Thanks for all the advice, obviously our main concern is losing our home, would we know beforehand if our home would be safe in bankruptcy or would it all depend on the day in court ? To lose our home for the sake of saving £50 a month ( difference between our mortgage payment & probable rental cost...

Thanks for your reply, the IVA is in both our names & obviously that would mean both of us going for bankruptcy. I've looked at private renting & we'd be lucky to save £50 a month compared to our mortgage payment. We've handled being in an IVA fairly well & i thought that at long last we could relax...

Good morning all, any advice would be much appreciated. My Wife & i are currently 14 months into our IVA & things had been going fairly smoothly but i've just been informed that my employers are hoping to bring in 20% salary cuts & this would obvously mean that we could no longer afford our monthly ...

oldcazza wrote:

can you forum guys answer a question for me and mr oldcazza,at what point in the IVA do our creditors receive any monies we're 28 months in and have paid 5.5k, will they have got any yet?

They've probably had about £3.25 by now

I thought of doing the same thing but it's pointless as i'd have to pay 50% of it into my IVA. Stopped doing overtime at work for the same reason, i had to give 50% of it & then pay the travelling expenses (£12 a day) out of my half. Just wasn't worth working extra hours for hardly any gain & i don'...

We are allowed £60 a month to clothe 2 adults & 3 children.
It's a farce but what can you do ?

Morning, I was just wondering about the 3 house valuations i need to get in year 4 of my iva. Are the free valuations from estate agents ok or would i need to pay surveyors to value our property ? The reason i ask this is that with every penny accounted for then where is the money coming from to pay...

Hi great site,been reading posts and finding this site very helpfull. I've been in an IVA for a year now and had my annual review and been sent a copy of the report. I've paid over £10,000.00 which included £2500.00 in overtime.With the supervisors fee's deducted i've only paid just under £5000.00 ...

Bit worrying if creditors can still harass you after the IVA has gone through. I understand it takes time for all the phone calls to stop but continuing phone calls would make me feel like ending my IVA as that's one of the main reasons i went into one.

We have an equity release in year 4 , obviously we'd rather pay another 12 months payments than higher mortgage payments for another 20 years. Just have to wait & see what happens nearer the time. Regarding the two valuations we would need, are the free estate agent valuations ok, or would we need t...

font size="1" face="Arial, Verdana, Helvetica" id="quote">quote:<hr height="1" noshade id="quote"> Originally posted by Skipper Bluemoon, That's an interesting payment set up, first I have seen. It takes into account my CSA payment for my Son. Always paid child support but the good people at the CS...

Finally got through to someone..... No creditor voted against us. Wife has to lower her pension payments ( she isn't happy about it but what can you do). Typical equity release at year 4. Starts on 21st of this month, didn't think it would start so quickly, pity it didn't start until after xmas but ...

Unable to contact anyone who knows what happened at my creditors meeting at 11am this morning.
Very professional huh ?
Makes me think it's bad news.........< sigh >

Hi, We have appplied to enter an IVA & are waiting for the date of the creditors meeting. We have debts of £29,000 & approx £25,000 equity in our house. We have tried to remortgage but haven't been able to raise enough to pay off all our debts, we can only raise £15,000. If when in an IVA with a 4th...

Just a point to the poster who raised the issue of having to pay fees on top of the amount paid to creditors - just think how much money was saved by not paying ongoing interest - a lot more than the IP fees I reckon. Regards, Melanie Giles, Insolvency Practitioner for over 20 years. For further de...