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Posted: Wed Apr 23, 2008 3:54 pm
by Beans on Toast
We have, in the past, taken a payment break from our mortgage in December. This allowed us to get all our presents and took the sting out of Christmas.
Because I am paid monthly, we get paid early in December, so it is a long time until pay day in January. Could anyone please tell me if it is ok to take these breaks whilst in an IVA [?]
Posted: Wed Apr 23, 2008 4:01 pm
by Julie
Hi
You have to have permission from your IP first. I know I wanted to take one last year due to huge car repair bill and as soon as I phoned mortgage company they told me I needed permission.
The IP advised us not to take payment and we just sent bill in for repair and paid less into the IVA that month.
Hope that helps you.
Posted: Wed Apr 23, 2008 4:05 pm
by Beans on Toast
Thanks Julie, hopefully we wont need one, just wanted to see if anyone had been knocked back for one reason or another.
Posted: Wed Apr 23, 2008 4:06 pm
by rayb
I will be honest with you. I do not think IP's look on you to favourably for taking payment breaks for Christmas presents!!!
Posted: Wed Apr 23, 2008 4:19 pm
by Beans on Toast
Wouldn't have thought it would be too much of a problem as long as we made our IVA payment.
Posted: Wed Apr 23, 2008 10:41 pm
by MelanieGiles
Not if the reason is for Christmas shopping! This has to be budgeted for during the year, and I am afraid IPs are very sceptical of clients asking to miss payments in December and January.
Posted: Thu Apr 24, 2008 9:23 am
by Beans on Toast
Thanks Melanie, will bear that in mind. The christmas thing was something we have had to rely on now and then in the past, hopefully we should be in a better position this year now our IVA is underway.
I shouldn't have used the Christmas example, I think I have mislead a few people to the reason behind my original post.