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Hi. I am new to the forum.I am in my third year of my IVA and it is solely in my name.Nothing to do with my husband at all. However he may be facing redundacy later in the year. Will this affect my IVA in any way? I will still be able to pay my payments as i have my own income.

Dear Monika,

If your IVA was set up on your sole income and expenditure and you are confident you can still maintain your repayments then there will be no affect on your IVA.

However if you find that you are required to contribute more towards the household expenditure due to your husbands redundancy then I would suggest you contact your IP and discuss the options available to you.

I hope this helps.

Thanks for that,Was worried that they may ask for some of his redundancy pay.

No worries glad to have helped.

The redundancy pay is your husbands and as he is not party to the IVA this is his money and i am assuming he will need this to live off until he finds suitable employment.

Take care

Hi Monika
Just a thought, if your husbands redundancy is reasonable and he finds work again soon you may want to consider offering a lump sum to conclude your IVA early
Regards

Hi Monika and welcome to the forum, nothing to add to the excellent advice above, just a welcome x