Would anybody know what the maximum payment holiday would be, that an IP can offer?
The reason is my OH contract finishes next month, and CF have said they will offer a 6 month payment holiday - we have 4 payments remaining to complete our IVA!
You can give six due to redundancy but three months in arrears for anything else can constitute a default. I hope your OH finds work soon and you can finish your IVA.
Hang in there Deep, I can totally sympathise. My hubby was made redundant three years ago, it took nearly two years to find a job, thankfully he's been there a year now. Its because of redundancies over the years that we ended up in a financial mess.
Do you have payment protection on your mortgage, can he claim Job seekers. Don't forget that if he is entitled to redundancy money you should be able to use some of it. Our terms said that we were entitled to the equivalent of six months wages from any redundancy and the rest handed over to the IVA. As it was, the redundancy pay he got totalled less than six months wage, so no uplift due, but it allowed us to use it as a normal wage for each of the first six months, we still claimed the MPP and obv he was getting JSA, we 'saved' this money until the six months was up, then after that used it to top up what we got from job seekers so that it allowed us to still be able to pay all our bills including the IVA until he got a job. We even explained that to PJG at the time and they were happy that we had done this as it showed good money management.
