Thanks for your help! We get a statement every month showing payments made and the company is 'Spectrum Financial Protection'. So if it isn't an IVA what sort of thing is it and should we be worried? We have always been told it is an IVA. How are we bound by it and also sorry to appear naive but wha...

Well yes it is an IVA as far as we aware! Spectrum pay 1 pound to each of our creditors eac month and at the end of the 5 years we are to have saved almost 10k which will then be apportioned in full and final settlements to each of our creditors. What do you suggest we should do? We are wondering no...

We are with a company called Spectrum and we pay 30 pounds per month to them which they pass on to our creditors and we save 165 pounds per month over 5 years to accumulate 10000 for our full and final payments. Due to unforeseen circumstances we have had to use some of this money so will have a sho...

Please could you advise? We arein the final year of a 5 year IVA and have had to dip into the amount we have been saving so will be short. We had to pay for my Mum's funeral and I also went on maternity leave for 9 months so had a reduced income and had to use the saved money. We need ten thousand t...