Hi, Hope you are well. We are just over a year i

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Post by evadav » Tue Aug 31, 2010 11:53 am
Hope you are well.
We are just over a year into our Iva and boy its tough(we new it would be)
Due to a few problems(car repairs, broken washing machines etc) we have gained arrears with council tax and secured loan. It only amounts to four hundred pounds. For some reason I have always ensured my IVA payments have been made, looking back we should have paid the others first, silly i know.
Two payment breaks would allow me to clear most of the arrears and allow me to start again, is it reasonable to ask for two payment holidays.
Many thanks

Tina Shortland

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Post by Tina Shortland » Tue Aug 31, 2010 11:58 am
Hi evadav - yes it is - depending on the arrangment in place your IP has the ability to suspend payments for up to 6 months and add them on the end.

The sooner you can get the arrears sorted the better and as you now recognise these are priority payments that should be made should you find yourself in a similar situation in the future. Always best to speak to your IP if things crop up instead of missing payments elsewhere.

Hope you get things sorted soon

Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.

If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com

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Post by MelanieGiles » Tue Aug 31, 2010 10:28 pm
That ability has only been available since April this year, so evadav would need permission from creditors to take a six month payment break.

You may well be able to negotiate a break of two months directly with your IP, but there is something fundamentally wrong with your budget for contingencies to necessitate this. I suggest an overall review of your expenditure allowances would also be sensible at this time.
Regards, Melanie Giles, Insolvency Practitioner
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