What costs do I need to pay upfront ?

[Michaeld849]

I have unsecured debts of around £18000.00 I am looking at entering into an IVA, what costs do I need to pay upfront if accepted?

[James Falla]

You should not have to pay any costs up front Michael. The cost of your IVA will be taken directly from the monthly payments that you make.

[Foggy]

Hi Michael and welcome. Might I suggest that you pop over to www.iva.com where you will find a list of recommended companies, with reviews. Speak to a couple, the advice is free and without obligation.

As James so rightly says, any fees will be built into the repayments and will be agreed with the creditors, so you will be paying nothing upfront for setting up the IVA.

Best of Luck [:)]

[nepensioner]

Hi Michael
Welcome to the forum. Have you contacted anyone yet for case specific advice? If not suggest you visit www.iva.com which will show you reviews on various companies, and begin by ringing 2/3. The advice will be free and non judgemental and is a good place to start. We are always here too to give general advice and support, so do let us know how you get on

[Michaeld849]

Hello and thank you for your advice,

I am a bit unsure on this matter and any help is much appreciated, I will get in touch with a few couples and let you know how I get on.

[Shining]

It's always best to take the advice of 2 or companies just to ensure you're happy with your choice of company to represent you. You'll know when you've found the right one. All the best and please do come back and tell us who you're going with and for any advice/support you need. x

[Michaeld849]

Hello again,

Forgot to mention before that I have a car on finance would the car be taken away if I enter into an IVA as I need this for my work?

Would appreciate any responses.

Cheers

[Foggy]

As long as the car was purchased with a loan not tied to the vehicle ( HP -- lease Contract or the like) and is not overly expensive you should be OK.

[kallis3]

You also have to be able to afford the payments alongside IVA payments. Once the loan is finished then you would be expected to pay across those monthly payments to the IVA.