Emergencies happen to all of us in an IVA and, often, cause distress and discomfort, but are the nature of the beast. Sometimes we manage to save a small emergency fund before entering the arrangement, other times we just have to manage until we can get the money together -- maybe by a payment break ageeed with the IP.
This could mean bailiffs are instructed to remove assets of value, a charge is put on your property (if relevant), you could be made Bankrupt with all the ramifications that come with Bankruptcy.
Why are you thinking about failing it?
Can you ask for a payment break to cover the emergency payment you had to make?
You should speak to your IP.
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