Will they cancel my IVA?

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faydhar

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Post by faydhar » Thu Jan 09, 2020 1:53 pm
Hi, I have an IVA. Last year I was made redundant after working in the same place for 10 years. Due to my mental health deteriorating was allowed a 6 month break on IVA payments. When it restarted I was still unemployed but through family and living off toast I have been making payments. I have now missed last month's payment and cannot see how I can make this month's too I have a job opportunity starting next month so will be able to start making payment again I'm just worried they are going to cancel my IVA.

Foggy

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Post by Foggy » Thu Jan 09, 2020 2:19 pm
You need to speak to your IP to see if they will agree to a further break. Three unpaid payments without agreement could see the IVA failed.
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

Foggy

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Post by Foggy » Thu Jan 09, 2020 2:22 pm
Faydhar -- I have deleted the other two posts as they are the same as this one and it is better to have all replies in one place.
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

luluj

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Post by luluj » Thu Jan 09, 2020 3:01 pm
Have a chat to your IP ..explain and make an agreement of covering the last two payments over the next few months when your new opportunity starts. Good luck with this opportunity x
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

faydhar

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Post by faydhar » Thu Jan 09, 2020 3:52 pm
Hi Foggy

Thank you for your reply ok i was worried just one missed payment would mean the iva being cancelled so knowing its 3 puts my mind at rest slightly . I have read you can have up to 9 months approved payment break in certain circumstances. My apologises for the duplicate posts

Lisa Thomas

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Post by Lisa Thomas » Thu Jan 09, 2020 4:24 pm
How long have you been in the IVA?

It might be worth putting forward a variation proposal to creditors to see if they will accept payments to date in full and final and bring the IVA to an early end.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

kallis3

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Post by kallis3 » Thu Jan 09, 2020 5:17 pm
Hopefully you can get something sorted with your IP.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

faydhar

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Post by faydhar » Tue Jan 14, 2020 3:48 pm
Hi i have only had the iva for 2 years so settling is not an option. I emailed my advisor and they passed my case on to someone else .. they have asked how I have been making payments since I have been out of work and how will I carry on making payments .I have explained my famiky have been helping and are willing to help untill i find work i am extremely worried they will cancel my iva on this basis .

kallis3

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Post by kallis3 » Tue Jan 14, 2020 4:21 pm
I doubt if they will - as long as they are aware this is just help and not a loan. As long as they get the payments it should not be a problem.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

faydhar

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Joined: Thu Jan 09, 2020 1:39 pm

Post by faydhar » Tue Jan 14, 2020 4:26 pm
I really hope so I'm on edge waiting for their reply. I think missing 2 payments has not helped my case. But i have offered to.pay extra per month to cover the payments missed or to see if I could have a further payment break . This is just a blip and with help from famiky I know i can keep with payments untill i restart work .

kallis3

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Post by kallis3 » Tue Jan 14, 2020 4:28 pm
Hopefully you will have no problem and will find work soon.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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