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Hi my IP has just presented my IIVA the creditors have given a provisional rejection because they want to know we will pay when our children reach 18 and child tax credit and child benefit end which will be in 2years time I also have other benefits is this usual will they accept my IVA

I have to say that I have not come across this particular conundrum before. Hopefully someone else can come along with a more useful reply.

I've not known that either.

I have heard of this before - a creditor being over-cautious thinking that maybe the IVA would fail part way through as income level drops. In my experience, once the debtor has assured the IP/creditor that they will manage to maintain payments even in the changing circumstances, then it tends to go through. I think on one occasion the debtor was able to provide details of a family member who would guarantee continued payments.

What is your answer to the question about how you will manage? It’s a good question to ask, better find out now than sign up and find you have big problems in a couple of years. Too many IVAs fail then you are left back with the debts after 2 stressful years for nothing.