Kind of need help/advice as getting bit stressed now.
Long story, so strap in.
Had IVA for approx 4years, was going well, unfortunately circumstances changed. My partner became very ill, and ended up in hospital for an extended period of time. I ended up leaving my job, leaving my house (rented) and moving in with her. I did get another job, but took substantial cut in wages and had to take few months out of IVA, they were great and quite supportive. I eventually set up an agreement to drastically cut monthly payments as am supporting the household including a child, and extend IVA for 12 months. I have buried my head in the sand and take full responsibility for kind of ignoring letters/phone calls, and am now thinking my IVA will fail anyway. Can anyone advise on what options I have if this happens? We live in housing association accommodation and I am worried this will be affected, even though I am just a tenant and my partner isn't named on IVA, and I also do not actually own anything to offer if bailiffs do end up knocking. Any help would be gratefully received. Thanks in advance.
First off, sorry to hear of your troubles. You need to initiate and start communicating with your IVA company, after 4 years they don't want you to fail either. Communicating your story and current situation is the best way forward, your IP has several options and solutions they can adopt, stopping communication gives but one option and that is not going to be the best way forward. Please contact your IVA company and get some form of dialogue going now, before it is too late. The tenancy and other things are minor at the minute and can be resolved later.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
The best advice I can offer is to urgently speak with your IP and explain what is happening at the moment and what the difficulties are. They may be able to offer a way forward without scr pping the IVA, or even be able to ask the creditors to accept a full and final based on payments made to date.
If you allow the arrangement to fail you will be back to square one with creditors.
Out of interest, how much were the original debts ?
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