question category: IVA

I'm on a IVA but due to a clause in it, i messed it up big time!


I'm on the IVA at the moment but due to a clause that was written into it by HMRC i failed my agreement within the first 2 months due to loss in earnings. I only found this out 13 months into the IVA after paying what i could each month based on the advice i had at the time (15000+ a month). I owed 18K and have records to show i paid at least 8K over those months but that was over 18 months ago, i asked my insolvency practitioner again recently on my status and they said again it is with lawyers as they did last year and i should expect a letter expling the net stage! I have not paid towards the iva for over 18 months and unsure what is going on. There is also a clause that states i do not pay tax while within the IVA and now worried i will have pay back payments to make for a very long time to come. Why is it taking so long when my intent was to sort it all out 5 years ago and now i'm here in a worst place.

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