i keep getting a worrying feeling that my iva is going to fail i heard that some ip s fail you on your 4th 5th yr . i have just completed my 2nd year 3 years to go but i keep thinking that by now my ip has claimed all there fees costs etc and that they could just say bye bye i have never missed payments always on time but still worried something go wrong.
I've not heard of this and haven't seen any posts that suggest this happens. Someone else might be able to shed some light on the subject. I would say that the IP would look very bad if they deliberatly try to fail an IVA.
IP's will not fail you unless you have missed payments without authority or you've not paid across any extra monies that you should have.
Don't worry - they will not deliberately fail you at all.
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
Even when you do miss payments up to a limit, or not pay money across, one call to your IP can generally help sort this out.
When your so far in its in no-ones interests for you to fail. Im not sure how others work, but looking at my chairmans report from last year, my IP takes a percentage every year for fee's so to get the full payment they need the IVA to continue until the end, otherwise they will fall short of there own fee's. Plus they have signed a court order to supervise the repayments on my behalf, would look very bad if they had multipal failures.
Hi Munl, I think I know where you are coming from, each year that passes it gets a little bit closer to the finish line, but it also feels so far away an you just dont want anything to go wrong the further you get into your IVA.
I did used to feel as though they could pull the rug from under my feet at any moment & be back to square one. I think I personally felt like this as, I had handed over my debts to someone else, which was like handing control over to them too.
But they will never pull the rug from under your feet & they are their to guide & help you through the IVA if any problems occur. I think of it as they are handling my debts while I repay back as much as I can, whilst I learn how to never get into this situation again.
Im sure you will be fine & your doing really well, so be proud of how far you have come & look forward, only 3 years left to go!!! Yippeee!
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
