www.iva.co.uk

Hi
im in an IVA (My second) with Freeman Jones, they are excellent,as are Think (now that i see what the other banks provide, and the problems such as waiting times are sorted)
However becuase ive lost my job i cant afford the IVA,

Im paying £313 a month for 60 months, i was wondering if i could offer
£120 a month for 100 months, or would that not be possible?

Thanks

Hi
It will be upto your creditors,however it will be very unlikely because of the costs involved by your IP in supervising your IVA.
Typically an IP will charge approx 1k a year to supervise an IVA so less than £500 per year will go to the creditor,in your case.
Why not ask for a payment break whilst searching for new employment
Good Luck

Good luck in finding a new job quickly.

Hi
my IVA Supervisor said becuase im only at the begining of my IVA, I cant have a payment break.

It would be beneficial to have a 6 month break, but dont think I will get it.

Stu