I've only entered iva this year in January, whilst I am employed I am now on sick leave due to a back injury that has worsened through being at work.
Firstly my pay has gone down to half pay so my iva payment is a struggle.
Secondly I'm considering the need to resign due to my back , I can only get sick pay for a few months then I don't think I can return to work. I could move in with my partner but would have no income of my own if I resign. What would happen yo my iva if I did resign ?
You can ask your IP for a payment break (although some IVA's do not allow this in the early months). Any missed payments will be added on at the end.
If you cannot make the agreed payments the IVA could be terminated and you would 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 http://foggy.blogs.iva.co.uk