Money- advice please re IVA and missing a mortgage payment

[cheekymonk]

Hi There,
I am just doing our budget for March and we are behind with some bills and it wouldreally sort us out and get us back straight to miss paying the mortgage next month. We are with Northern Rock and they offer payment holidays but trouble is we have an IVA. We have talked to IVA people about having a payment holiday before as they say they have to agree it. Trouble is they don't want to agree it and would rather us miss our IVA payment, saying paying the mortgage is most important as obviously that is the way they will get majority of money back (remortgaging).
I am so tempted to just not pay mortgage next month. We haven't missed any payments and will get straight back on to it for April. I wonder if we will get away with it and have missed payment added to end of mortgage or if they will expect double back next month.
I know, what a mess, how irresponsible you are all thinking but its survival at the end of the day.

Any advice anyone? WOuld be very grateful x

I know absolutely nothing about this. But I would imagine (from my uninformed position) that going against what the IVA people say would be unwise. Why would you prefer not to pay mortgage rather than IVA?

Good luck, and hopefully someone in the know will be along.

Thanks bozza. Not paying IVa only gives us £225 to play with which is not enough to catch up. We could combine this and not pay some bills again this month as from April we should be better off when nursery funding, payrises etc.
Thanks for answering.

So I guess your mortgage is quite a bit more than that? I see your problem now, but still not sure whether it is right thing to do. Isn't the IVA meant to be set at an amount that is realistic for you to afford?

Which bills are you behind with?

I would pay my mortgage before any other bills. Your mortgage keeps a roof over your head, is it really worth jeopardising that?

I think the mortagage company would expect double next month so it would just be delaying payment.

Yes trixy,alixy I hear what you are saying. Mortgage is £822. Behind with gas/electric owe £188, water, mobile and some payday loans we foolishly took out.

We have been in similar situation when DH was off work, we missed 2 mortgage payments which I think we have to catch up on rather than be added onto the end, and obviously charges related to that. I would avoid nearly every other bill TBH and try and pay the mortgage, the worst the others should get is reminders. Or at least ring them and see if you can pay a gesture payment? We did this with our loan, payed half for 2 months.

Definatly don't just not pay them... even something like £100 this month as I said like a gesture might be OK.

Sorry I keep posting, should leave aminute before I click 'post' as I keep adding more - would it help to go to intrest only for a little while on your mortgage?

Hadn't thought of the the idea of a gesture payment and hadn't thought about charges either...shows how desperation stops you thinking clearly! Not sure if IVA people would let us go interest only but could be worth investigating. Thanks for your help/ideas

Also are you suggesting gesture payment with mortgage or bills or both ladyofwaffle?

Can you really not manage to pay everything or if you really tightened your belt for a couple of months then you would squeeze by?

If it really is a case of letting something slip then please please pay your mortgage.

Is there an option to take a payment holiday on your mortgage? Some banks let you do that.

Am waiting for IVA people to call me back and have decided to do things above board. Couldn't live with myself if we lost our home.

Have just requested app form to apply for interest only mortgage so am trying to sort things out. IVA people want to see our current income/expenditure so will get on with that...Thanks everone for your advice

Hope it works out for you cheekymonk!