We have been in an iva for 4 years never missing a payment always paying any over time in etc etc , iN MARCH I HAD AN emergency OPERATION THAT CAUSED ME TO HAVE 5 MONTHS OFF WORK BUT AS I WORK OF RTHE NHS this didnt affect the iva i went back to work and my husband began having back problems he was advised to have a back operation himself but said no due to the iva and had back injections done instead and began taking strong medication this has resulted in being off work since then only receiving staurary sick pay, his boss had told him he cannot return to work while on this medication as he operates machinery and would be an insurance risk we have had this is writing and have send this to the iva, the doctor has now suggest that the back operation really is needed sooner rather than later but would mean at least 3 months off work , my husband is still saying no i we dont want the iva to fail at this late stage, since hes been off our mortgage comapny have allowed us to make reduced payments with the mortgage but this has now left us £1,500 in arrears, to tip it all off today we had the valation of our house done and were shocked to find we were £5,000 in negitive equity valued the house at £79,000 said repairs and updating needed to be done which have been diffciult while in the iva, and we have a mortgage for £85,000 plus the arrears ..and i have just had a letter that i also now have to go in for surgery myself in 5 weeks time so looks like i will also be off work ....as you can imagine we are both going out of our minds with worry we have three children to support too and really dont want it to fail at this stage we will do anything somone has mentioned payments to date and maybe it fishing early ..do you think this is a possiblity in our case or would it be more likely to fail ??any advice would be greatfully received many thanks
Hi. In an IVA negative equity is a good thing as it means they won't want you to release any equity.
As for the ops. Payments to date is a possibility, but, I would think, in the circumstances you are more likely to get a payment break agreed, which will be tacked on to the end of the IVA.
You really need to talk this through with your IP -- who are you with ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
