If you`ve had changes in your situation, there are things your supervisor can do to keep things on track. For example, if you have short-term emergency costs, you can take an authorized payment break to cover them. If you take payment breaks, you will need to make up for missed payments before your IVA ends. You can ask your receiver to extend your IVA to give you more time. If they agree, they usually extend it for a maximum of 12 months. I want to pay off my debt because when I took out loans and other things, I was able to repay with the original lenders, but that happens and things change. There are some things that could put your IVA at risk, and many people worry about what they would do in this situation and where they are. However, it is important to remember that many VUs are successful. Hi Shane, you need to talk to your IVA company about your options. As this article says, you may be able to take a break of up to 6 months if your health is likely to recover during this time? If you don`t think you can return to work, you`ll need to discuss whether your IVA could be treated as “complete,” but your creditors might disagree. If you have an IVA and are having problems, take a look at the terms of your IVA and see which of the points listed here are included in your agreement.
Then, call your IVA company and discuss how to proceed. Hello, MY IVA is on the verge of failure (I`ve been here for about 4 years) – as it`s been so long since I`ve dealt directly with my creditors, I can`t remember who they are, how many there are or how many I owe now. Of course, I also don`t have the opportunity to know if they will charge me interest and administration fees. I`m not sure what to do now. Bankruptcy has been mentioned and I do not know if it is the right option for me. I don`t think IVA was the right option for me now because not only did they not make the reasonable budget, but I told them at the time that my job was not stable at the time (we had just been bought by another company and at that time there was a risk of dismissal). Anyway, it`s done now, and I don`t know what to do next Hello, I had an IVA that was terminated more than 6 years ago (less than a year later) due to a job loss. .