what will happen with my IVA as I cannot pay?

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carla29

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Post by carla29 » Mon Apr 28, 2008 2:13 pm
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I took out an IVA last year but have just been made redundant. At present I have no income as benefits are being processed. Because my daughter has had to be taken out of nursery I have no child care and cannot work. If I have no job what will happen with my IVA as I cannot pay?
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chris.g

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Post by chris.g » Mon Apr 28, 2008 2:16 pm
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Hiya Carla and welcome. I'm no expert but I don't think iot's possible to continue in an IVA when you're claiming benefits. It may be that your best bet will be bankruptcy depending on what assets you may have,
xx
It's nice to be back......
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Oliver

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Post by Oliver » Mon Apr 28, 2008 2:37 pm
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Hello.

You need to contact your IP as soon as possible and make them aware of your situation. If you can show that you will be able to make your payments in the future then your IP may be able to secure you some breathing space. Ultimately though, if you have no money to pay into your IVA for a significant period of time, it will fail and you will be back to square one and in need of an alternate solution.
Best Regards
Oliver
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