End of 2nd yr IVA, change of Circumstances...ADVICE PLEASE!

sillysausage1977

Hi,

Could someone please give me some advice/reassurance please on our situation.

My husband only is in an iva, we are just coming up to the end of the 2nd year of payments. Shortly by next month we will get the paperwork from Paypal ready to start our 3rd year.

Our circumstances will have changed a lot by the time our January payment comes out as I'm due to have twins in Jan '13. I will be on Maternity, plus when I go back I will only be working 2 days a week.

We can afford to pay our December payment but after that I have no idea as to what we can afford to pay till the twins arrive and we know what benefits we are entitled to, what maternity pay I will receive etc.

I did contact Paypal a few months ago informing them of our impending change and they just said to ask them for a change of circumstances form at the end of November.

Does anyone know, will they give us a payment holiday until we can sort our finances out say in 2 or 3 months time? I'm really worried at the moment as until things are sorted out I have no idea really what money we will have spare :eek:.

Any advice or knowledge in this area would be gratefully received!!

Thanks.

UpToMyNeckInIt

Hi sillysausage,

Congratulations on the upcoming additions to your household.

This is going to markedly affect your household income, and what your husband can afford to pay into the IVA.

Best he speaks to his case handler at Payplan ASAP - like tomorrow, to get payments amended, if it really cannot wait until his annual review. You might have to fill out all sorts of income/expenditure paperwork, so the sooner he makes that call, the sooner January 2013's payment cna be reduced to something affordable.

His IP should be sympathetic to the situation, and I am sure that a revised monthly payment can be agreed.

Very best of luck, and let us know how you get on.

sarah222

I was in an IVA finished last month and roughly half way thro we had a blip and couldnt afford payments I spoke to them and they agreed for us to miss 2 months then and just add them to the end of the term which we did. I gave us breathing space and time to see where we went from there. As I said we have now completed the IVA and are awaiting our completion cert. Best to talk to your husbands IP and explain again.