Payplan, am I allowed to take a year off ?

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sue.33

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Post by sue.33 » Mon Sep 13, 2010 3:35 pm
I have been in an IVA for 1 year with Payplan, I am now 7 months pregnant & looking to take a year off work on SMP @ £125 per week. Am I allowed to take long off? There is also talk that there may be redundancies early next year, how will this affect me, should I just give up be made bankrupt now??
 
 

kallis3

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Post by kallis3 » Mon Sep 13, 2010 3:46 pm
Hi, welcome to the forum and congratulations on your pregnancy.

I know you should be able to take a payment break, but this is something you need to take up with Payplan.

Do you have any assets that would be at risk if you decided to go bankrupt?
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.
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MelanieGiles

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Post by MelanieGiles » Mon Sep 13, 2010 7:21 pm
A payment break of such length would need to be sanctioned by your creditors at a newly convened creditors meeting - and if there is some doubt that you could start payments again at the end of the break then you should carefully consider whether the IVA really does have a future.

Your own IP ought to be able to advise on specific areas.
Regards, Melanie Giles, Insolvency Practitioner
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