What happens if you get married or have children during your IVA term ?

[Jamie.jk]

What happens if you get married or have children during your iva term? Can payments decrease due to increased expenditure?

[Michael Peoples]

Five years is a long time and changes do occur. An IVA will not put your life on hold and the payments can be changed throughout the agreement. You just need to keep your IP informed.

[lem]

Michael is right, noone can expect you to put everything on hold for 5 years, my life is very different now to what it was 5 years ago, an IVA is fortunately flexible enough to understand that significant changes can happen and this is why it is so important to find an IP whom you have a good relationship with so they will work with you over the term of the IVA if you face changes which can impact on your repayments.

[orange]

hopefully you will have supportive ip ours were rude and unhelpful when i was pregnant and there was no reduction

[Shining]

If you're not already in an IVA do discuss this with your proposed IP and ascertain their views on this before proceeding. x

[Niobe]

Don't put your life on hold. If you want to get married and have a family then go for it, just keep your IP in the loop.

[MrsKnight]

Hi
As living proof of having a baby in an IVA unexpectedly to say the least, the answer is a positive Yes. I used to think your life is in hold for the duration, but 5 years is along time. It's not easy but then raising children never is. But your IVA company won't penalise you for doing so.

[TheArtist]

Strongly agree with Niobe. In fact all the posters. Your IVA should be flexible enough. Go for it. [;)]

[plasticdaft]

My grandad once told me that if you wait until you can afford to have children you would never have any.

Dont put life on pause to sort out debts.

Paul