what happens when i retire ?

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alan.1

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Post by alan.1 » Sat Jul 31, 2010 6:39 pm
what happens if when i retire,i cannot make the monthly payments.
 
 

Julie

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Post by Julie » Sat Jul 31, 2010 8:31 pm
Hi Alan,

Are you already in an IVA?

If you are considering an IVA, then you would discuss your retirement with your IP at the beginning. When you enter an IVA you are agreeing to make the payments, if there is any reason why you think you can't do this, then you must tell your IP.
 
 

plasticdaft

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Post by plasticdaft » Sat Jul 31, 2010 9:44 pm
If you are in an IVA this should have been discussed before you signed anything. If you arent in an IVA yet then make sure it is discussed.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

MelanieGiles

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Post by MelanieGiles » Sun Aug 01, 2010 12:56 am
IVAs should not be timed to extend past retirement. An IVA does not have to run over five years, I have several cases for older clients which are over three or four years, the end to coincide with their retirement.

Are you taking early retirement which could not have been forseen at the outset?
Regards, Melanie Giles, Insolvency Practitioner
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