www.iva.co.uk

Hi all - sorry I haven't been on for ages - work has been really busy and my IVA (16 months in) has been going really smoothly.

However, in February my girlfriend went off sick and needed a knee operation - the operation was not successful and she is still off, and she is on statutory sick pay.

We are really struggling at the moment to make ends meet, so I contacted my IP and have asked if I can postpone payments for three months, and he said that he will need to set the wheels in motion for a creditors variation meeting, he also mentioned 14 days notice and 75% of my creditors need to agree.

I just wondered from your personal experiences whether this is likely to be something which is agreed?

Hi,

I am sure your IP and the creditors will be sympathetic to this - it is something unforseen and cannot be helped.

I hope your girlfriend recovers soon.

Hi,

I second what Jan says - IP's are very likely to be sympathetic to your plight as it is not in there interest for the IVA to fail

Thanks

Just so I know what to expect (my IP is not brilliant at providing me with loads of information!) - am I looking at 75% of value, or just 75% of population (i.e. 3 out of 4 in my case)? What about if people don't vote?

Also, my creditors are HSBC, MBNA, Inland Revenue and Halifax - are these receptive to these sorts of things?

I can only speak of HSBC - they owned 40% of my husband's debt and they voted "yes". J

we have just had a variation accepted due to a change in circumstance. It has gone from a 29p/pound iva to a 20p/pound iva.
The variation took ages as it was adjourned 3 times due to creditors not bothering to vote. but after a lot of persistance from my supervisor they managed to get votes.