childcare costs and mortgage.

[cat 1]

I pay for after school club and when necessary holiday club.I try to take my holidays with the children.I have enough in my IVA to cover the weekly term time cost and if I need to the funds to cover the holidays.I was able to take xmas leave and now easter leave so haven't used the money.If I continue to cover the holidays will my IP take the excess money away at the annual review? Also, in a couple of years, I will not have after school options as she will be in secondary school.To avoid her going home alone, she will be expected my me to got to the extra school activities .These come at significant cost.I know this is 18 months away but I will worry about this as it's the only area of the IVA that seems very 'flexible' and could be removed.
Also,
In 2011 my fixed rate mortgage will end .I'm with NR and they were also a creditor for an unsecured loan.I envisage huge raise in the mortgage payment.Therefore, what would happen then?
Thanks
Cat[:I][:I]

[MelanieGiles]

I suspect that your IP will not ask for increased payments as this was an allowance which was agreed by your creditors.

When is your IVA due to complete?

[cat 1]

Melanie...it's got 5 years and 8 months to go [:I] However, I find I worry about, and question everything.Some days worse than others.The childcare allowance is the only thing that wasn't a fixed monthly cost if you see what I mean, but it had to be this way as if I didn't have easter off and cover from mum, I would have had to find £180 approx.I do give my mum some, usually to 'entertain' them (eldest doesn't strickly need minding' just feeding and giving money to him !)Despite this 'extra' I'm 'struggling' more this month.Hence, the worry again.Still, this worry is nothing like the worry we had before the IVA.Thanks, as usual for the support.Cat

[MelanieGiles]

Cat

I rather suspect, but this a personal opinion not an official one, that by 2011 when your mortage is due to be amended that there will be other options on the marketplace. The mortgage world may be in turmoil at present, but this does not mean that it will not recover over the next couple of years, so I would cross that bridge when you come to it.