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If i cannot make my payments...?

 
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Stu



Joined: 25 Apr 2007
Posts: 15
PostPosted: Thu Apr 26, 2007 8:56 am    Post subject: If i cannot make my payments...? Reply with quote
I was wondering what would happen if I was to do an IVA and could not afford to meet my payments due to sickness or loss of job etc?
Would this mean I would have to go bankrupt?
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Holly
ClearDebt Advisor


Joined: 25 Apr 2007
Posts: 15
Location: Manchester
PostPosted: Thu Apr 26, 2007 3:26 pm    Post subject: Reply with quote
Stu,

ClearDebt have recently introduced an Insurance Policy for debtors proposing an IVA which is supported by monthly contributions.

The insurance policy makes the IVA payments on your behalf if unforeseen circumstances should arise, although this would be looked at in your individual circumstances like any insurance claim would be. This service is of no additional cost to our debtors; the insurance premium is paid out of the monthly contribution that you would pay into your IVA.

I do not know what other IVA companies offer in comparison to this, which would be something you would have to look into.

I hope this has provided you with some assurance, if you have any further queries, please do not hesitate to ask.


Many thanks


Holly O’Connor
Personal Insolvency Advisor
ClearDebt Limited
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