Advice needed

[barneymac]

Hi, I hope someone can help..apologies if this is a bit long!
In july06 I started a DMP with Payplan, with this DMP I have 11 creditors and as of today the estimated debt remaining is £23,000. Today I received a letter from a creditor asking me to phone and when I did was told that the payment they are receiving is not enough and unless it is increased by 150%(£10.50 up to £25.00) the they will start court proceedings.Have contacted PP and am waiting for them to get back to me with regards a IVA. My question is with an IVA I was told that I would have to pay a min of £150 month(at the moment it is £120) this is possible but will be difficult, but reading up on different sites it seems that it would be more.
Also, and I know this was stupid, I have 9 other creditors(not with the DMP) and these total £5,000...do these have to be included in an IVA? (Two of these are companies who I have been paying a reduced amount since I had my daughter 12 yrs ago and the reason I didn't include them on the DMP was because they had been so good with not hasseling me I thought it unfair to reduce their payments again(as I say stupid!). Hope someone can trawl their way through this and offer some advice. I've been worrying all day and don't know which way to go

[kallis3]

Hi barneymac,

I'm afraid all your unsecured creditors will have to be included in an IVA. You cannot favour one creditor over another. However one of the experts will be along and answer your questions for you

[MelanieGiles]

This is one of the downsides of a DMP, in that creditors can move the goalposts. I am not sure that an IVA is feasible for you if you can only afford £120 per month, but Payplan are best placed to advise you on that.