Hi there. i took out an iva in nov 06 when my circumstances were different and i was living at home. i have now met someone and we are hoping to move in together next year but i would need to give up my job to look after his children as childcare would be too expensive. My partner does not earn enough that he would be able to pay so what would happen to my IVA? Would i then be made bankrupt? Thanks for your help. I am just worried that i cannot live at home forever and need to move out but will not be able to afford it.thanks
There are realy only two options if the IVA cannot continue under in your new life (congratulations, by the way). Bankruptcy or a DMP, if you have enough income to service this. It is unlikey that you would be made BR if your IVA should fail through non payment.
The very best person to advise you would be your IP.
