I live in a 2 bedroom house and have 1 20 month old daughter. I would like to have 1 more child within the next 5 years. How would this affect my IVA? as I would obviously like to move to a 3 bed house so the children had separate rooms especially if I had a boy next.
Would the allowances go up to accomodate another child? If I move would any extra equity (if there was any) have to go to the IVA? Am I even allowed to move house?
I know I have some big life changes to make with regard to money and stopping spending it, but does every aspect of my life stop for the next 5 yrs?
You can have more kids in an IVA, it is just intended to pay off your debts and help you live to a budget without credit. If you have more kids, then you may have to ask for a variation to help you with costs.
Are you in your own house or rented accommodation? If it is your own house, then you may find it hard to get a mortgage whilst in an IVA, or if you are in rented accommodation, you would be able to try and rent a larger house.
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
We have a lot of posters who have kids whilst in an IVA - you may have to take a payment break, but if you want kids - you go for it!
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
My grandad once told me that if you wait till you can afford to have children you will never have any. It does cost money to raise a family but dont let previous debts stop you.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
One was more than enough for me! I've got two stepchildren as well (both adult) and after the daughters 21st descended into mayhem on Sunday night (due to stepdaughter getting very drunk!) I know why I never had any more!
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
Its funny coz I'm one of 7 children and I know what we were all like when we got together, hence the reason 2 will be enough for me.
hhmmm just have to convince the other half he wants to go through all those sleepless nights again!! Although at least they won't be sleepless because of debt!!!
We were lucky that our daughter slept through the night from 11 weeks old - the only times we had problems were when she was ill!
Still wouldn't want any more!
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
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
