A long time response for this thread! A big thank you to the above posters. I took your advice and in Jan last year the "payment to date" was 100% accepted by all our creditors and the IVA was concluded. A massive weight of our shoulders. I do have a couple of questions about improving our credit ra...

Thanks for the re-assurance Melanie. Our income isn't going to change so i'm just praying our IP (one of the regular big ones mentioned)can see logic, and at the least propose an acceptance on the payments to date. We are waiting to hear whether they are prepared to. They suggested it on mine alone ...

Ok I can see what you are saying Foggy. However we haven't paid the IVA's since Xmas and the only way we managed to pay them for the months prior to Xmas was because we didn't pay for the council tax, utility bills and the other essentials that should have been met. We in effect placed the IVA over ...

I agree with you Melanie and Kaz12. This would seem a much better option. Nothing is going to change so why would they want to suspend it then try later?
I will try and talk to the IP directly.

Hi Melanie, You kindly suggested that a payment to date option would be the most obvious path a couple of months ago, so very helpful advice. To summarize my income dropped from £2500 to around £1300 over an 18 month period until October last year. Myself and 2 co-directors had a successful business...

Thanks foggy. You gave me advice on this a couple of months back, alongside Melanie which was really helpful. It sounds like the advice by my IP to suspend payments for the time being, to stand a better chance of a payment to date option being accepted at a later date is confirmed by you as a reason...

Hi Lesley, Bankruptcy may well affect my chance of any success being self employed, but I am definitely thinking it may be better than years of a frozen IVA hanging over me, then forced into bankruptcy anyway. We have very little equity in the property, I guess £25k between me and my wife, and it wo...

Hi, A quick summary: Wife and I in separate IVA's (mine £510, hers £100), 2 and a half years in. 2 missed payments on mine until Xmas. Hers fully met. Massive drop in income from me as my business went insolvent in October last year. My income was dropping over the last 12 months of trading to the e...

Thanks for advice so far from all. Im assuming I can ask my IP to carry out a variation meeting to request a F and F on payments made so far? If she insists on an IVA freeze for 3-6 months then nothing will change and we will still be in the same situation, just pray she is supportive. Thinking in a...

Hi all, Many thanks for your comments, and advising on the prescription issue. If my IP agrees to a variation meeting to see if they will accept our payments to date, as a full and final setlement, how long does it take to call the meeting? And in the meantime will the expect us to maintain payments...

Thank Melanie, feel a little more positive about the situation now. I will draft a letter to my IP outlining our situation and feed back the response.
Fingers crossed. Have a good Xmas.

Thank you Melanie, I was hoping you personally would respond as clearly you give sound advice, very grateful. It was my intention to be very upfront with my IP and let her know exactly where we are. It can't go on as it is, we can't even pay for medical prescriptions we need, contact lenses etc, and...

Myself and my wife are 2 and a half years into an IVA (the IP did an IVA for each of us, jointly, but as separate policies). My payments are £510, my wife's £100 per month, 5 years with an equity release, or extra year payments to 6 years (only £25k equity in house and 90% mortgage, so will be 6 ...

Hi all, Im part way through going down the IVA route and keep questioning whether bankrupcy would be better. I owe 87k and have about £600 per month to offer creditors. Mortgaged but no equity at all in the property. Small business owner of a limited company though. Although my co-directors would h...

Thanks for the input Tina. My IP (who I haven't met yet) has forwarded me details of the documents I need to produce or send prior to the meeting. They haven't said anymore yet. I can justify the increase in salary so maybe that's enough, fingers crossed. I guess I will have to see what they say in ...