Hi me and my partner have been on an IVA since july 2006 it as i'm a self employed builder times have been extremely tough for the last year and as a result i owe my IVA £800 and they are now going to issue me with a certificate of termination what i want to know is whats going to happen now?
How many months of your IVA have you actually missed and have you discussed these with your IVA companny? It would be a shame for your IVA to fail at this stage, maybe if you are still struggling you could ask for a variation / payment breaks?
Unfortunatley if the the IVA does fail, then you're back to square one and creditors can start adding interest and chsing you for the money. You could then try for another IVA, a dMP or see if bankruptcy is an option.
Try all you can not for the IVA to fail - which IVA company are you using?
