I am unable to meet the minimum payment

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nigel728

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Post by nigel728 » Mon Apr 09, 2018 5:25 am
I'm already in a iva but due too unforeseen problems, I'm unable to meet the minimum payment I'm paying what else can I do I've offered a token payment of about half what I should pay. What happens if I can't make the the full payment I'm being told to pay?

Foggy

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Post by Foggy » Mon Apr 09, 2018 6:45 am
Do you mean you cannot make all of one paym,ent .. or you cannot afford all the payments going forward ?

If just one ot two payments you can ask your IP for a break which will be added back on at the end. If all payments going forward you will need to do a full review and see if payments can be adjusted -- if not the IVA will fail and you will be back to square one with your creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/

kallis3

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Post by kallis3 » Mon Apr 09, 2018 7:53 am
Speak to your IP company asap and explain the situation to them. I'm sure they will be able to help.

How long have you been in your IVA?
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.

Lisa Thomas

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Post by Lisa Thomas » Mon Apr 09, 2018 8:33 am
As Foggy says is this a permanent issue or a one off?
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
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