Hello.
I currently have an IVA, it has been running for nearly 3 years now.
I have just found out I am prenant and will be leaving work for 9 months in Dec to go on maternity.
What will happen to my payments when I am on maternity? My wages will go down to £400 per month and at the monent I pay £325, do they do payment breaks or will I have to go bankrupt?
You should be able to get a payment break from your IVA during your maternity leave.
Give your IP a ring.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
You will need to work out a budget for when you are on maternity leave and when you return - given that your expenditure will also increase, to see if it will be viable for the IVA to continue.
Congratulations by the way - babies are far more important than paying off a few debts!
You will need a payment break, possibly by way of a variation. Discuss with your Supervisor (IP) and I am sure the matter can be sorted out.
Congratulations from me too.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
