I would speak to them immediately so they know what is occurring and be able to hopefully make alternate arrangements for you. They may be able to arrange a payment break to enable you to find another job and tag it onto the end of the IVA Term or if you are near the end of the IVA could see if they can conclude it early. Whatever your circumstances its best they know now so they can prepare rather than you just not be able to pay next month and go into a breach.
Hope you get another job soon, and that you can sort things out 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
Sorry to hear about your job...I know how it feels. Hope you get another job soon.
How long have you been in your IVA?
I'm applying now. Just that there are so many people in the same industry as me
Just 9 months. Although just a short amount of time, it's taught me a valuble lesson in money. Only spend what you can afford. If it means credit, save for it (if that makes any sense lol).
Last edited by wannabedj on Thu Apr 22, 2010 9:04 am, edited 1 time in total.
If Football was meant to have been played in the air then God would have put Grass in the Sky
I think you can take ask to take a payment break mark and this can be sanctioned with your IP's permission but you would need to catch these payments up when you found alternative employment.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
You can ask for a payment break, and I am sure it would be granted, but it's not set in stone as far as I am aware.
Wannabedj, I hope you get lucky with a job 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
Under the new 2010 IVA protocol, you can take a payment break of up to six months in the event of job loss, but you can only do this one during the course of the IVA without sanction of creditors. Obviously any redundancy funds have to be used up first before this can take place.
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
