What can I do ? After paying my IVA for 5 years I am now unemployed.

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abu
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by abu » Wed Apr 26, 2017 5:25 am
What can I do ? After paying my IVA for 5 years I am now unemployed. I have a year left.
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luluj
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by luluj » Wed Apr 26, 2017 6:26 am
You need to seek a full review of your income and expenditure and if there is no sign of gaining new employment then possibly seek a full and final offer on payments made to date to end the iva early.
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Foggy
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by Foggy » Wed Apr 26, 2017 6:53 am
Good advice from Luluj -- but, in the meantime, request a payment break from your IP while you sort this out, as three missed payments without agreement will fail the IVA.
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Lisa Thomas
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by Lisa Thomas » Wed Apr 26, 2017 9:17 am
Speak to your IP.

Why was it a 6 year IVA (the norm tends to be 5 years)? Was this due to an extension in lieu of equity in your home?

Take a break whilst you get back on your feet or put a variation together to accept 5 years in settlement and close early.
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