about failing IVA. Can this be done. Have been good payer up until this point. Do I just reduce the payment or contact the IP. Already know they will not give their blessing? This web site is great wish I had found it years ago.
Willowstar
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MelanieGiles

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Post by MelanieGiles » Fri Aug 08, 2008 5:39 pm
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It is usual for you to be allowed to miss three full IVA payments before the IVA is deemed to be in default, but you do really need to take guidance on this point from your own IP to be sure.
Regards, Melanie Giles, Insolvency Practitioner
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Wizzard

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Post by Wizzard » Fri Aug 08, 2008 5:41 pm
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Hi Willow,
If you are having serious problems with your IVA you need to speak to your IP as soon as possible. The advice you get on here is priceless but in this case your IP needs to be aware of your problems. Best of luck xx
When I was young I was called a rugged individualist
When I was in my fifties I was considered eccentric
Here I am doing and saying the same things I did back then and now I'm labelled senile
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Wizzard

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Post by Wizzard » Fri Aug 08, 2008 5:42 pm
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Bloomin 'eck ... beaten again lol
When I was young I was called a rugged individualist
When I was in my fifties I was considered eccentric
Here I am doing and saying the same things I did back then and now I'm labelled senile
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