I'm pregnant and worried about IVA!!

[oopsadaisy]

Hi all,

I've found out today I'm pregnant! It wasn't exactly planned we started trying in Jan 2011 went on to loose 3 babies in a row, the last being in Feb 2012 and sort of never thought about contraception or trying after, we always said we'd leave it to fate....

Now it's happened I'm scared, although I am self employed and intent to stay self employed throught I'll be able to work until I'm due the nature of my work and can work after I've had the baby or take maternity allowance which is no less than I earn now ironically!

I know we will get more tax credits and child benefit, we have a daughter 3 1/2 already but I am worried how much of these payments the IVA will consume? how is a new baby calculated? I'll be due in August between our reviews, our 1st is happening now and our 2nd review will be december 2013 but obviously our expenses will go up before then [:(] what happens with getting a bit more when we need it?

Luckily we've kept most things from our daughter but we need some items and then if it's not a girl we'll certainly need clothes and formula and nappies etc eekk makes me panic what we've done?!

We've been through so much we didn't want to leave it until we were out the iva in 4 more years as we'll be 34 then and our daughter will be 7/12 :/

[Foggy]

First of all CONGRATULATIONS !

Don't let the IVA spoil the joy.

Have a chat with your IP, I am sure they can help --- your allowance will increase, which might reduce your payment, the extra child benefit and tax credits will, I am afraid, be counted as income, but the chances are these will be balanced out by the increase in expenses.

Who are you with ?

[oopsadaisy]

Thank you, we're with Duff and Phelps, maybe we'll have a chat when we've had a 12wk scan and feel a bit more like it's happening! x

[Niobe]

Congratulations from me as well and I echo Foggys words. Have a chat with your IP and I am sure everything will be ok.

[Shining]

Congratulations I'm sure your IP will be able to assist. x

[luluj]

Congrats......you are one lucky couple and I am very jealous....what I would give to have a child ......do not let your IVA get in the way of your happiness......exciting times ahead ad I am sure your IP will support you!

[abbiesmum2003]

I know exactly how you feel x 
i have two children and pregnant with number 3.  I also sadly suffered from recurrent miscarriage and lost three babys so as unplanned as this pregnancy is, it is a miracle. 
We are having to look into IVA as deep in credit and not from lavish lifestyle just general costs of living increasing more than income.
I feel absolutely dreadful that I am having to consider an IVA and live on such tight budget for next 5 years but its our only escape. 
My maty pay is shocking and is causing some awkward calculations but i have a brilliant IP and think we can sort something out 
The extra child benefit/tax credits will count as income but as i understand it you will need a new I and E to take into account housekeeping increases etc. 
Congratulations on your new pregnancy snd I hope and pray that all goes well for you. It is very difficult to relax and enjoy these early weeks given your history but do try. Things will be ok and Im sure this baby will be a marvellous addition to your family xxx keep posting