Can I ask what is classed as 'excessive'? Our car payments on HP are £274 per month, we have been paying them for just over two years. If we enter into an IVA would this be classed as too expensive? Extremely worried as we cannot get to work wothout the car, I travel 18 miles to work and my husband ...

Hi,
This may sound like a really silly question but, if you are advised to stop making payments to your creditors, where does the money go that you would have paid out? Are you supposed to save it and hand it over at a later stage?