My wife and I are just waiting on a 'heads up' from NR before our IP arranges the creditors meeting. In the meantime we've both opened cash accounts with LTSB - one for DD's and the other for cash and shopping. And the best bit is that they even provide a debit card so we can still shop online and u...

Thanks for the feedback everyone - we have decided we are definitely going through with the IVA, so feeling better already.

It's ok I've found the answer to this, and it seems to be in our favour - actions taken in the past, such as CCJ's, will be overturned - quoted from the Thomas Charles debt help leaflet.

Just a quick question... Some people seem to advise that once I have decided to go for IVA I should not pay any creditors, not even a token payment. Obviously this may lead to a default. From experience I know that that a default remains on my credit file for 6 years after the debt is settled - does...

Thanks scaredkez, I didn't mean I would deliberately try to pull the wool over the eyes of my IP, just wondered what the procedure would be - it seems to be the same as with an expected bonus. We do understand what the IVA entails and realise from bitter experience that it's preferable to having a s...

Hi, This is my first post. My wife and I are considering an IVA and we were wondering how bonuses and windfalls work. Do these go towards paying off the newly calculated debt - thereby reducing the overall term? Or do they go towards the excess that the creditors would not have gotten their hands on...