www.iva.co.uk

Hi all! Just looking for some advice if possible, I am currently 20 weeks pregnant with our first child, we are 4 years into our IVA and aim to finish June 2016! Im hoping to working right up until my 37th week of pregnancy, I then will be on maternity leave for 9 months meaning I will earn statutory maternity pay and obviously child benefit which everyone is entailed however due to last years earnings we won't get any form of child tax (27000 before tax for one child before you can claim) my husband remains in the same job and wage shouldn't change, I'm just a little worried that it might fail because we can't keep up with our current payments will they go over our income and expediture with us and help us work out a new relistic figure to pay! When I have rang my IVA company they said just to get in touch nearer the time. I'm obviously very worried about this as I don't want this IVA to fail! Many thanks for reading!

Hi Michelle, I fell pregnant with our third child right in the middle of our iva. I went down to statutory maternity pay, and was also very worried it would cause a problem. I was with PJG at the time who were brilliant. You may have the option of taking a payment break, and then adding the missed payments on at the end. Or, I actually had an agreement with them to just pay as much as I could over the period I wasn't working, and let arrears build up. I can then chip away at it, or add a couple of extra payments at the end. As long as your arrears do not equal more than 3 months payments in total, I was told that was ok. Do check your own proposal though, and speak to your IP, as they say nearer the time. Good luck, and congratulations!

This is not uncommon and a payment reduction or break would seem appropriate. There will be changes and a new I&E will need done but creditors are usually sympathetic to these situations.

Thanks for all your replys!! I was just wondering if these were the only options we really didn't want a payment break or to add it on at the end we wanted to complete within the 5 years!! At first our payments were 215 however due to my husband getting a better job we know pay 483 could we not just reduce our payments or does it have to be we take a payment break? Thanks again

I might be wrong, but I'm sure that if you complete a new I&E when youre on maternity, and your disposable income shows as more around the first payment figure, you should still be ok and not incur arrears, as this is the minimum amount agreed by the creditors in your original meeting. You shouldn't be penalized because your husband got a better job!

Thanks so much for all the advice Lou! Feel a lot more comfortable about maternity and hopefully I'll start enjoying it instead of stressing lol!!

Hi

I think it would be fair to reduce your payments in line with your disposable income and not extend the IVA
Let's hope your IP has the same view

Regards

Your IP can reduce the payments to the original level without creditor consent and without an extension. Any further reduction may need another meeting although there is a possibility that the IP could reduce the original figure by up to 15%.