Pregnany with First Child

[becksdawe]

Hi All,
Ok so I'm majorly stressed out right now. I am pregnant with our first child. My fiance is on an IVA with 3 years to run.

What is bothering me is that when I go on maternity leave my income that tends to supports us bothe is gonna to be halved. This is such a stress for me.

Will the IVA company see it in his favour if he asks to reduce his payments - at least - until I go back to work? Or what other choices does he have

[Adam Davies]

Hi
Yes your IVA company can ask your partners creditors to reduce payments whilst you are on maternity leave.
Ask him to speak with his IP.This is a common event and both his IP and creditors will be sympathetic.
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[becksdawe]

Thanks Andy.

It's gonna be an awful year - I can feel it. My preferred option was for him to go bankrupt but he is too proud.

[MelanieGiles]

It's going to be a happy year - you have a little one on the way who will bring you much joy and happiness! And life should not be put on hold just because your partner has a few debts.

You must sit down together, however, and formulate a plan for your financial future based upon the loss of your earnings and the additional expenditure you will incur when the baby arrives. Also check out the amount of benefit you will be entitled to receive.

When this is known, your partner then needs to talk to his IP to see what options there are, and try and get him to remember that sometimes bankruptcy can appear to be a very attractive option - especially if he owns no assets which would be at risk from creditors.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[iva experts]

Your going to bring a child into the world, its going to be a great year.

Creditors do not expect you to have 5 years of no changes that would be unrealistic (although to be honest you were very close) but individuals circumstances change and thats a fact.

As Melanie has advised, sit down with your fiance and calculate what income and expenditure you are due to receive whilst you are on maternity leave and going back to work etc. Then discuss this with the I.P involved.

Best of Luck [:D]


Best Regards,
IVA Experts
http://www.iva-experts.co.uk/