Hi Im due to go on maternity leave in May, and my Boss has just made me part-time with the way of business falling at the moment. I have already contacted my IVA to say that im taking maternity soon and they have sent me an expenditure form to fill in and said that my IVA may come to a stand until i return to work, but what happens between now and the time of my Maternity leave, how am i suppose to pay in to it, my partner was also laid off work just before xmas, i really dont want to go bankcrupt do you think they will put a hold on the next few months as well. Thnx
Hi lpepsi and welcome congrats on your good news.
an expert will be along to advise you soon.
i know that your ip can advise a break in your iva
but im not sure if they can authorise one long enough for what you need.
try not to stress at the mo.
one of the experts will point you in the right direction [:)]
Your circumstances have substantially changed since taking out the IVA with both your and your partners wages changing - if you can no longer service your IVA and with your pending birth in account - would bankruptcy not be a more suitable solution for you both to consider?
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Is there any reason why you don't want to consider bankruptcy? Do you have any assets?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Well an initial payment break can be arranged (as a variation) by your supervisor (IP) and then see what your financial situation and job prospects are at the time you propopse to return to work. You can then diceide on your options, bankruptcy might be one of them if things don't improve on the financial/job fronts.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
