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tracey001

Please help

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Hi,

What happens if I can't keep up IVA payments? Can I go to jail?

I lost my job and I did not know how to pay for IVA. Right now I'm still looking for a job to keep paying.

Can anyone help me?

 

 

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Haven't the foggiest as to what "IVA" is, but IMHO the first step after any job loss that hampers your repayment ability would be to discuss your situation with the debtor(s) and go from there. (And, to my knowledge, "debtor's prison" no longer applies in civilized societies.)

Edited by normdiaz

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On 26/11/2019 at 14:42, tracey001 said:

Hi,

What happens if I can't keep up IVA payments? Can I go to jail?

I lost my job and I did not know how to pay for IVA. Right now I'm still looking for a job to keep paying.

Can anyone help me?

 

You will not go the jail. Worst case scenario would be creditors trying to make you bankrupt but it is essential that you get professional advice asap. If a creditor wanted to go down the bankrupt route they would have to be prepared to pay out nearly £1300 to get the process started and have a reasonable expectation of getting their money back. Read this from Citizens Advice. Hope all goes well for you.

https://www.citizensadvice.org.uk/debt-and-money/debt-solutions/individual-voluntary-arrangements/managing-your-iva/failure-of-an-individual-voluntary-arrangement/

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@tracey001 what @richy176 said.  You will not go to jail, but you must get specific advice ASAP.

Contact the Money Advice Service (free, impartial advice) on 0800 138 1677, or debt charity Stepchange 0800 138 1111.  They will be able to help you.  Whatever you do, do not pay anyone to 'solve' your debt problems or get into more debt trying to keep up your IVA payments.

I hope you find a new job soon.  Good luck.

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Yes, you're right guys. My sister helps me in this situation and I also seek advice from professionals financial adviser.

Thank you guys hopefully everything will be okay...

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