www.iva.co.uk

i want to know how you can miss a months payment im finding it a bit of a struggle the company i work for has really gone slack i only work 32hrs at moment over 4 days but recently i have been sent home on occasions through the 4 days and my wages have dropped drastically hoping it will pick up again and i be back working 42 hrs but at mo i wondering if you can miss a months payment without my iva failing and how you go about it.

Hi munl,

Sorry to hear that you are struggling.

Speak to your IP about this to see if they can help. They are usually able to reduce payments by up to 15% before asking the creditors.

Have you tried compromising on other areas before seeing the IVA as s form of temporary overdraft? If you are intending on asking your IP if you can miss a payment, these are things you are likely to be asked - and it seems more than justifiable given the reduction in your income.

A review of your income and expenditure may be more useful to you so that your payments are more affordable while work is a bit slower. Although if the iva is unaffordable you can speak to your IP about a payment break for a month or perhaps longer. I hope things get better for you. x