www.iva.co.uk

while i am thinking of doing a iva can i take out a private pension with a bank or anybody that deals with pensions thinking of putting money by for when i reach 65

JOHNPAUL

It is unlikely that you will be allowed to start paying into a private pension during an IVA.

If you already have a pension in place you may be able to continue paying into this but creditors may ask you to suspend the payments for the duration of the IVA.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

thanks oliver does this apply to work pensions as well

JOHNPAUL

Yes. Work pensions are a bit of a lottery, but I would say on the whole the vast majority of our clients get to keep their work pension payments in their expenditure.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Hi there

I have a private pension through work and I was told that probably I had to stop the payments towards it.... I have been lucky though...

I was also told that it depends of how much you are paying into your pension..
The company I work for pays quite good part of it... I give £20 at the end of the month..

thanks oliver i think i will stick with my works pension which i pay £40.00 per month for at this time
would my creditors object to me paying more money into that rather than taking out a private pension with i say a bank as a top up

JOHNPAUL

It depends upon your age to be honest. If you are nearing retirement then you have more chance of getting increased pension contributions accepted. If you are in your twenties, with lots of years left to catch up, then little or no chance.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

hi melanie i am 36 years old

JOHNPAUL

I think your creditors would take a dim view of you looking to inrease your pension arrangements before in whilst in a an IVA.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

hi oliver what i am thinking is puting £20 per month extra into it for 3 years then give the creditors that £20 per month i was puting in to my pension in going into the 4th year and year 5

JOHNPAUL

John Paul - you are a mere youngster!!!

I fear that this will not be acceptable to creditors - and what is the point of paying such a small amount into a pension for three years and stopping it in years four and five?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

hi melanie changed my mind now

JOHNPAUL

I was paying £35 a month into my pension (being paying it since i was 16!!!) and my creditors said I had to stop!! (luckily my parents took it over)
You might not even be able to carry on paying your present £40 John paul let alone add more to it !
(p.s 80 posts in 2 days John Paul...I think you have nearly overtaken Melanie!!)[:)]

hi jpj been told by freeman jones that i should keep paying it i show my wage slips it said as long as it not one from a bank that will be alright credits these days dont mind you having company pensions

JOHNPAUL

i was only told this yesterday jpj company pensions are not a problem with creditors

JOHNPAUL