I fully agree with skipper's comment that free DMP agencies are not really free. Its just that you don't pay for their services directly. So who's side will they really be on? James Falla Expert in IVA, Bankruptcy and informal Debt Management solutions for over 10 years. For more information visit w...

I could not agree more Phil. If you are in a position to pay back 100% of your debt without needing an IVA, then it is not only better but you actually could not use an IVA because you would not be insolvent. James Falla Expert in IVA, Bankruptcy and informal Debt Management solutions for over 10 ye...

Hi Phil You must remember that an IVA should not be viewed as a way of not paying all of your debt. Rather it should be seen as a way of repaying as much as you are able within a fixed period (usually 5 years). This means that if your circumstances improve during your IVA you will be expected to pay...

I am glad to hear that you have taken your situation squarely by the horns. Please make sure that you factor in the increased cost of the commute to London in your bugets when you move so that this does not drag you into debt once again James Falla Expert in IVA, Bankruptcy and informal Debt Managem...

Hi princessb I am not able to advise you on whether or not you should be reciving sick pay. However, in terms of your IVA, with legitimate problems such as sickness, you will notmally be able to take a payment holiday. This could be for up to 6 months depending on the nature of your illness. You wil...

As many people reading this forum will be aware, the IVA.co.uk community will be discussing debt education this week. We will of course be thinking about how to better educate people who find themselves in debt, but its preventative action that is really required. I agree that our culture has signif...

The discussion of who pays IVA fees is an interesting one but I agree with Andy. If you consider contract law, then it is definitly the creditors who are paying the fees and not the debtor. Lets say the debtor owes £50,000. They go into an IVA and agree to repay back £35,000. This is as much as they...

Brian To answer your questions about bankruptcy 1. Bank Account. If declared bankrupt the bank accounts that you currently have will normally be frozen by the court. However, you will be able to open a new bank account after you are bankrupt. This will generally be a simple card cash account. Your w...

Brian Just to clarify here, generally as has already been said you will not be asked to attend your creditor's meeting in person. However, if you want to go to Clear Start's offices and be there in person at the date and time of the meeting, this is your absolute right. In fact, many people do choos...

There will be no problem at all Phil The only thing to be aware of is that if your income increases after any allowance for additional expenses associated with the new position, you might be asked to increase our IVA payments. I know we always say this, but you should discuss this with your Supervis...

Welcome to the forum Tom I assume that you are in an IVA. This being the case, it is generally not possible to change your IP. How much were you paying into your IVA when it was agreed and do you feel that given your changed circumstances this is no longer possible? What do you feel you can pay now?...

I agree with Olly that it is most unwise to re-mortgage your property if you have no income to support your current mortgage payments let alone any larger ones. Selling your property, settling your IVA and starting again seems a harsh but sensible option. You must discuss your otions with your super...

I would be inclined to agree with Melanie on this one. Very often, the only way of finding out whether your creditors are still chasing your for money is to open up the whole can of worms. Given that you want to respolve the problem once and for all and are prepared to meet your obligations, I sugge...

I agree with Melanie, creditors may well reject an IVA proposal on the basis that the full debt could be repaid within a similar timescale using a DMP. Generally, if you can pay back 100% of your debt within 5 years using a DMP, then creditors will favor that option. James Falla Expert in IVA, Bankr...

Charlotte The purporse of an IVA is to help you resolve your debt probblem not prolong the pain. Do you have a property with any equity in it? If not, then I agree with Debtdummy, you best course of action may be to jack in the IVA and go for bankruptcy. Then the problem would be resolved once and f...