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?
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/
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?
Sharing from experiences of dealing with debt
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