Hi we are nearly three years into a joint IVA, My husband has been on the sick for nearly 9 weeks and was only receiving stat sick pay of around £80 a week he usually earns in the region of £450 a week. We struggled to keep going with me on my part time wages struggling to keep up with both iva payments and the rest of the bills. We then read that you couyld have a iva holiday break in times like this and decided to take it.Hes now back in woirk and we will restart our iva in oct I am really worried now though as i have send off my payment slips and have now received a letter about additional income i need to pay them £675.00 in fourteen days, I had put away my extra income to pay this back but it all got used up while he was on the sick ???? paying bills, food etc etc as we have three children....as we have used a payment break is there any other way i can pay this back over a few months or will i have to pay it back in 14 days as i just dont have it. Really feeling worried about this and dont want it to fail .
Im very very new to this in fact so new not gone IVA yet and still may not however from what Ive read any payment break is normally added to end of the IVA ??
My friend (also in an IVA) was in same situation and she spoke to her IP and they arranged for her to pay a bit extra each month until the additional income had been paid back.
x
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
If the IVA is IVA Protocol it can be extended by up to 9 months to capture arrears of uplift - although clearly your IP will want to ensure that you pay over the monies on time moving forward.
Hi Jayne - check with your IP to see if your IVa is protocol as per Mel's post above. If it is there should be no reason why they cannot sort something out for you to address it in a realistic timeframe.
I hope your husband is better now.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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