Our IVA supervisior has told us we will need to pay beyond 5 years. My husband lost hius job and I have had 6 months maternity leave so payments frozen. We can't cope with potentially a further 2 years of payments, can we get out of our IVA?

With missed payments, you can either make them up by paying extra for a few months until you catch up, or by adding the payments on to the end of the term. Hi, thank you. That sounds a bit more promising then as have been worried about losing our home if we were forced to go bankrupt. We are half w...

David Mond wrote:

A variation can be the answer for a payment break to cover your loss of income whilst on maternity leave. Discuss with your IP asap.

Thank you for your reply, but not sure what you mean by variation? By adding on payments will that mean the 5 year term will be extended?

If the IVA fails is it automatic bankrupcy? We are in arrears of 3 months, as we were granted half payments to pay for car repairs. I go on maternity leave in May and will need a break from payments for 6 months. We are so worried that we won't be able to catch up. What will happen? Our supervisor h...

Hi

I would like to know about 'statute barred'. I have been approached by a debt company chasing me for a debt that goes back to last payment 2002. Please let me know whether debts after 6 years are erased?

We currently pay 60 pence in the pound and being hit hard by the credit crunch. Our supervisor has said we should be able to mange on our budget, but it doesn't factor in huge repair bills for cars etc. We are really really struggling to make ends meet. We have 2 more years on our IVA to go and we a...