It makes good sense to photocopy all letters sent to your creditors and keep them handy in case a representative suddenly shows up, but as Melanie said, it really is very rare for this to happen.

I feel in this instance you should explore the bankruptcy avenue. Your income may be a bit tight to consider an IVA.

Congratulations and well done

Your IVA payments are based on your Income & Expenditure. The "Disposable" amount that is left is what is paid to the creditors. If the amount changes either up or down then adjustments can be made accordingly.

You also need to look into why you have borrowed money as your budgets may not be set right. In theory you should be able to live with the I&E set within your agreement.

If you had a thorough breed racing horse left in some expensive stables I would understand but I think your particular situation merits special circumstances and should be left alone.

Firstly I would like to thank destiny for the positive feedback relating to our services. It is true to say that anybody considering and IVA can and often will approach an IP directly. However, we believe that our clients benefit greatly by dealing with one of our debt consultants as a first port of...

Hi Kimb,
Was there an allowance made to continue with the car payments within your IVA or was the "loan debt" included as an unsecured creditor

Good luck for today

You need to speak directly and without obligation to any of the experts that advice on here as your situation requires a solution, it's difficult to say if an IVA is the better solution until you have answered a number of questions, If you are not a Ltd company you can still trade as a bankrupt but ...

Congratulations

Hi The general rule of thumb is if your circumstances have changed and you have income surplus to requirements then you may be required to increase your contributions but you must also review your budgets to see if there are any increased living costs. If your I&E has not changed an increase is hard...

Hi, If the car is subject to an HP agreement and the vehicle is recovered by the finance company, they will issue you with a final demand of any outstanding charges for recovery and outstanding amounts left unpaid, if you are proposing and IVA it is better to anticipate the shortfall and include thi...

It's always better to speak to your creditors and explain the course of action you are taking, although this may not stop the calls you will at least feel less pressure. With regards to the zero tax code, my understanding is and I will be corrected if wrong. The Inland Revenue is seen as an addition...

If you can not make your IVA payments (which on the face of it seems to be the case), you must discuss this immediately with your IP. It may be possible to insert a break in your payments until you are in a position to make the payments once again. However, it may be likely now that an IVA is no lon...