things are going to get very difficult in 2009 we are all feeling the pinch. My husband hours have been reduced an d it will mean alot less money for us we also in an iva i dont know what were going to do when the time comes i dont think we can pay them the agreed amount each month, what will happen?
With regards to benefits - look on the jobcentre plus website www.jobcentreplus.gov.uk - there are links on their to a benefit advice line - they will be able to give you some information on what benefits may be payable.
If you are redundant and you receive a payment, then would this not be sufficient to offer as a full and final - just a thought and maybe something you could consider.
Don't stress out about it - life is too short to be worried constantly - things often happen for a reason and to be honest nothing can now upset me since our IVA journey - take one day at a time and solutions will happen - keep smiling !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I would contact your IP as soon as possible nemo to inform them of the situation. They may be able to vary the amount you pay.
If you can't make the payments and are unable to get them lowered, then after three failed payments the IVA will fail and you will be back to square one.
I'm sure it won't come to that, but you need to fill your IP in on what's going on.
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
Absolutely - ongoing communication with your IP is essential, and if you feel that you can no longer afford the level of payments you are required to make, a variation to the original terms ought to be possible.
Its always important to have discussions with your Supervisor (IP) as soon as anything occurs that may or may not impinge on your IVA. Most can be sorted by a Variation - but communicate now. Good luck
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
