I think I might have to apply for an IVA as my child maintenance I now have to pay through the CMS has doubled and I now cannot afford food. will having an IVA effect how much child maintenance I will be made to pay through the CMS ?
Hi and welcome. No, an IVA will not affect the amount the CMS decide you are liable to pay. However, this amount will be allowed for in the agreed expenses when they arrive at the IVA repayment amount.
I would suggest you have a chat with a couple of firms to decide whether an IVA is, indeed, the way forward as there might be more suitable alternatives, according to your full circumstances.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Firstly I would see if you can speak to CSA about this amount if you cannot afford it.
Speak to a couple of firms about an IVA. Vincent Bond (details under ask experts a question link on the left hand side of the page) will give you some free advice.
Depending on whether you have any assets and how much you owe then something else could be worth it for you.
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
If you don't have enough money to pay for food I can't see that you would have any funds to be able to pay contributions in an IVA (unless you are including the payments to your creditors when calculating your net disposable income).
Depending on your circumstances there might be a better option out there for you such as a DRO, DMP or BKY.
What assets do you own and how much are your debts?
