www.iva.co.uk

Just about coming to the point of getting our IVA proposal sorted and now my Wife has been given 1 month notice of redundancy.
We will not be able to make IVA payments on my wages alone so looks like Bankruptcy looms. Gutted as we thought that we had finally got our finances sorted.
Going to speak to IVA advisor in the morning after a very restless night

Hello Toooldskool & welcome to the forum

Im sorry to hear of your Wife's Redundancy & I hope your IVA company will be able to find a solution for you.
I know its really easy for me to say n hard for you to do, but try not to let it get to you this evening & see what tomorrow has in store.
There are plenty of experts on here that will be able to offer some excellent advice too.

Sorry to hear the bad news. It's an ever more common story with the cutbacks. What proportion of the debts were your Wifes?. It may be that the I.P can sort out something for you. Let us know how you get on.

Debts about 50/50
ironically she is an "employment coach" helping people back to work but with the benefit reforms coming, the contract on which she works is ending

Sorry to read this and when you've had a word with your IP let us know how it goes won't you? Wishing you all the best for tomorrow. If you wife can secure further employment within a time span they may be able to put your proposal on hold for a little while?

Welcome from me as well and I am so sorry to hear about the job loss.

Can you perhaps do a DMP in the meantime while your wife looks for another job?

I would recommend that you write to creditors and ask them to agree to a six month payment break to assist your wife in finding employment. Bankruptcy should be treated as a last resort unless you now feel it is a better overall option. I am finding that creditors are pretty sympathetic to redundancy notifications at present.