www.iva.co.uk

hi,

I would like to know what my position is regading my IVA. i have been unemployed for a few month now and am having difficulty getting the right job again. my father has continued to make my iva payments on my behalf.

i am now having my annual review and my iva supervisor has requested my p60 and wage slips, which i do not have.

i have just read my terms and conditions and it says i should tell my supervisor of any changes. i did not tell them of this change because i thought they were just interested in getting payment every month.

am i in trouble?

i'm really worried now.i will contact them straight away but would like to know can my supervisor cancel my iva because my father has been paying it for me.

i cannot afford to get into the same messy situation as before or even go bankrupt!

please advise

kash

Not real trouble - but your IP ought to have been advised of the change in your circumstances, and you can do that now by telephoning them.

To a certain extent you are right in that if your father is covering the payments the IP ought not to be too concerned, but if I were acting for you I would have liked to have been kept in the picture - and of course this will show up from your P60 now in any case.

How long is your father going to be able to keep up these payments for you if you do not find work soon?

hi Melanie,

Thank you for the super fast response. what your doing is great.

My father will pay until i get a new job. He has been paying for quite some time now and says its fine with him. he suggested to me that he may just make an offer to settle with my creditors. i hope this works out.

I was in 50k debt. my iva is to pay 440 per month for six years (30k). of which my creditors got 20k. (ip fees 10k). my father said he can pay about 15k towards my debt to settle early. therefore my creditrs will get 15k rather than 20k if they decide to settle early.

kash

Hi k r
That sounds a very good offer and one that your creditors could well accept.The fact that you are not working will make the offer very tempting.
I suggest that you put this offer forward to your IP
Good Luck

It is difficult to gauge whether that offer is a good one or not, when we do not know how much you have already paid over. How many contributions have you made to the IVA to date, including monies paid by your father?

i am on my first annual review.

therfore, most of my payments will go towards the ip fees (i think). i think a total of £5280 has been paid to date.

do you think they will accept melanie?

thankyou

k_r

I think the offer is on the low side, and if your father were to get nearer £20,000 it might have more chance - but I must stress that this must be addressed with your Supervisor who has detailed knowledge of your case.

Hi
I think that it will be accepted as you are currently unemployed.
It is a good offer
Regards

Yes - Andy makes a good point about you being unemployed. Defintaely something for your Supervisor to bargain with.