John, I think your IP is trying to keep you in the IVA as they know that once BR they won't recive anywhere near as much money from the OR. I had 6 payment holidays - for sickness, job change etc, and while they didn't reduce the payments at all I was given a breather! It only delayed the inevitable really and I too should have gone BR instead of struggling in an IVA for two years. We live and learn! I deliberately stopped paying my IVA so it would fail so I could get the money together for the costs. My judge and the OR did not make anything of this - it was the only way I could afford to go BR. Once I booked the court date my IP was quick to provide the proof I needed that my IVA had failed. So you can declare yourself BR - you can stop making IVA payments to make your IVA fail. It's a great feeling to take control back from your IP! Good luck
DO we go BR or keep with the IVA
Posted - 05 September 2008 : 08:57:16
