www.iva.co.uk

Hi

myself and partner are currently at the proposal stage of our IVA- we are just waiting to arrange the telephone interview/find out when our creditors meeting is

My question is, if for example the IVA is agreed and set up on the ''16th'' of say november, but we would like our payments to be on pay day,'30th November', would this Payment in November be for a) 14 thirtieths of the full amount, b) The full monthly amount or c/ 14 theirtieths plus the full monthly amount? (dates hypothetical) ...... the 14 thirtieths being the 14 days left in November after the creditors meeting and monthly payment amount agreed.

Hi there ---- the agreement is to make x payments of £x, so the first payment, whenever you make it, will be for the full monthly amount and repeated on the same day each month until the agreed number (usually 60) number of payments has been made. So there is no need to apportion the first payment.

So with my example, if the agreement is set up on the '16'th of november, would be be able to make the first payment on payday- the 30th?

As long as it's made within 30 days it should be OK. My agreement was on the 17th and I made the first payment on 2nd of the following month (just to give a little leeway from pay day!).

Some firms like to have the first payment in hand, ready to pay as soon as the proposal is accepted, but are still flexible.

which firm would it be? I'm with melanie giles. Im just trying to budget for what we'll have available over the next month etc, with christmas etc coming up

I personally paid one payment up front and therefore when meeeting date was here and accepted I only had 59 payments to go. I then paid another month and every month thereafter on the 28th of the month as I get paid on the 27th.

Discuss with your IP some don't mind a month after meeting date.

Mel normally does like to have a payment in hand so that the IVA term can start right after the meeting. But she is very flexible. Might I also say you have an excellent firm looking after you :0)

I'm with Melanie too and confirm what a good choice you've made, she'll go through everything with you and give you great advice.

I'm also with Mel, and have recently had my IVA accepted. I didn't have the funds to make an up-front payment, but she agreed with me that I could start paying on my next payday (which was a couple of weeks after the meeting)

Always accomodating is Mel, an IP who lives in the real world. x