www.iva.co.uk

If and when my IVA is approved, how long after is it, until I make my first payment. Do I have to have to have kept enough money in the bank,or does it wait until the first day after my pay date, the 1st of the month?

Most companies like you to send one payment to them prior to the creditors meeting, it shows commitment, and you can make your first payment straight away.

Otherwise, I think you have to pay it within 28 days. We weren't able to pay upfront as we had no cheques or debit card, but just set up a standing order straight away.

Hi stirling i dont know if it varies from ip companies but when i did mine with mel i had to send my first payment with my proposal and then after it will be my payday

yes my IP takes a monthly payment, while we are awaiting the creditors meeting and then this will then stop and be replaced with the IVA payment.(Hopefully!!!)

it depends on your IP and when is best for you. You have 28 days from the meeting date but it's often best to set it up for when you get paid.

Commitment? why having a month's money at the meeting should make a difference is beyond me, I started mine on the next pay say sfter meeting as this gave me an extra months money to play with[:)]

Sorry for typing errors I have not been on the sauce, honest!

Your Proposal will tell you when first payment is due. In all of ClearDebt's ones it is within 31 days after the meeting of creditors has approved the IVA.

My first one was due to go out at the end of the month, just over a week later. I called them twice for bank details and they promised to call back. I went on holiday for a week, (booked and payed for by parents a year earlier)and returned on 3rd. I called them again asking for bank details and got a right telling off for the payment being late!!!

It seems their left hand does not know what their right hand is doing!