I am currently 37 months into an IVA and I want some advice on whether we should wait until I have finished my IVA before we try for a baby. My girlfriend wants to try now, but I am concerned that my IVA might be in danger with the added costs. Would the IP always be able to reduce my payments. I started on £329/pm and I currently pay £355/pm.
I am with Freeman Jones.
What I am trying to ask, is the any sort of guarantee that my IVA won't fail because if this situation? Are they always able to reduce the payments?
There is no guarantee at all, I am afraid. All I can say is that many posters have had babies during their IVA's and carried on to the end.
Your paperwork should (though not all do) contain a clause allowing the IP the DISCRETION to reduce payments by up to 15% -- but this is down to your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Please pop me an email to Steve.hewitt@freemanjones.com and I'll have a Relationship Manager give you a call. That way we can discuss all you options, explain about variations and hopefully help you with your decision.
Having a child is something that the IVA should not get in the way of, but by having a chat we'll hopefully put your mind at ease.
Thank you.
Steven Hewitt - a member of the team at Freeman Jones
Putting your personal life on hold is something to be avoided where possible in an IVA. Your family life and relationship with your partner is the most important thing here - and lots of babies do arrive during IVAs and the new Mums and Dads cope very well in my personal experience.
