www.iva.co.uk

We are pregnant with twins (not planned-failed contraception) We are over three years into the IVA-and when the twins arrive we will have 7 children under 10.

Clearly we are going to struggle to meet our payments-we have nothing to offer a full and final-but my wage won't cover childcare costs so our income is going to be halved-leaving nothing at all for the IVA.

The thought of going bankrupt when we have come so far makes us want to weep.

Could the remainder be written off, and the IVA concluded early?

Do exceptional circumstances count?

Hi Goldie, I have twin Grandsons they're now 5 months old and although a handful they're very special.

I would most certainly talk to your IP directly to see if their is a solution and if you hang around a while one of the professionals will be along very soon to advise more concisely. x

Congratulations!!

No idea what your IP will say, but common sense has to prevail surely?

Seven children under 10 is going to be challenging enough without financial worries hanging over your head!

Blue

How long have you been in the IVA, and how much money has already been paid over? Also how much did you originally owe to creditors?

hi congratulations on your news of twins how exciting hope you can arrange something with your ip and good luck for the future

Congratulations from me as well. Don't envy you having to look after all those kids though!![:D

I think are about 3 1/2 years into the IVA, having looked back at previous posts?

You may be able to get your creditors to agree to a full and final with what you have paid in.

Speak to your IP about this. It is not in anyones interests to let the IVA fail now.

Melanie-we are 3 years 5 months in-paying back £970 a month which is 68p in pound I think.

Goldie

I think that you have a very good chance of getting creditors to accept what you have paid in in full and final settlement, but are you really going to be losing all of the £970 as a result of the twins arrival?

My income will be lost for a year, and then I am likely to want to reduce my hours to care for 7 children. I currently bring home £1900 after tax. Full time childcare for twins is about £1000 a month on top of the £780 we already pay for the others.

Goldie

Perhaps an idea to take a payment break initially while you sort out what your wages will be when you go back to work.

I do think though that in the long term you may be allowed to conclude with what you have paid in already.

Hi Goldie. Congratulations on the twins thats great news. I started my IVA 14 Dec '05 and then found out that I was expecting twins in March '06. So I was terrifed as I was going to be a single parent. But with massive help of family I was able to continue my IVA and will hopefully finish it in Dec '10. I totally agree that 7 children will be a lot but you cant let your IVA shadow the great news that you also have. Twins are a joy and I hope that something works out for you. And in 9 months you'll have 2 fabulous bundle of joy. xx