I'm about to enter into an IVA for 40k. Due to my wife recently finding work I'm going to be paying back 91% of this. The IVA company appear to be charging over 8.5k in fees, so my creditors will only receive 69%. Are these amounts of charges normal? I can't help thinking I'd be better paying the en...

Hi there - I've been waiting for a credit's meeting for a few months owing to a delay in getting settlement figures from some of my creditors. After 2 years of being out of work since redundancy my wife has just been offered a job, quite a good one. What I'm worried about now is that, as she's found...

The Co-Op's not an option for me unfortunately, they are one of my creditors...

On the advice of my IP I just opened a new bank account in preparation for taking out an IVA.

I opened one with the Nat West but during the process he happened to mention they were affiliated with RBS, one of my creditors.

Will this be a problem?

Thanks for your reply Andrew.

Did you see my question about pension payments for my wife? She has almost nothing saved in a pension so far (aged 40+. Is it permissable to pay large contributions into a pension scheme and so reduce net income? Or is the calculation worked out from gross income?

That's interesting - so if she gets £2,000 she is responsible for her £200 commuting but only half of the £1,000 child care? Call that £1,300 she has left then. So I'd have to pay £500 for child care but my wife would be expected to pay £650 towards bills(half of her £1,300)... so my payments would ...

This was explained twice by a really great advisor but my head was spinning a little - In my proposed IVA my wife is redundant. She isn't part of the IVA. If in the future she got a job, am I deemed as having an extra disposable income of roughly half her take home salary after extra expenses have b...