www.iva.co.uk

I have been in an IVA since November 2007 and Ive now found out I'm pregnant. Just wanted to know how we stand before I contact the administrator with the news as I very worried what they'll say. The Iva is set up on my partners wages as I'm a housewife. How would I get on claiming maternity allowance would that be used to pay for the IVA. We also have a 22 month boy who needs things as well.

Many thanks

Good morning Claire,

Thank you for your post and welcome to the forum.

Its so nice to hear baby news on the forum.Congratulations...


The procedure does allow the terms of the IVA to be varied to reflect a change in circumstances provided the creditors agree.

The Insolvency Act states that all people are entitled to a reasonable standard of living. The Proposal in no way affects the amount of Child Benefit or Income Support you receive. However this income must be taken into account when considering whether you are in a position to carry on with the monthly IVA payments since your living costs will increase.

Kind regards,

Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm

Hi Clare

You will need to discuss the implications on your happy news with your IP to see whether this will have any affect on your ability to continue with your IVA payments. Whilst you will probably received more benefits, these may not cover all of the additional expenses, so you should work out a new budget to see whether you need to reduce your payments. If this is necessary, your IP will have to put revised proposals to your creditors at a variation meeting.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi Clare,

Excellent advice from Julia & Melanie. Please don't worry about making that call, you will just need to establish whether the payments you are currently making are still realistic once your new arrival is here. If this doesn’t look possible it is more than likely your IP can put forward a variation meeting.

Kind regards

Nicola


Finebridge Ltd
22 Laud Street, Croydon, CR0 1SU
0800 180 4212
www.finebridge.co.uk

A big thank you to everyone who replied with some advice.

I have just one question if my case was put forward to my creditors could they refuse and then decide to make us bankrupt instead?

Many thanks

Claire