Hi. I have just asked Vincent Bond to start an IVA for me, and they are very confident that it will be agreed as what i am offering comes quite close to what i actually owe. The thing is i am about 1-2 months behind with most creditors and i have been open with them and phoned them to tell them i just cannot pay them anything. i have had to use several ''pay day loan'' companies just to afford to buy food etc. Do these types of comapanies fall into an IVA? i''ve moved bank accounts so when i am paid next month i can afford to pay most of them off as my bank won''t use my pay to pay off my overdraft - should i do this or put these with the IVA?
Hey n958g, you should include all creditors in the IVA proposal and payday loans can be included, you shouldn't favour one over the other. Phone your debt consultant tomorrow and have a chat to them about it. X
Not sure about the pay day loans but i would think Viki is right and they should be included in your iva as an unsecured creditor.
Have you looked at all your options as if you are paying very close to what you owe an iva might not be the only option available to you. I am not an expert of any kind but just wonder if you have looked into everything including DMP's
Be positive & look after yourself, there are more important things in life than debts....
