What happens if I do not inform you that I can't make the contribution?
If you miss payments without permission this may be deemed as a default of the IVA. Serious defaults can result in the failure of the IVA and may lead to the Insolvency Practitioner commencing bankruptcy proceedings against you. If contributions are not resumed or an agreement is not reached to resolve the issue, the IVA will ultimately fail.
It is therefore important that you contact us as soon as you become aware that there could be a problem in making your monthly payments.
