can I legally give up work to care for my child

[willow.z]

Hi,

I entered an IVA 2 years ago, will enter my 3rd year in April.

I have just had a baby, due to return to work in July. I would dearly love to stay at home with my 2nd child, as I did with my first, is there any way I can do this?

I'm currently only on SMP, but I am fulfilling my payments to my IVA company, as they were slow in getting back to me about what to do when my incomings dropped, and weren't very helpful. My parents are helping me out until I go back to work but I feel as though i'm not being helped at all.

I am getting severely stressed out with it all, and end up crying everytime a letter comes through the door from them demanding an update on my incomings/outgoings.

Can you advise me on any options I may have at all? My main objective is to find out if I can legally give up work to care for my child since i'm currently on an IVA?

[Adam Davies]

Hi
You can give up work to care for your child whenever you want,there is no legal obligation on you.Your IVA will fail if you do not keep up the payments or come to an arrangement with your IP/Creditors,this will mean that you are back to square one and can look at bankruptcy or a DMP[presuming that your creditors do not petition for your bankruptcy]

[willow.z]

Oh really?

I was led to believe that it wasn't an option whilst I was legally bound to my IVA.

I have over £40k of debt, or possibly just under, would I *have* to think about a DMP or would I be able to file for bankruptcy?

I'm considering going back 30 hours a week instead of 39, i'm assuming in that case my IP could arrange a meeting with the creditors and see if they would accept a lower payment? Would the 2 years i've been paying my IVA count toward my debt also?

I do keep trying to ask my IP these questions but I always seem to get snubbed and "we'll get back to you" pops up a lot.

Thanks

[Adam Davies]

Hi
Yes,make no mistake about it,you are free to stop paying your IVA when you want to.You can also petition for bankruptcy whenever you want to.
Your IP fees will come out of the money that you have paid into your IVA and the balance distributed to your creditors but it will not make much of a dent.
Write to your IP and demand answers to your questions and concerns.
Are you with a large IVA provider ?
Regards

[willow.z]

Hi,

I have penned a letter to them, asking my options etc, I planned to reread it through, get my family to read over it and then send it off over the long weekend. But I was also told explicitly that I CANNOT file for bankruptcy while I am under an IVA, and I have to go through my IP.

I'm with Synergi, I pay out just under £500 a month and they had some fees at the beginning of my IVA and I made two payments via cheque before my IVA even started.

I don't know much about the bankcruptcy process at all, would I be paying for another 3 years minimum? I'm trying to work out if I can even consider staying at home with my child, although after childcare costs i'd probably end up having £0 anyway lol, Sorry for all the questions!

[AlanO]

Hi Willow

Hopefully the IVA provider will be able to modify the arrangement to an afforable level - However the infurence is there will be little available surplus once child minding costs are accounted for so bankruptcy or DMP may be only options if the IVA does not continue.

There are a number of experts on this site and I am sure they could go through an income and expenditure with you to review your options

All the best Alan

www.debtdr.co.uk

[lily]

Hello Willow.

I think you need to consider your options very carefully. It seems that you have not been fully informed by your IP provider as to all of your options. It shouldnt mean that youre sitting at home crying, and it makes me mad that you have been told that you cannot go for BR. If you have no assets then it may be the best thing for you and your children. Synergi have not had good press on this forum, they are not terribly helpful and seem only concerned with their own profits as far as I can tell.

There is nothing to stop you from petitioning your own BR, it costs around £500. You can fill in the forms online and book an appointment with your local county court.

Please dont worry, and dont be upset, if Synergi really had your interests at heart they would have helped instead of leaving you to cry and stress. There is always an answer to every problem. The way I see it, the welfare of your kids are priority.

Good luck

[willow.z]

Thanks so much for your replys.

They really aren't helpful at ALL, I felt pressured into borrowing from my parents (who's situation is now worsening because they are helping me), because they just kept saying they would "get back to me" about my SMP, and the fact i'd have £500 less a month coming in.

I have no assets whatsoever, I don't own a home, or a car, and am currently living with my parents. But as I said, I was told that I cannot go for BR without first going through my IP.

I will write to them and see what they have to say about it all, i'd happily file for BR, as I do not wish to have credit EVER again lol, and i'm not worried about "social stigma", i'm just unsure as how to go about it, or if Synergi will be straight onto me, shouting at me for doing so!

I would dearly love to stay at home with my new daughter and didn't think that would be possible until coming here.

[lily]

There is nothing to stop you from filling for BR, they are just trying to keep you in the IVA as they are earning from it. Dont let them bully you, I know its hard right now. What can they do??? How about TELLING them what youre about to do. see what they say.

They are in the wrong for giving you this incorrect information. As far as I know you shouldnt be borrowing money from you parents in an IVA anyhow. Go to www.insolvency,gov.uk and start filling in the forms online. Free yourself from these people and this burden, right now. Synergi give decent IP's and IVA comapanies a bad name. One more thing you can do if youre not convinced, go to www.IVA.com. and see the feedback Synergi have from their users.

Good luck Willow. Let us know how you get on.

[Adam Davies]

Hi
As Lily states Synergy have had poor press on this forum.
Have you anything in writing to say that you can't go bankrupt from Synergy ?
Regards

[willow.z]

I am going to go through all my paperwork and the contract I signed, i'm pretty sure I read it somewhere, but i've spent that long googling about it all, I may have gotten confused!!

Thanks so much for all your replies.

[lily]

It may be that you were vebally discouraged, which can quite easily be misinterpreted as not allowed.

[willow.z]

I have barely spoken to the same person more than once and my IP has already changed due to the "original" IP being on long term sick, apparently.

The only thing i'm confused about is that if I leave my job, I will have 0 income, apart from any benefits I might be eligible for, what will happen if I try and bankrupt myself if I have no money to pay any creditors?

It's all a bit confusing and I really don't want to approach my IP (or whomever I get to speak to) because they always fob me off or tell me I shouldn't do things!

[lily]

OK

Dont worry, the way it works is, if you file for BR, you will need to pay for this approx 500 pounds, I would advise not paying your IVA from now if this is what you have decided to do.

Fill in the forms and book an appointment with the court, the forms are long winded and do take some time. Book an appiontment with the courts, once the BR order is made your debts are no longer an issue. Then the OR will work out your disposable income, if youre on benefits basically there wont be any. If there is any disposable income then you pay a percentage of this over into an IPA. The rates and percentages are on skippy's blogg, I believe. It might help to read some of the bloggs on here to give you an idea of what to expect. Ie Scared kez (she was with synergi and coco, she too was with them. Skippy too was in an IVA first.

You could try speaking to synergi and telling them that you are recording the conversation, just to get things straight in your head, before TELLING them youre going to petition your own BR. I doubt they will say anything about not being allowed to on tape. You may even find they 'listen' to the concerns and stress of their client but then pigs might fly. Willow, you dont have to but its just courtessy on your part to inform them of your intention. You dont have to discuss it with them, its your right.


Make sure you fully understand the implications of BR, ie, will it affect youre employment in future. It is advertised in the local paper and the London Gazzette, but you would need to be looking for it to find it.

Good luck, and let us know how you get on. There is lots of advice and support here, you are amongst friends who will know how you feel.

[willow.z]

Yeah, i'm aware that the world and it's wife will be told i'm bankrupt lol.

The other thing is, I currently live with my parents, but I was told by someone representing my IP that should I move into a place with a future partner within the IVA duration, should I give up work/go part time etc for any future children/circumstances/loss of job etc, they will take said partners earnings into consideration to meet the pence in the pound.

I don't want to even consider getting into a relationship with anyone if this is going to be the case, it's hardly fair for someone to contribute toward paying off MY personal debt.