Do you honestly believe the bank will go through every single persons account to see what they are spending there money on? Business expenses will not be much different from you normal living expenses in your line of work. I think maybe they are trying to get you to take out a business account which...

If you already have an account with them, they will not know how you will use your account, as long as you have money in your account and use your account sensibly ie not going over drawn etc they will be quite happy with you, who did you speak to at the coop? was it a call centre staff a counter pe...

Hi, As you are going to be trading as a sole trader you do not need to have a business bank account, you personal account will be fine. You also do not need to have a company name. Just make sure you keep good records of your business income and expenses, the better records you keep, the less work y...

I have gone down the DMP route with payplan who does not charge you a fee for DMP and we have been with them since April and so far the creditors I have has done the following: - Sky Card £ 3560 – frozen interest Barclaycard £ 1480 – frozen interest Barclaycard £ 780 – frozen interest Argos card £ 8...

That’s what they have done to us, we had a letter yesterday with the forms to sign and send back, we did not ask for the loan or they did not ask us whether we would consider a loan, when they rejected the offer they have not phoned us since (from 3 phone calls every single day since April to no pho...

Thanks for the reply, i have not got the details at hand but i worked it out yesterday that it would take around 4 months longer to pay the debt back with this loan with the repayments they accepted, compared to the length of time it would take to pay it back if they froze the interest rate for the ...

Sorry let me try this one again! Im currently in a DMP with payplan, been with them since April, all of my creditors have agreed to my monthly payments and have frozen all interest except for HSBC who are my largest creditor and between the loan, overdraft and credit card makes up around 50% of my d...

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After speaking to the institute there are no rules stating that you cannot be an practice as an accountant whilst on an iva, however some firms do credit checks on you when you apply for jobs and this might go against you, but you are able to practice whilst being on an iva. I also found out today t...

Thanks for all the advice. There is no way I could let myself go down the bankruptcy route as I will lose my job, I am training as an accountant.

Hi Melanie, Yes I wanted to pay them back every penny I owed, I was hoping to increase my payments to £ 420 per month when my pay rise come through but unfortunately I had the option of opting out of the pay rise or be made redundant so I opted out. As a result it’s going to take a lot longer to pay...

Hi, I do own my own home but I am in negative equity at the moment. When I applied they told me I had two options of either an iva or a dmp. I decided to go with a dmp but its not going the way I planned. I started with payplan at the end of april, and have made three payments, so far only two credi...

Hi all,

My partner and I are currently in a dmp with payplan, we are paying £ 309 per month. Our total debts are as follows:

My Partner: 19,870 – 3 Creditors
Myself: 12,240 – 6 Creditors

Do you think we would be considered for an interlocking IVA?

Many Thanks

Lee