If I don't cancel my IVA I will be sacked from work

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sandeepa
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by sandeepa » Thu Jan 18, 2018 4:17 am
I have recently set up an iva however. A creditor has confirmed I don't owe them any money and family can help me pay off creditors I want to cancel my iva can I do this as I will be sacked from work if I don't
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luluj
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by luluj » Thu Jan 18, 2018 5:09 am
Has your iva been approved at a creditors meeting ?

If so you can offer a full and final figure to end your iva however this will need to be based on number of payments left x monthly amount.

If it it yet to be approved you can request for the process to stop.

Can I ask what work you are in that will cause you to loose your job ?
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Foggy
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by Foggy » Thu Jan 18, 2018 7:51 am
If the IVA is already running you can allow it to fail, but it will remain on your credit files for the full 6 years and any damage it might do regarding your job has probably already been done. Liek Luluj I am curious as to what the job is and why the IVA puts it in jeopardy.

I might add that you will be back to square one with creditors who might not co-operate going forward and will be able to enforce payment in other ways if they wish.
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Lisa Thomas
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by Lisa Thomas » Thu Jan 18, 2018 9:38 am
Do you only have one creditor?

Why would you be 'sacked' for entering an IVA?
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kallis3
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by kallis3 » Thu Jan 18, 2018 10:34 am
I think there is more than one creditor reading the original post and of course some jobs won't allow you to be insolvent.
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Lisa Thomas
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by Lisa Thomas » Thu Jan 18, 2018 11:35 am
I would have expected the OP to consider that before starting the IVA.
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