Partner lost job while I am in IVA

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AJ33

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Post by AJ33 » Fri Jun 29, 2018 1:26 pm
I am in year 6 of my IVA and my partner has just lost her job... is this likely to affect my payments going forward?

MerlinL14

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Post by MerlinL14 » Fri Jun 29, 2018 1:33 pm
Most definitely. She would have made up shortfalls and bill payments during your IVA so you need to inform your IP that you are now the sole earner and you will require to complete another I&E. Do you have much longer to go or are you only just at the end of year 5 payments?
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues

AJ33

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Post by AJ33 » Fri Jun 29, 2018 1:40 pm
Thanks for the reply... I think I have around 10 payments left. Currently paying £424 but that will be a struggle with just my earnings and household bills etc...

Foggy

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Post by Foggy » Fri Jun 29, 2018 2:41 pm
As her contribution to household expenses will be reduced yours wil have to be increased to make up the shortfall -- this will reduce your disposable income. As Merlin says, a new I&E woud be in order.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

MerlinL14

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Post by MerlinL14 » Fri Jun 29, 2018 6:17 pm
With 10 payments left AJ33, I would definitely tell them and get a new I&E filled out and sorted.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues

AJ33

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Post by AJ33 » Sun Jul 01, 2018 11:50 am
Thanks for the info guys, I will ring McCambridge Duffy in the morning.

AJ33

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Post by AJ33 » Mon Jul 09, 2018 4:29 pm
Spoken to McCambridge Duffy and they have postponed 2 payments for me, and they will be added on at the end. If my partner hasn’t got a job in the next 2 months they said they can write to the creditors and ask to settle as I have completed the 5 years and am now in year 6...

Is this the norm?

Thanks again

Foggy

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Post by Foggy » Mon Jul 09, 2018 4:50 pm
AJ33 wrote:
Spoken to McCambridge Duffy and they have postponed 2 payments for me, and they will be added on at the end. If my partner hasn’t got a job in the next 2 months they said they can write to the creditors and ask to settle as I have completed the 5 years and am now in year 6...

Is this the norm?

Thanks again

Your IP is being helpful ... should be the norm, but not always the case across other firms in the industry!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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