I entered into an IVA with Blair Endersby in September 2009. The first month I entered into the IVA my wages increased and I subsequently paid over £100 more than the original agreement. I have not defaulted on any payments since the beginning. I fell pregnant last year and have just had my little girl and I am currently on maternity leave. It has been agreed that I would take a payment break for six months during my maternity leave as I only receive SMP. I have worked out my income and expenditure if I returned to work full time/part time and my surplus income would fall way below my original payments i.e. my payment were £373 but I would only be able to pay about £100 per month. I have read that IVAs will only continue if you pay at least £200 per month minimum. So my question is should I just petition for my own bankruptcy now and save myself arguing impossible repayments if/when I return to work ?
Any advice would be appreciated as I dont seem to get a straight answer from my IVA company.
Hi puddycats and welcome to the forum. Firstly congratulations on the birth of your daughter. I would have a word directly with your IP in respect of the best way forward, we do have a poster from BE on site and hopefully they will pick up on this and get you the straight answer you require. Our other professionals will also be along very soon I'm sure to offer their valuable input. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I agree with Leslie. Do not do anything rash until you have spoken to the IP company. It is not in anyone's interest for the IVA to fail at this time and hopefully it will not need to.
