www.iva.co.uk

Hi

We are 15 months in to a 72 month IVA - it's a killer. We have made regular payments which have been increased with the payrises we have received. I desperately want to have another baby and reckon I could get through a shortened maternity leave, however our childcare costs would increase significantly as baby would need to go to nursery full time. This would mean that an increase in childcare costs of approximately £400. Can anyone advise of the best way to prgress this, I am not getting any younger and still have just short of 5 years to go.

Have you discussed your plans with your IP yet? If not, I would do so to see what effect a payment break and possibly ongoing reduced payments would have on the return available to your creditors.

Under alternative bankruptcy proceedings would you have any assets which might be at risk from the claims of creditors?