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Im in the early stages on trying to sort out a IVA Im getting tax credits at the moment but theses will stop when my daughter is 18 in the summer. What difference will this make to my monthly payments if iva accepted

Hi mark

You must make sure that the IP acting for you provides for this reduction in benefits within the proposal documents. So you can pay higher payments for the first few months, but that these must reduce in proportion to the loss of this benefit from the summer onwards.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk