www.iva.co.uk

Hi all,

I am in the third year of my IVA and have just sent back details of my second review (albeit 6 months late but no complaints from IP).

I have just received news that I am getting a 10% wage increase. My wife works 2 days a week at the moment but my childcare (mother in law) will be unable to look my children from June onwards as she cannot face doing it anymore. Ying and Yang I guess here.

Looking at my new income/expenditure taking into account the payrise I will receive end of May there is enough money to allow my wife to stay at home and look after the children fulltime as we will save on childcare costs and travelling expenses into London whilst still maintaining the payments I currently pay.

How would this be viewed in my IVA? Would this be acceptable change of circumstance? Have others been through this before?

cheers

Hi zaza.

I think you need to run this past your IP, but personally I think you will be ok as you can maintain your payments.

If your wife remained at work then you would have to find paid childcare which would impact on your payments.

Speak to your IP.

It soundds like a plan, as Jan says run it by your IP and do let us know how it goes won't you? x

I would accept your argument, if I were acting as your Supervisor, but I guess the only one who can agree this is the person who is acting as your own Supervisor.

Give them a call to let them know your proposals - which common sense would say they ought to accept.