Posted: Wed Apr 10, 2013 1:06 pm
Can i take a payment break from my IVA ?i am in year three and need to take a break for few months to try and get striaght.
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Posted: Wed Apr 10, 2013 1:47 pm
In short, yes you can, depending on the terms of your proposal. YOu will need to have good reason to do this and you will need to speak to your IP about it. Usually if you have a payment break, the term of the arrangement will be extended to compensate.
Posted: Thu Apr 11, 2013 10:09 pm
You may take a payment break, only if the terms of your arrangement allow for one.
If you don't have the provision, then nothing to stop you not making payments at your own behest, however once three or more have been missed it is likely that your IVA will fall into default. You may also be able to arrange a payment break with the agreement of your creditors as presented at a creditors meeting.
What are the reasons which have led to you needing this break?
If you don't have the provision, then nothing to stop you not making payments at your own behest, however once three or more have been missed it is likely that your IVA will fall into default. You may also be able to arrange a payment break with the agreement of your creditors as presented at a creditors meeting.
What are the reasons which have led to you needing this break?
Posted: Thu Apr 11, 2013 10:56 pm
Is your budget set correctly or have extra expenses come up?
Paul
Paul
Posted: Thu Apr 11, 2013 11:14 pm
Hi, I'm currently on a 3month payment break, you are allowed 6months in total. I also had to get straight. My company were very understanding. Speak to yours and they [;)]should help you.
Posted: Sat Apr 13, 2013 8:12 pm
Give your company a call. Say you want a break. It will be fine you are well into your. Iva. If it was just started then they would have an issue
I was offered. 6 months. Twice just for the hell of it maybe they knew about PPI coming up so wanted me off there system for awhile
Its your. Iva you do as you want
I was offered. 6 months. Twice just for the hell of it maybe they knew about PPI coming up so wanted me off there system for awhile
Its your. Iva you do as you want
Posted: Sat Apr 13, 2013 8:20 pm
Rachael - make sure you check eith your IP. Emmad has siad you can have 6 months in total. This isn't true for everybody. An IVA is individual to you, and while most of the time the IVA's follow the same protocol we must be careful to advise that you must check your proposal and speak to your IP before deciding.
Posted: Sun Apr 14, 2013 8:38 pm
Not all IVAs will have the six month payment break provision - so can we try and not be so specific acount our advice, as this could lead to confusion and difficulties between client and IP.