Hi there, please can someone help as I can't seem to find answers for my problem. I'm almost three years into my iva which is going well. My ex has recently told me she has had a baby and it's mine. Absolute bolt out of the blue! We aren't together anymore but inevitably she is going to want and be entitled to money, should the child turn out to be mine. I really don't want my iva to be affected but how will I realistically make future child support payments? What are my options and would I be able to include these payments when I do the expenditure form at the annual review? Surely someone can help me on this one?
At the end of the day it will all depend on the figures and whether creditors will accept a reduction in IVA payments to cover child payments, as well as the nature of any order in this regard.
You are three years in ... by the time the child arrives and arguements about maintenance are settled you will be around 4 years in so the creditors will stand less to lose and may be more ameniable.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Child maintenance will take priority over all other debts.
It is possible to make a private arrangement but it would have to be in line with https://www.gov.uk/calculate-child-maintenance for it to be acceptable to the IVA company and your creditors.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Ho thanks for your advice. I should point out though, she has already had the child though and should it prove to be mine, I am wondering where I go from here. Will the fact that I'm in an iva determine how much maintenance she will receive? Also would i be able to reduce my expenditure on the budget to allow for payments to be made to her? At the end of the day, I simply don't have the money to pay child maintenance but really don't want my iva to fail.
In terms of amount, as an example if you earn £20k a year and only have the child less than 52 days a year, you would be expected to pay £46 a week.
Child maintenance will take priority over your IVA.
It will be expenditure that is counted by your IP but whether the IVA becomes unviable is based on how much you are paying.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
I earn 23 k and currently pay just over 200 pounds to my iva monthly. If I have to pay over 200 per month csa then there would be nothing left to pay iva. I guess my question is...would my iva have to end or could I try and find the money from elsewhere...eg family member....or severely cut back on my own budget...ie no gym and cycle to work instead of car etc. I really don't want my iva to fail.
Rather than having your child maintenance as an expense, would there be an opportunity to have this as an attachment of earnings? Given the change that would result in your income a variation meeting could be held. You are not alone in having an IVA and a commitment to child maintenance
Personally I don't think it will make much difference as it makes a difference to your income either way.
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
Okay, but would a third party be allowed to fund the csa payments whilst I'm in the iva by transferring the money to my account on a monthly basis? I.e my parents....
You would need to discuss, explore and pre-arrange this with your IP, who should see the need to preserve the viability of the IVA, rather than count this as 'extra income'.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
