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T O P I C R E V I E W
Sophie.el
Posted - 06 March 2012 : 12:39:08 I am into the second year of an IVA but am worried about keeping up payments. Have already had 3 months holiday. I live in a housing association house with my child, and my equity is about £15000 if house sold at market value; debts are £17000; and IVA costs are £5000+. I know about asking for a variation but can they make me bankrupt if this fails, please?
1 L A T E S T R E P L I E S (Newest First)
Viki.W
Posted - 06 March 2012 : 12:49:12 Hi Sophie,
Speak to your IP as they are there to help you, and see whether a reduction of payments will be acceptable.
If you really think that things aren't going to get better, then the IVA will need to fail and then you are back to square one.
You can then look at either a debt management plan or bankruptcy.
