I am in my 3rd year of my IVA and my wife is pregnant with our third child

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Matt.rs

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Post by Matt.rs » Wed Jan 20, 2016 8:06 pm
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I am in my 3rd year of my IVA and my wife is pregnant with our 3rd child. When I tell my IVA company the news what can expect from them. Will this change the payments slightly as it will be an extra cost.

Many thanks
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Michael Peoples

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Post by Michael Peoples » Wed Jan 20, 2016 9:49 pm
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Congratulations on the new addition and this is quite commom. Speak to your IP and they can adjust the payments tp reflect affordability. If the payments need reduced by up to 15% the IP can sanction it but any larger reduction would need creditor approval.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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Lisa Thomas

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Post by Lisa Thomas » Thu Jan 21, 2016 9:36 am
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Hi Matt - congratulations! I agree with Michael's comments - liaise with your IP.

Can you explore the possibility of a family member or friend perhaps gifting you a lump sum to settle the IVA early...?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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