Don't panic! - post your situation on here and let the experts give you some impartial advice so that you are aware of all the facts. An IVA should be not be a bad experience, and if you do your research NOW it doesn't have to be. All those of us on these forums have such a variety of experiences th...

Redundancy payments are to allow you to live while seeking alternative employment and are not classed as 'extra' income with regards your IVA - however I presume (one of the experts should be able to shed more light on this)that if the payments are huge and you get immediate employment elsewhere, th...

Unless the savings are your husbands! - remember your debt is your debt and not your husbands. Be very carefull that you disclose your income and your husband's contribution to your household bills to your IP and then make sure that everything your husband earns is kept as his and his alone. Your IV...

Hi All, Your points are are good debate for most IVA's and probably all new IVA's, but I remind you that my IVA(and I wonder how many others?) has a clause stating that I will keep paying until my creditors reach 75p/£, and as such it is me that has paid my IP's fees not my creditors. Not bitter at ...

The IP's own regulatory body is your first port of call with regards problems with the setting up of your IVA, but I have to point out that the regulatory bodies are only interested in making sure that IVA's are set up according to the law by the IP, and are not at all interested in individual cases...

Hi Andy, The financial ombudsman can only get involved with issues that occur after 7th April 2007, and not before. Anybody with issues before this date, particularly with regards to fees (like me and you) are basically on their own - and my IP knows it and this explains his 'couldn't care less' att...

Hi All, Just thought I would let you know where we are up to now in my long running saga! With the failure of the IPA to do anything and the financial ombudsman not being able to do anything I was left in a quandry. My wife has, as usual come up trumps and has managed to raise the 5K that my IP is d...

Lew, I tried to get a solicitor involved in my case 3 years ago when my fees started going up - I couldn't find anyone with enough knowledge (or interest) at the time. If you go onto the law society website you can search for registered solicitors who specialise in insolvency law in a radius distanc...

It seems to me that the IPA is a re-active organisation rather than a pro-active one. Their own figure for investigations of IP's indicates as such. In other words they only want to get involved when there is a serious breach of the legal process of administering an IVA. They are not interested in '...

Rainbow, Sorry to cause you alarm, but the £3K figures were MY tax levels as I was totally self employed. The issue over self assessment payments into an IVA should be taken into consideration when self employed are entering IVA's, but it it nothing to be alarmed over as long as you understand how i...

Ray, All the tax that I owed went into my IVA PLUS as Melanie states above the tax due for the fiscal year my IVA was started in. Because you don't know what the tax will be until you come to work it out futher down the line, the inland revenue insisted on 3 payments of £3K for the 6 monthly estimat...

I can only speak of my own experience Ray and I was informed by my IP that the payments once included in your IVA form part of the IVA and that's it. I did query it at the time because I assumed I would be able to reduce the payments accordingly - but you can longer class the payments as 'tax' rathe...

Can I just add one very important point here, that is when my self assessment tax was added to my IVA they based it upon the previous tax year and my forecasts for the coming year, they then asked for lump sum payments (just as they would do in self assessment anyway) BUT when I worked out my actual...

Andy, The total costs are £20.5K and total in pot is 60K so about 34% - the difference though is that my pot has received 60K, where as there was 38K in your pot. I wonder if my creditors would cap the IP further because of the higher monetary value of my pot ? The problem is of course that the IP w...

Hi Andy, Congratulations, and well done. Your creditors capped your IP's fees ? - with all the trouble I am having (please read my last everlengthening posts) I was wondering if I should ask my creditors to settle for what they have got in the pot now and maybe cap the IP's fees to up their returns ...