have been offered a holiday by parents

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deepinit

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Post by deepinit » Sat Aug 07, 2010 7:13 am
Hi all

We have been offered a holiday by my parents I am 8 months into my IVA, if we take up the offer we'd struggle for spending money I was wondering if I took a payment holiday of 1 month on my mortgage would I have to inform my IP ( I with payplan) or would I be best just to turn holiday down

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Julie

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Post by Julie » Sat Aug 07, 2010 7:29 am
Hi,

What a lovely offer from your parents! Your mortgage company would be aware of the IVA and would probably ask fro your IP's permission.

Why not explain to your parents about the spending money and see if you can delay the holiday until you have saved some spending money.

Alternatively is there any other way you can raise funds - sell unwanted items on ebay, do a car boot sale etc?

Good luck xx
 
 

Adam Davies

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Post by Adam Davies » Sat Aug 07, 2010 7:54 am
Hi
Sounds great.
I would not think that taking a mortgage holiday would be a problem if it is in the terms and conditions of your mortgage.
Best to run it by your IP as Julie says to be sure
Regards
Andam Davies
 
 

kallis3

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Post by kallis3 » Sat Aug 07, 2010 8:05 am
What a lovely gesture from your parents.

Daughter paid for us to go away last year. We went all inclusive so didn't need a lot of spending money.

Probably best to run it past Payplan though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Shining

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Post by Shining » Sat Aug 07, 2010 9:14 am
I am in the fortunate position you are at the minute as my MIL has paid for us to go on holiday in November, this is all inclusive, but I did do a car boot the other week and have a little savings plan going between now and then, it's very hard to maintain the budget but I've cut back on everything, we won't need a lot.

Hope you can get something sorted and do enjoy your break xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

deepinit

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Post by deepinit » Sat Aug 07, 2010 5:08 pm
Thxs for all the replys I've emailed payplan so should find out Monday if we're all off on holiday soon, it's amazing how things you've just taken for granted in the past now are so hard while in an IVA ( but that could be why I'm in one )
 
 

Shining

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Post by Shining » Sun Aug 08, 2010 9:16 pm
I hope you get a positive result from Payplan and do enjoy your holiday x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Julie

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Post by Julie » Sun Aug 08, 2010 9:41 pm
fingers crossed - everyone needs and deserves a holiday [8D] xx
 
 

flow13

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Post by flow13 » Mon Aug 09, 2010 9:41 am
My MIL has paid for our holiday in a few weeks. For spending we have done ebay and saved money from shopping budget. xx
Its now time to start living and to make some some wonderful memories!
Read my blog at http://flow13.blogs.iva.co.uk/ 'Aiming for the finish line'
 
 

plasticdaft

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Post by plasticdaft » Mon Aug 09, 2010 10:10 am
I wouldnt take a mortgage payment break to get spending money for a holiday,sorry to sound grumpy but what happens if you need to take a payment break for something serious? Better to save up some spending money 1st.

Paul
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MelanieGiles

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Post by MelanieGiles » Tue Aug 10, 2010 1:14 am
I am inclined to agree with Paul on this one.
Regards, Melanie Giles, Insolvency Practitioner
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