I am about to come off disability benefits

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michael167
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by michael167 » Fri Jan 05, 2018 3:29 am
i'm currently subject to an IVA which i pay £85 per month towards my debts, all creditors were in agreement, so IVA passed. my issue is that i am about to come off disability benefits, regardless of having a long term illness, yes its the PIP thing. i want to look at going self employed but am finding it difficult in finding public liability insurance, what are my most realistic options?
1) abandon the iva as i wont be able to afford it once benefits severely slashed, or
2) get PLI from a reputable company suggested by those online and keep in the IVA?
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kallis3
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by kallis3 » Fri Jan 05, 2018 7:22 am
How much are your total debts? If low enough and you have no assets, you could consider a DRO or possibly bankruptcy.
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Foggy
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by Foggy » Fri Jan 05, 2018 9:52 am
You are pretty much at the bottom end of viable repayments. How long have you been in the IVA ? If you were to carry on, do you think you would make it to the end?

Kallis's suggestions might be worth looking at.
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Lisa Thomas
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by Lisa Thomas » Mon Jan 08, 2018 11:21 am
Perhaps you can get a payment break agreed whilst you find alternative income.
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