missed payments

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
Post Reply
 
 

davep

User avatar
Posts: 17
Joined: Thu Apr 09, 2009 9:47 pm
Location: United Kingdom
Post by davep » Tue Feb 02, 2010 10:26 pm
Quote
Hi all hope everyone is well

Just wanted some advice, i rang my iva company today and told them i needed another car as mine has packed in they told me today i can miss two payments to buy a car for £1000. They told me that i will have to have a variation meeting what will this involve and my iva wont fail will it

thank you
David
dave p
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Tue Feb 02, 2010 10:30 pm
Quote
It does depend on the terms of your specific iva, but it is unusual for a two month payment break to warrant the santion of creditors expressly.

If a variation meeting is required, I am sure that your creditors will support your need to purchase a replacement car.
Regards, Melanie Giles, Insolvency Practitioner
Top
 
 

kallis3

User avatar
Forum Expert
Posts: 77176
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom
Post by kallis3 » Tue Feb 02, 2010 10:31 pm
Quote
Hi Dave,

Your IVA should be quite safe, you will be doing this with the permission of the IP and the creditors if they are holding a variation meeting.

You will have to make the payments up.
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
Top
 
 

davep

User avatar
Posts: 17
Joined: Thu Apr 09, 2009 9:47 pm
Location: United Kingdom
Post by davep » Tue Feb 02, 2010 10:36 pm
Quote
Thank you ever so much for your support really greatfull

Regards
Dave
dave p
Top
Post Reply
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”