Freezing a Payment on IVA for Xmas

irishgeal1

This was something we've checked and rightly or wrongly there wasn't a section for these items or emergencies.

It's something we'll need to address.

PrettyKittyKat

Craig1981, IVA don't allow an expenditure for gifts/birthdays/christmas so I am extremely surprised you were allowed this! I saw thousands of IVAs in my time and none were allowed this. if one managed to slip through at proposal stage I suppose it would be able to stay on but certainly not added on afterwards or increased.

There are expenditures for things like sundries/emergencies/hairdressing/entertainment which my customers said they saved for xmas instead, or they cut back on their shopping bills to pay for xmas gifts.

Craig1981

PrettyKittyKAt - apologies - went find a I&E form my time in IVA = this was listed as £30 a month under "sundries"

OP - apologies for the confusion on my original post

Mermaid89

It's been said but we would not agree to include an expenditure listed as "gifts, Christmas" etc. it would simply be headed under sundries/emergencies etc. I know its difficult and an IVA is a commitment but please don't miss your xmas contribution, it will lead to more problems than its worth.

irishgeal1

Hi guys,

Thanks for the help on this.

To give an update our IVA practitioner came back to me on Friday apologising for any inconvenience
and saying they will freeze the payments in December as originally promised.

Whilst I got the outcome I originally expected starting to doubt if it'll have an impact further down the line.

Exodi

irishgeal1 wrote: »

Hi guys,

Thanks for the help on this.

To give an update our IVA practitioner came back to me on Friday apologising for any inconvenience
and saying they will freeze the payments in December as originally promised.

Whilst I got the outcome I originally expected starting to doubt if it'll have an impact further down the line.

Please don't go and bang out £600 on presents for toddlers

PrettyKittyKat

irishgeal1 wrote: »

Hi guys,

Thanks for the help on this.

To give an update our IVA practitioner came back to me on Friday apologising for any inconvenience
and saying they will freeze the payments in December as originally promised.

Whilst I got the outcome I originally expected starting to doubt if it'll have an impact further down the line.

It is wise to consider the longterm impact. Double check they is going as an authorised payment holiday and not as arrears, which will have to be caught up before the end of the term. I would be hesitant to use a payment holiday when it is avoidable so early on, you don't know what could happen in the rest of your agreement. redundancy, sickness, house move, more children, benefit changes, separation, significant car repairs are all things that could happen which potentially could be resolved using payment holidays to prevent having to go back to creditors or having to fail your IVA.

irishgeal1

We received a letter in the post yesterday and for what it's worth it is an official payment break not arrears. Missed month is being added onto end of plan.

Not going to spend it all on Xmas presents as I think i'll try to put £350 aside (give to a parent to set aside) for emergencies as in hindsight I genuinely think our costs submitted in July are very tight to the wire.

cheesedoffwithdebt

When I was in an Iva I started buying cards in the January sales and gifts during the year in response to offers and sales. It's a huge leap learning to manage money like this. As the IP offered wrong information can they not help at all however to work a compromise?