I have an IVA due to end June 2011, however I have been made redundant and have got the statutory redundancy package, so not very much at all. I currently pay £700 into my IVA per month and have doubts about getting a job that pays anywhere near enough to continue the payments as they are. I have contacted my IP and they have not been very helpful, just said they can''t do anything or advise me until they know what my new incomings/outgoings are.
I don;t own my own house or have an expensive car or savings. What are thet likely to do?
Many thanks
A payment break in these situations can be sanctioned by your IP to give you time to find alternative employment of maybe 6 or 12 months. The IVA can then be picked up again and concluded in due course. Wait around for a professional opinion. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
A shame that your IP has given you the impression of being unhelpful, but they truly cannot advise you until your circumstances are known. You can take up to three months missed payments before the IVA falls into default, so do your best over that period to find the best job you can, and then get your IVA payments reassessed.
