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Iva - more than one payment break??

Lauramags64
Lauramags64 Posts: 14 Forumite
Fourth Anniversary
edited 15 March 2021 at 10:06PM in IVA & DRO
We had a 9 month payment break with my baby. We've got 2 years left on the IVA and I've just found out I'm pregnant again. Will we be allowed another payment break or will the iva fail??😫

Comments

  • MrFrugalFever
    MrFrugalFever Posts: 1,301 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    9 months is normally the maximum term during an Iva and is then extended so you end up paying 69 months in to the agreement. You would be best to speak to your IVA firm and discuss future issues, they’d most likely request an I & E review. Remember they’re trying to help and failure results in less money for them.
    If you believe you can, you will. If you believe you can't, you won't.

    Secured/Unsecured loans x 1 
    Credit Cards x 8 (total limit £55,050)
    Creation FS Retail Account x 1
    Creation Credit Sale 0% x 1 = £112.50pm x 20 mths
    0% Overdraft x 1 (£0 / £250)
    Mortgage Outstanding - £137,707.00 (Payment 13/360)
    Total Debt = £7,400 (0%APR) @ £100pm - Stoozing

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