Help - BR and Possible Redundancy

Charlie1402

My husband was declared BR in Nov 2011 and has been discharged but still paying £155 pcm to the OR. He has been told that he is likely to lose his job within the next few weeks. He hasn’t been with the company long enough to qualify for redundancy. Would he be able to contact the OR to reduce his payment?

I also entered BR in Feb 2013 and currently paying £158 pcm to the OR, would I be able to request my payments be reduced aswell as I will need to cover my husband’s share of the mortgage whilst he’s unemployed?

Obviously once he gains employment again, we will make the original agreed amounts, I just wondered if given the circumstances we would be able to do this.

Our lives have been abit of a rollercoaster over the last few years, quite happily plodding along paying our bills/debt. Both of us then got made redundant, whilst I was pregnant – took months to get new employment so debt just spiralled out of control.

alastairq

hi....welcome!
Re- your husband's IPA?

The OR needs to be informed of any changes in circumstances , when they occur.

Essentially a new SOA is agreed upon, and the IPA amount varied up, down, or zeroed altogether, depending on the agreed surplus.

If the IPA goes to zero, months spent at this rate count towards the three years.

The same happens with your own IPA.


If your OH re-gains employment, his IPA will be adjusted to suit the new, agreed surplus.. [ie another SOA].....perhaps yours may need adjusting at the same time...?