www.iva.co.uk

Hi all hope everyone is well

Just wanted some advice, i rang my iva company today and told them i needed another car as mine has packed in they told me today i can miss two payments to buy a car for £1000. They told me that i will have to have a variation meeting what will this involve and my iva wont fail will it

thank you
David

It does depend on the terms of your specific iva, but it is unusual for a two month payment break to warrant the santion of creditors expressly.

If a variation meeting is required, I am sure that your creditors will support your need to purchase a replacement car.

Hi Dave,

Your IVA should be quite safe, you will be doing this with the permission of the IP and the creditors if they are holding a variation meeting.

You will have to make the payments up.

Thank you ever so much for your support really greatfull

Regards
Dave