Could my IVA be cancelled?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1

Taze1992

Posts: 1
Joined: Sun Sep 02, 2018 2:10 pm

Post by Taze1992 » Sun Sep 02, 2018 3:03 pm
Hello,

I've recently had to resign from my current job. Unfortunately my parents have decided to no longer support me and have requested me to move out.

I have a boyfriend who I will be moving in with, however he lives in Kent and my job is currently in Devon.

I've handed in my resignation and am applying madly for jobs but unfortunately to no good end!

I haven't yet informed my IP as I'm hoping to get another job before I do. I'm worried he will cancel my IVA if I don't have any means of income. My IVA began in February this year.

Can someone please let me know what my options are?

Thank you

Foggy

User avatar
Forum Expert
Posts: 28939
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sun Sep 02, 2018 3:06 pm
You could ask your IP if he / she will agree to a payment break (which will be added back on at the other end of the IVA ) to give you a chance to sort stuff out.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

luluj

User avatar
Forum Expert
Posts: 10509
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Mon Sep 03, 2018 2:42 am
You need to speak to your ip and let them know ofthe change in circumstances. As foggy suggests they may allow a payment break but the other option maybe is to consider bankruptcy as you have no income and no assets. Tske professional advice starting with your IP

Good luck with the job hunting
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

Lisa Thomas

User avatar
Industry Expert
Posts: 7397
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Mon Sep 03, 2018 8:48 am
Options:
  • Payment break
    Propose a variation to accept payments to date in full and final settlement of the IVA
    Fail IVA, which could let to recovery proceedings including Bankruptcy
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”