been told not to pay the creditors

[OPTIMIST12]

The normal thing is to pay 50% of any Overtime / Bonus Payments into your IVA "Pot". You get to keep the other 50%.

[scaredkez]

be careful when the company says they can do a dmp as they still take a huge % of your payments, be sure in your head and heart if the iva doesn't go through which i am hoping it will you make the right choice a dmp should only be considered short term!
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[63k]

Thanks!c As you can see we have a huge amount of debt there, 63k so a dmp might not be suitable...but not sure if we can go bankrupt as my husband has a v good job..confused about all the bankruptcy stuff, but fingers crossed this iva will go through!

[scaredkez]

we had a hold your breath 100k debt, why would hubby lose his job? who would know, just want you to think of all options
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[OPTIMIST12]

I am sure that an IVA would not have been recommended if your IP did not think it had a good chance. I would get the process going asap by sending your forms back (Royal Mail permitting) and then you can spend some time carefully thinking about your "Plan B" like scaredkez suggests.

[scaredkez]

no i am sure an iva wouldn't have been proposed if your ip hadn't thought it had a good chance, mine said the same, laughable, but hey i chose the wrong ip, its always good to have a back up plan and be prepared for what ever out come that is the most important thing i have learnt through my debt journey, as after all i done all 3!
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[mikebdomain]

63K you ARE paying any secured creditors aren't you?

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[hallway]

just to say good luck with your iva i too was with baines and earnest they passed me on to Blair Endersby and so far 7 months in theyve been great.

[63k]

Thats comforting, no none of the debt is secured! I am off to post the docs today. I had rang a few people inc melanie for advice and to see if it would make any difference, but as I have it all up together then I shall go with them.
Thanks everyone for the advice.

[Adam Davies]

Hi
Stick with your IPs advice and do not waiver from it,no matter what.
It will make no difference to your IVA one way or the other and will give you a chance to get upto date with utility bills etc.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Jo Rolland]

If your IVA fails you do not need Baines and Ernst to deal with a DMP for you. You can do this yourself or through a non fee charging company.

Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk