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| mgf1953 |
Posted - 08 January 2010 : 13:51:11
Hello all.
I am in my first year in IVA and managing ok. My car which I need for work and visits to my sick mum is starting to play up. I have just had to spend 400 pounds to get it through the MOT. Its not right and I feel its going to cost me more over the next months. I want to know how I go about asking for a three month payment holiday to save up to replace my car. I pay at present £770 pounds per month and the replacement car would cost about 3000 the balance i have in my emergency fund, can anyone guide me on this, I would like to ask for a holiday payment now rather than wait three months when my car stops for good.
any help is great
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| 6 L A T E S T R E P L I E S (Newest First) |
| mgf1953 |
Posted - 09 January 2010 : 16:18:59
Thanks very much to all and skippy too, I will let you know how I get on after I set out a letter to my IPA
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| Skippy |
Posted - 09 January 2010 : 13:31:07
I'm sorry, I read that you had an emergency fund of £3k and you needed the balance from the holiday break - just put it down to me being tired!
You really need to speak to your IP about this. There's a post on the IVA forum that I'm assuming is from you and the general opinion is that if you need to purchase a car to work there shouldn't be a problem, but only your IP can sanction this.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
30 IPA payments made, 6 to go - the end is in sight! |
| mgf1953 |
Posted - 09 January 2010 : 08:04:12
Thank you to all who have responded to my mail.
Skippy,I do not state that I have 3000 pounds!! I have asked if I start a three month holiday break at 770 and with what I have in my emergency fund I would be able to purchase a car worth 3000k.
The questions are
Is this something that could be concidered?
And rather than wait for my car to completley breakdown and in the meantime continue to pay for parts that I start the break now?
Many thanks to all |
| Skippy |
Posted - 08 January 2010 : 21:42:20
RHB is right, you need to speak to your IP.
I'm presuming you have worked overtime to save the £3k in your emergency fund, but I don't understand why you need a payment break from your IVA if you have this.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
30 IPA payments made, 6 to go - the end is in sight! |
| RHB |
Posted - 08 January 2010 : 17:56:59
First port of call would be your IP. Do they know about your emergency fund? |
| gettingoutofdebt |
Posted - 08 January 2010 : 14:33:08
Hi,
You should post this on the http://www.iva.co.uk/forum board. You may get some help here as some people have been in an IVA before declaring bankruptcy but this forum is regarding bankruptcy rather than IVAs. |
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