www.iva.co.uk

Hi sorry to bother you i have 10 months left on my iva at 300 pound a month i am scared to talk to them as all they do is scare me just been told by my mortgage company that i have to start paying 620 pound a month as i was on interest only to help me out . dont know what to do as cant afford to pay both can you give me some advise please

Hi please contact your IP direct, can you email him/her if you don't want to talk in the first instance. If you've only 10 months left it's in the best interest of nobody for your IVA to fail.

Please don't be scared of them, talk it through. x

Hi Michelle,

I agree with Lesley - please speak to your IP. They are there to help you and I'm sure they can sort something for you.

Please don't struggle.

Have to agree with the above .... don't be scared of your IP. Might I ask who you are with ?

As others have said speak to your IP and discuss.....there will be a solution and I am sure they will help you achieve the necessary outcome in this.....do not be frightened off them...you have done so well!

You should never be scared of speaking to your IP.

With only 10 months left (well done you) why are you scared to talk to them? I`ve posted before about the mortgage rate time bomb, don`t go thinking you are alone with this problem, and having come so far on the journey I can`t imagine it being an unsurmountable problem. There are others in the same boat as you, talk to your IP please, I`m sure it can be sorted.

what happens if it cant get sorted , iv looked everywere for information but very vage and the bottom line is i go bankrupt what happens i dont mind losing my house as so much is going wrong with it its worth nothing can someone talk me through what will happen many thanks

With 10 months to go (I assume you've paid 40). It won't be in the interest of anyone for it to fail. IP's are human and know costs are rising etc., Try not to worry x

I am very sorry to hear that you are scared of talking to your IP, and do wonder why you are having these thoughts.

My fellow professionals and I are mere human beings at the end of the day - during the day we work at our desks looking after our clients and repaying creditors, and at evenings and weekends most of us do the usual humdrum things like school run, washing, putting the bins out etc! We are your equals in life and you should never be afraid to pick up the phone to deliver either good or bad news.

Many people are facing increased mortgage payments at the moment - completely wrong in my opinion given that base rates are unchanged - but with most problems a solution can be found if we know about it and can help you to deal with it. Maybe bankruptcy is an option you now wish to consider, but one thing for sure is that you need the ongoing support of your IP throughout this process, and I am sure they will want to deliver this to you.

Which firm are you with as a matter of interest?

w3 debt solutions and never spoken to my ip just her representative thanks for your advice but cant see how they are going to help me unless they let me pay 100 pound a month and no more extensions

Michelle - I would ring your IP and if you can't get to speak to them direct - ask for a call back from them. It's your right to speak to them. I never spoke to mine but didn't need to, if I did I would have insisted.

With only 10 months to go and increasing outgoings, your IP could call a variation meeting to ask your creditors to accept payments made to date be sufficient to conclude the IVA.

Please call them tomorrow - the sooner it is dealt with, the sooner a solution may be found for you.

lesley what do you mean by paid 40

I suspect that Lesley means 50 months paid and 10 months to go.

kazzafunk do u mean that what i have paid to date could be enough to end my iva as its been longer as it should have been as i have extended it twice ? soz to sound dumb but dident understand then and dont now