many thanks for your help.
Basically, the creditors have agreed to accept the dividend as settlement. To get it early is a bonus for them.
Many thanks for your help, much appreciated!
Good luck and let us know how you get on.
I am afraid the IVA will remain on file for 6 years from the start date, even if finished early.
I guess the advantage to us then would be that I would feel happier giving money every month to family rather than our IP? I may not have grasped all the info they sent correctly but I feel that any attempt we make to improve our financial situation and dig our family out of this hole we are in will be taken away by our IP. For example, I would like to start part time work from home or we could rent somewhere smaller and therefore cheaper to pay off the debts that are in my name. But then they will up our monthly repayments I think.
Oh if I could go back 3 years and ban all credit cards in our household!! Neber mind, Onwards and upwards. [;)]
Best of luck!
Through inability to manage money through some difficult situations would be the honest answer. I suppose mainly through me being ill and in and out of hospital for several months so hubbys overtime dropped right off and the credit cards took the brunt of the bils and also a series of cars that either blew up or just stopped moving and had to be replaced. They are the main two.