consequesnces of defaulting on an IVA payment?

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johanna70

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Post by johanna70 » Thu Apr 17, 2008 12:28 am
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Hi,

My husband has had an IVA in place with a company called PB Recovery for the last 12 months paying £880 per month. I took out a debt management plan with a company called Brightside at the same time paying £250 per month. We are finding it increasingly difficult to make the payments as our outgoings have increased (our son has started secondary school uniform & travel costs). Our daughter is due to start secondary school in September and although she won't need to use public transport as the school is within walking distance we are worried that we will not be able to make the payments. Please could you advise on the possible consequesnces of defaulting on an IVA payment?
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Adam Davies

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Post by Adam Davies » Thu Apr 17, 2008 6:36 am
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Hi
Rather than defaulting write to your IP and request a freash income and expenditure form.
Your IP can then call a variation meeting with your creditors and ask for payments to be reduced down
Let us know how you get on
Regards
Andam Davies
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Soulgrowth

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Post by Soulgrowth » Thu Apr 17, 2008 6:47 am
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Can you have an IVA AND a DMP running at the same time?

Debbie
Debbie
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