Paul All the advice currently given is correct. I would add that there are some occasions when creditors actually will demand 100% of the equity in a property to be considered even if one party is not going into an IVA. This can happen if a couple has been married for a long time. The arguement is t...

cmj From what you have said, an IVA certainly seems possible. You have calculated that you have £2000 disposable income each month. Even if you have been over-optomistic and this is only £1000-£1500 i would say that you still have a good chance of an IVA Beware that your creditors will probably stil...

Hi Chris Most car HP agreements could be kept in an IVA. The test is whether your proposed monthly IVA payment is more than the car HP payment. If your poposed IVA payment is much less than the HP, your creditors may have a problem with it. As Andy says, it is very important to be absolutely clear w...

I agree with Andy on this one. A few years ago, there was definitly no problem with pension contributions being left into someone's monthly expenditure. However I think that more and more creditors are now demanding that these be suspended for the lift of the IVA. I would have thought that most IPs ...

Tracie In terms of assets, remember you can only qualify for an IVA if you are insolvent. This means that if you have assets of a value which are greater than the level of your unsecured debt (eg equity in a house) then you are not insolvent and would not be able to do an IVA. James Falla Expert in ...

Hi lih In my experiance, if you bring home around £1000 after tax, then as a single person you are going to need around £800 to live on (unless you are living at home with parents and paying very little rent) - more if you have children. As such, this would leave you with a Disposable income of c£25...

I agree with Go_4_Broke and Andy If you feel that making token payments to your creditors will help reduce the collection demands you receive from them, then there is no reason not to do it. However, if you decide to give a token to one, you should really do it for all. Try not to treat anyone prefe...

Strange to hear about your comment re Nationwide and not being able to set up direct debtis from their basic account Skippy. As Allan says, I have always found that their basic accounts have this facility James Falla Expert in IVA, Bankruptcy and informal Debt Management solutions for over 10 years....

I do not want to add gloom here but my understanding is that Black Horse will not look favourable on IVAs where their loans have been running for less than 2 years (24 months). If you have a significant Black Horse debt (20% + of the total) and it is less than 2 years old, your IP will need to call ...

Phil It is great to hear that you IVA has been accepted. This always brings a smile to the faces of those who regularly post here and gives those who are still going through the process hope. You will definitly be able to change your standing order date to better fit in when you get paid. Talk to De...

Dave You are right, there sometimes seems to be a significant difference in the service that people receive depending on the IP they use. In my experiance, the larger the firm, the less contact you are likely to have with the actual IP. In itself, I do not think this is a bad thing. What people real...

Ralston I am aware of some instances where divorce agreements have been overturned based on the rules in bankruptcy but as Melanie says, these are rare. However, you should get advice from your solicitor who dealt with the procedings. Your pension funds can not be touched in an IVA or bankruptcy. Ho...

Hi jgd Unfortunately CSA debt can not be included in an IVA. If you have little or no equity in your house, it may be sensible for you to consider Bankruptcy. Again, the CSA debt will be protected. However, you would have non of your other debts to contend with James Falla Expert in IVA, Bankruptcy ...

Hi Donna As you will have read from all the posts here, it is very normal to get threatening letters and calls from your creditors demanding payments. As Melanie says, if you can afford to make a token payment (£5 / £10) then this will not hurt. However, really if you make a token payment to one, yo...

Hi there our7 Once you get your certificate of completion from your IP, it is a very good idea to send a copy of it to the credit reference agencies (Equifax and Experian). They will then register that your IVA has been completed and your debts are now satisfied. This process will eventually happen ...