I hadn't noticed that Paradise but now have seen what you're referring to and that is how it's marketed so I guess is why peopele assume they're going to have x amount of debt written off. x So I guess from this then that it is correct and I am to pay off all my debts back! This is fine but does it...

I think that you have completely misunderstood the nature of an IVA Alastair. The spirit of entering into such arrangement is that you pay back as much as you can to your creditors over an agreed timescale. Surely that was your absolute intent when you borrowed the money in the first place - when y...

The extra will be fees. As Lesley says, your interest will have been frozen. I know my interest was frozen and I fully understand the fees ( you don't get something for nothing! )however I would of been able to pay back the debts by now anyway if I was paying the amount I am currently paying per mo...

The extra will be fees. As Lesley says, your interest will have been frozen. I know my interest was frozen and I fully understand the fees ( you don't get something for nothing! )however I would of been able to pay back the debts by now anyway if I was paying the amount I am currently paying per mo...

You're over half way through now, and at the end will be debt free. You can also take satisfaction that you will have paid your creditors back in full, something that most of us on here won't be able to say. If you'd have done a DMP you could have been paying it off forever, and I presume bankruptc...

I have been in an iva for 33 months and by the end I will of paid more back than my original debt! Also my credit rating before the iva was excellent and now it is as bad as if I had been de-cleared bankrupt. This can't be correct? Thank you for replying on this forum, but I don't see that my iva i...

I have been in an iva for 33 months and by the end I will of paid more back than my original debt! Also my credit rating before the iva was excellent and now it is as bad as if I had been de-cleared bankrupt. This can't be correct? Thank you for replying on this forum, but I don't see that my iva i...

MelanieGiles wrote:

Hi there and welcome to the forum

Why did you enter into an IVA in the first place?

I entered into an iva due to my previous marriage breaking down and I had to take on the debt that was created from the fall out. It seemed like a good idea at the time.

I have been in an iva for 33 months and by the end I will of paid more back than my original debt! Also my credit rating before the iva was excellent and now it is as bad as if I had been de-cleared bankrupt. This can't be correct?