Hi,
im currently involved in an i.v.a. which i pay so much for 60 months then my debt is cleared.
After 60 months the rest of my debt is wiped clean.
I was just after advise if anyone knows what would happen if i missed some payments to my i.v.a.????
2007-03-11 09:07:28 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
You're in the last chance saloon before bankruptcy. Miss a payment & they'll nail you & you'll be living on an income (regardless of your earnings) that won't make it worth working and, because you've defaulted on an IVA, you probably won't be discharges until the maximum 7 years is done.
My advise is don't even be tempted to default on your IVA - the pain just isn't worth it.
2007-03-11 09:13:47 · answer #1 · answered by cafcnil 3 · 3⤊ 0⤋
Dude, see the citizens advice bureau. I think non payment will lead to problems!
IVAs are a last chance for debt problems!
2007-03-12 12:54:59 · answer #2 · answered by John S 4 · 0⤊ 0⤋
If you default then you have broken the terms of the IVA and they could potentially take you to court. THerefore if you can;t afford it, get CAB to renegotiate it. Unless it's with HFC who ignores all letters and will add rediculous charges for the priveledge.
2007-03-11 16:17:49 · answer #3 · answered by kellie0702 3 · 0⤊ 0⤋
You are not going to miss some IVA payments. Go ahead sucker!
You will get your backside burned.
2007-03-12 12:39:04 · answer #4 · answered by esmerelda v 5 · 0⤊ 0⤋
i know it all sounds serious but if you genuinely find it hard paying you can ask for your repayment's to be reduced if it ends in court procedure's then the court will let you pay only what you can afford, they can't have what you haven't got it's as simple as that so don't worry too much. good luck.
2007-03-15 15:32:38 · answer #5 · answered by Anonymous · 0⤊ 0⤋