Hi rodmunch Why do you feel your IVA might fail? Are you struggling to make the payments? If this is the case it is always best to try and find a solution with your IP which may well involve a variation to reduce your payments if your circumstances have changed. However if you feel that you really c...

Hi there As Jan has said, getting a new HP agreement while you are still in an IVA could well be difficult. It would be better to keep the car you have got and then think about replacing it when your IVA is finished. If you really need to replace the car then the first port of call is to discuss the...

Hi there Darren Because Halifax is part of the Lloyds Banking Group, you are obviously worried that they might use the off set rule to dip into your Lloyds account to pay the outstanding debt. This is possible although I would not expect it to happen immediately. As the posters have said the best wa...

Hi Fiona Foggy is quite right. If a person dies, then any debt that they have will be paid by their estate. If they have no assets then any outstanding debts are written off (in effect the debts die to). I am surprised that the company who managed the IVA on behalf of your Father have suggested that...

Hi John It is often necessary to declare your partner or spouse's earnings as these are used to determine what contribution to the household expenses they should make. However there is no need for your partner to be involved with your IVA in any way or indeed tied into your debts. The IVA is as it i...

As Foggy says, the best thing to do would be to ask the utility company to credit your account so the money does not come to you directly and is there to compensate when you use more fuel or prices go up. If you receive the money as a cash lump sum payment them you will have to tell your IP and let ...

Hi there georgie14 Although the amount you can afford to pay each month is low, if you add in commission payments, you could well offer a very respectable return to your creditors making an IVA more than possible. Having said that it is very important that you do not start an IVA which you will stru...

Hi Jayne I am not aware of any reason why being in an IVA would hinder your emigration to Australia but it is worth checking the visa application to see whether you will be asked any questions about being insolvent. Given all is well, the most important thing to think about is whether your income in...

You are absolutely right luluj, not paying the parents debt until after the IVA is finished does depend on them not needing the money. However so does including them in the IVA as the dividends they are likely to get will be low. However these payments would be better than nothing. Trying to continu...

Hi Devon80 If you use this £6000 to repay your parents and then immediately propose an IVA with your remaining creditors, it could well be viewed as a preferential payment which would be at risk of being clawed back by your IP. Really the £6k should be used as an initial lump sum payment into your I...

The one thing you can be sure of when trying to solve a debt problem Adam is that there are no easy options or magic wands. It is possible to do a full and final settlement IVA which would be completed almost as soon as it started, but you will need a reasonable lump sum to achieve this. Otherwise y...

Hi Kev59 Why does your wage fluctuate? Is it because you work different hours or get paid different amounts of overtime / bonuses? If the former then you need to work with your IP to use a reasonable average. If the latter then you need to base your income on your basic wage. Extra monies earned wil...

Hi wherediditgo You must not just change the nature of your IVA standing order without speaking to your IP or their representative and informaing them of what is going on. If you do not tell them in advance they will think you have simply missed your 2nd payment which does not really make for a very...

I have always shown DLA as income but then offset this with corresponding expenses. In a recent case the DLA paid was for two children and the creditors accepted that this extra income could not be used to increase the DI payment an so did not even ask for a breakdown of the corresponding expenses. ...

You are quite right to point out that many people will be very happy to complete their bankruptcy forms very well without any outside help Paul. However it is not the case for everyone and many people do need help. I agree that the CAB is a good place to start but unfortunately many CABs do not have...