My second key query is this;
My husband has been made redundant. We have no joint finances. The mortgage and bills are in his name. I pay 'board and lodge'. Would the IVA take into account in my yearly review that I am currently paying all the bills myself so my outgoings have really increased?
I find this all so confusing!
Thank you for your help.
You should immediately tell your IP of your change in circumstances as they may be able to offer assistance in some way.
Your husband should register for benefits and support in finding work immediately - the current job market is very difficult, but keeping a very open mind as to what he can and wants to do may help in him returning to work quickly.
Good luck!
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Will your husband receive any lump sum redundancy money? If so is this a large amount?
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.
I agree with lulu that you need to inform your IP as soon as possible.
It may be possible for you to take a short payment break whilst he finds further employment.
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
Thanks for your replies - my husband only received one months wage as redundancy, which we obviosuly used the following month to pay bills. He has been redundant since October now, and we have used any savings he had to pay bills. He has payment protection on his mortgage but due to many cock ups on their part we are still not getting the mortgage payed yet. He is searching for jobs everyday, and has had to sign on to validate the payment protection on the mortgage. We are now really struggling to pay everything on my wage. I looked into a payment holiday from my IVA, but am concerned about adding time onto the end of my IVA as I am desperate for it to end, and have been advised there is a £100 admin fee to do so, so we are just trying to struggle on at the mo. What Im really scared of is them increasing it at my yearly review in 2 months.
I agree with Melanie - there cannot be an Admin Fee - find out and let us know
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.
