hi and welcome to the forum your first step would be talk to your IP running the IVA to have the payments reduced if BR is your choice after considering everything then you will need a IVA failure certificate normally achievable after 3 missed payments you may be better off speaking to one of the professional forum experts who give free advice Paul Johns of Revivauk www.revivauk.com and mel from jonesgiles www.jonesgiles.co.uk
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurhman) RevivaUK and Paul Johns helped me through it all i can't recommend them enough!!
Sorry to hear you are facing difficulties 3 years into your IVA. In the first instance give your IP a ring (don't be fobbed off with an admin member of staff, you are paying for the IP to represent you, so get to speak with them!) and ask for a full review of your circumstances, which may result in a reduction of your monthly payment if your circumstances have changed in any way from the initial set up, which may enable you to continue with your IVA having got so fat into it. You would need to liaise with your IP in any case if you wished to go down the bankruptcy route as you will need a certificate of failure if bankruptcy is your chosen route.
Hope this helps, Melanie
Melanie Nicholas 29 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
I am now struggling to make the payments
Posted - 28 February 2010 : 16:45:12
