www.iva.co.uk

Posted: **Thu Sep 10, 2009 7:40 pm**

What happens to our monthly contributions?
It appears that we will be paying over £500 each month into an IVA if accepted. What actually happens to this money? Is it kept somewhere until the 5 years is up and then distributed to our creditors or are they paid out monthly?

Posted: **Thu Sep 10, 2009 7:48 pm**

Hi
The money is kept in a client account by your IP and distributed to your creditors on a regular basis throughout your five year IVA
Regards

Posted: **Thu Sep 10, 2009 9:30 pm**

Most firms these days will effect quarterly or monthly dividends to your creditors on an ongoing basis.

Posted: **Fri Sep 11, 2009 7:59 pm**

Hubby's IP didn't pay anything over until 18 months in..it was only paid then because the IVA failed.

Hopefully thats not the norm.