Considering an IVA

Me2009

Hi all, im new to this site so would just like a bit of advice please.

Me and my husband have about £33,000 worth of debt between us. After speaking to CCCS we have been told the best option would be an IVA, there are a few things that were not sure about though.

My husband works full time but through an agency, so he hasnt got a permanent contract, if the agency decide to lay him off they can with no notice. I currently dont work as Ive just had our second baby, but am looking at going back to full time as soon as.

We are currently on a DMP with another company but they take monthly fees from the money we pay them to give to our creditors, which is why we are looking to work with CCCS instead. At the minute we are paying out £318 a month and have been told that it will stay around this figure should we decide to go ahead with an IVA. At the mo we can afford to make these payments even without me working as i get benefits, but the thing im worried about, is if we go ahead with the IVA we cant fail on these payments, and my husband was to lose his job we wouldnt be able to make the payments, do you think its worth going ahead anyway? The risk of him being laid off isnt great but its still a possibility that we have to consider.

Also, has anyone got to the last year of an IVA and had to re-mortgage their house? This is our main other concern as we dread losing the house, especially with two kiddies to bring up.

Any advice you can give about IVA's and whether it will be good for us would be great, as i like to do my research before i commit to anything!!

Thanks

RAS

If you asked CCCs to arrange a DMP for you, I would be surprised if they did not agree to do so.

You might want to ask them why they recommend an IVA when your husband's job is not secure?