www.iva.co.uk

I am hoping to be accepted for an IVA. Whilst this is being prepared do I continue paying my creditors?

Hi, well this is really up to you. I personally didn't pay from October - February when my IVA in the process. Others choose to pay full amounts, some choose token payments. I don't' personally feel it has a bearing on the outcome of the meeting and gives you the opportunity to build up a bit of a contingency fund prior to entering the IVA.

Like Lesley we didn't pay during the weeks leading up to our iva being approved...we built a little savings pot up which was absolutely crucial in the first six months to help over come the emergencies that always seem to crop up when you least need them.

I agree with Lulu and Lesley that it is up to you and is unlikely to have any impact on whether or not your IVA is approved. If you have pressing issues such as mortgage arrears or house/car repairs it may be better to use the funds for these purposes rather than paying creditors.

Same here. I did not pay anything between the time I sought advice to my IVA being agreed

The one thing I did though was write to each creditor and explain I was having difficulty and seeking the advice of an IP professional. I asked them for their patience whilst this was happening. They were surprisingly understanding and said they would wait for contact from IP