www.iva.co.uk

We are currently in an iva we have until October 2014 and then hopefully our five tears will be up. We owed roughly about 70,000 and we are paying over 900 a month. We want to adopt a child will we be able to or will this count against us?

Welcome to the forum. Adopting whilst in an IVA should not be an issue, however I understand through personal experience the adoption process will look into your financial situation. We were told when we considered this route that it would not hold us back in the process, however were encouraged to do this once the IVA payments had ended and all household income was then available.
Taking into account the time it takes to go through the adoption process it might be worth talking to the local authority/ adoption agency and expain....there could be different conditions in your area.

Let us know how you get on.

Hi and welcome,

Hopefully it won't be an issue but do agree that you should speak to your local adoption agency.

Good luck with your application.

Welcome to the forum from me too and I certainly hope that the IVA won't hinder your plans to adopt. All the best. xx

Your local adoption agency are the only ones who can answer your query. While many see no problem with it some agencies may see it as a money making scheme(rightly or wrongly). Be upfront with them, perhaps a letter from your ip stating that you are complying fully with the terms of yoyr iva may help.

Certainly dont put plans like this on hold. Adopting can be a fantastic experience.

Paul

I don't see it as a money making scheme as, once the adoption goes through, you're on your own with only possibly child benefit and/or tax credits.

Fostering is another matter - you get paid a fair amount to foster a child so they could well see that as money making.

I guess the answer to this question is that it should not, but I do think that different policies have different ideas about suitability.

Adopting a child is one of the most rewarding and selfless things any couple can do, to give a warm and loving home to a vulnerable child who needs this. I can understand why authorities would be concerned about financial stability, but as you say the IVA will be over next year. Personally I would start the ball rolling now - your IP can help by providing a character reference for you if your payments have all been made in accordance with the terms - and once the IVA has concluded you will be debt free - what could provide better financial stability than that.

My very best wishes to you and I do hope that you are accepted.

I agree with Mel that you should consider getting the ball rolling now.

All the best of luck and let us know how you get on

I would also advise getting that ball rolling now -- the process is not a short one and will probably outlive the balance of your IVA in any case!