Posted: Sat Jan 20, 2007 1:39 am
My husband and I started our joint IVA back in November 06 and desite being worried sick about it being rejected the proposal received a unanimous YES from the creditors.
However, just as we thought we were on the road to a debt free life my husband was informed in December that he had been made redundant. I do not bring enough money in to cover all the debts and had visions of the IVA swallowing up most of any redundancy pay he was entitled to. I phoned my IP and he was extremely sympathetic to our situation and assured me that the money was ours to live on for the length of time my hubby is unemployed and that the creditors cannot touch it (unless of course he gets a job instantly in which case obviously they are entitled to a share). I was so relieved and thankful to him for his help and advice but then I suppose that is what I'm paying him for!
Hope this sets other people's minds at rest who may be in same situation. Thanks for the fantastic support I have received from reading these forums - I have learnt so much. [xo]
Kitkat44444
However, just as we thought we were on the road to a debt free life my husband was informed in December that he had been made redundant. I do not bring enough money in to cover all the debts and had visions of the IVA swallowing up most of any redundancy pay he was entitled to. I phoned my IP and he was extremely sympathetic to our situation and assured me that the money was ours to live on for the length of time my hubby is unemployed and that the creditors cannot touch it (unless of course he gets a job instantly in which case obviously they are entitled to a share). I was so relieved and thankful to him for his help and advice but then I suppose that is what I'm paying him for!
Hope this sets other people's minds at rest who may be in same situation. Thanks for the fantastic support I have received from reading these forums - I have learnt so much. [xo]
Kitkat44444
