What if I can not pay my repayment and miss a payment?

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Our Main priority for our IVA mortgage brokers is to provide you with a first class service for all your IVA Mortgage needs, Depending on your circumstance we could help you find a IVA Mortgage deal at a very competitive interest rate, we do all the leg work, so you can relax, best part is our expert service is 100% FREE and there are no strings attached. Click Here to request a call back and one of our IVA mortgage advisers will contact you shortly.

The Main priority is to provide you with a first class service for all your IVA Mortgage needs, Depending on your circumstance we can help you find a IVA Mortgage at a very competitive interest rate, we do all the leg work, so you can relax. Click Here to request a call back and an advisers will contact you shortly.

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What If I Can Not Pay My Repayment And Miss A Payment?

It is vital that your budget allows you to make regular payments for the IVA before you put forward the payment schedule to your creditors. If you cannot afford to make your payment for a particular month then you should contact your insolvency practitioner as soon as possible, they can help you make an agreement with your creditors. Creditors will not mind the occasional missed payments within the term. However if you regularly miss payments, then the insolvency practitioner will have to fail your IVA. If you loose your job in the period of the IVA you may be able to call a meeting with your creditors and put forward a petition for a new lower rate of monthly payments. This process is called a variation, it is best to avoid variations as much as possible especially at the start of the IVA term as this will not reflect well on your ability to be committed to the agreement at the start of the IVA. For a variation to be approved it must be once again have a two third majority vote. Thus the outcomes of this cannot be predicted. If your creditors reject the new payment plan and you are unable to pay, then your insolvency practitioner may have to petition for a bankruptcy, if this happens towards the end of the IVA, then you would have wasted both time and money.In some cases it is possible to negotiate a payment holiday if you are finding it hard to make payments, but this will result in extending the IVA period further towards the end.

IVA Mortgages Frequently Asked Questions

What occurs to my assets in an IVA?	Who can start an IVA?
The pros and cons of an IVA?	How does an IVA Work?
How much will I pay a month ?	What happens at the end of the IVA?
Having problems during the IVA?	Is an IVA better than declaring bankruptcy?
I have debts,what options do I have?	What if I can not pay my repayment ?

Mortgage Help Desk UK Mortgage Products

"Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage "

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