Thanks for the replies and sorry for the rant. No doubt and in hindsight I think BR would have been the better choice and should have listened to the father in law on that one. An IVA is good if you want to protect things, like a home but if not, what's the point? Mortgages, loans, credit card company's have been taking the p155 with their inflated rates for so long now. Not only that but bank accounts charging you to hold onto your money with monthly fees, what's all that about? Therefore, with the IVA, why feel as though you should do the creditors a favour, they have been ripping us all off for years anyway and no doubt, the money borrowed has been written off anyway with virtually no impact to them with (I expect)insurance for such events anyway. It's the low wages and massively high prices for everything that got us here in the first place which is why we had to borrow. We have not been extravagant and our debts have just been on keeping our heads above water. Life will no doubt be better in 5 years time (hopefully!). BUT, between now and then, our children will miss out on so much which they should not, for example, holidays, school trips, decent clothes, nice birthdays, decent food and not the value crap, days out etc, and really the basics of our so-called civilised society. Unfortunately, these missed days for the children will be gone and you cannot get them back as in 5 years time, they will be grown up by then. Sorry for the rant but I am failing to see the purpose of an IVA if you have low value items and for example, rent a home. The feeling of the commitment of paying back what we owe above the families well being is getting lower and lower. Time for a think and change as this is just miserable and again companies making profit on others circumstances without the best intentions. IVA's are certainly and without doubt good for most, but for others, it is just extending the hardship although I do recognise it keeps the creditors away and that's a good thing.