mirela wrote:Hi, I started an iva just over a year ago and everything went well, but due to change of circumstances I have accumulated debt again. The only debt I accumulated since is from my bills. I became sick and been in hospital, my husband had to stay home with the babies and we just afforded to pay the rent, the iva and put food on the table. Now we are both having a solid income, but creditors are going to start coming at our doors before we can afford to pay everything up to date. Is there any chance we can start a second iva to cover the debts we recently made ? Thank you
No, you cannot start a second IVA while still in the first. The new debts could, however, force this one to fail. Did you inform the IP of your drop in income ? Did they offer any assistance ?
Rather than fail the IVA, your IP might agree a payment break ( which will be added on at the end) to allow you to use the money to settle the new debt --- especially if they were aware of the situation and failed to respond.
Did you not speak to the IP at the time to tell them your circumstances have changed? Please bear in mind you have a duty to do this.
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