Couldn't afford to keep up repayments

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by steven658 » Sun Jul 30, 2017 9:30 am
I entered into a Iva in 2010. I paid for the first year then my payments went up to £300. I then had a child and basically couldn't afford to keep up repayments.
I didn't hear anything off these people (Vardun Nuttall ) until end of last year telling me it had failed. So I have personally paid in approx £1200 and they have had £12000 from my ppi. My initial debt was £31000 .
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by kallis3 » Sun Jul 30, 2017 9:43 am

It has failed if you have not paid, your creditors may come back and contact you.

Could you do a new IVA at all?
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by Foggy » Sun Jul 30, 2017 8:08 pm
By now the interest accumulating on the debts will have eaten up the PPI refund,along with VN's fee. I imagine your debt might well be larger now.
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