What happens if I lose my job during my IVA?

Depending on your circumstances, we may be able to offer a short payment break to give you time to regain employment and return to a position of being able to afford your monthly repayments. We will also look at whether we need to adjust the amount of your repayments based on your new income.

It is worth noting that a payment break does not mean that the missed payments will be removed from your plan. You will need to recoup these costs by either extending your plan, increasing your payments temporarily or making a lump sum payment.

We understand the impact losing a job can have on your personal life and we will always do our best to find a solution that fits your circumstances, which is why it is important that you call us as soon as you anticipate any changes.

 

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