HiI've had my IVA for around 2 years now,

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
 
 

mich

User avatar
Posts: 9
Joined: Thu Nov 22, 2007 11:03 am
Location:

Post by mich » Fri Jun 05, 2009 11:52 am
Hi

I've had my IVA for around 2 years now, and and wanting to start a family with my fiancee.
What happens to my payments?
 
 

kallis3

User avatar
Forum Expert
Posts: 77176
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri Jun 05, 2009 12:00 pm
Hi,

If your income changes due to any additions to your family, then you will need to speak to your IP to get a variation agreed with your creditors.

If you can still manage to pay what you are paying now, then I doubt anything will change.
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
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:

Post by Michael Peoples » Fri Jun 05, 2009 12:33 pm
If you are in a position to get third party funds now may b a good time to offer a full and final. The loss of income due to maternity and the additional costs of a child could put a strain on your finances and creditors may look favourably on a settlement. If this is not possible do as Jan says and speak to your IP. You will need to calculate the extra income and expenses to see how your payments would be affected. The IVA will not prevent you from atarting a family and all issues should be resolved.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”