IVA - Individual Voluntary Arrangement

FreshPrince_2

Hi Gang
Help can anyone give me some advice. I've entered a IVA about 2 years ago arranged by Payplan. In the last couple of months I've found it very difficult to keep up with the arrangement of just over £400 a month and can no longer sustain it. It is now time for my annual review. I have agreed with Insolvency practitioner to reduce the monthly payment to £300. All well and good but now the Insolvency practitioner won't me to extend IVA for a further 15 months. This would mean my IVA would have been over 6 an half years. Beside going bankrupt I got any other options.

Any suggestion what I should do?

fermi

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].