www.iva.co.uk

We have a creditors meeting on 15th however I am worried. We have been on a dmp for 6 years and during this time we studied for degrees obtaining student finance to pay for the fees and offset against our reduced income. We have never been late with our DMP however will our creditors refuse our IVA because of this.

Hi, have faith in your IP as they would not put an IVA forward that they consider would be rejected...good luck for the 15th and do let us know the outcome.

Hi Joanne.40 - lots of people have IVAs with student finance in place but which is excluded from the IVA. A DMP allows you more flexibility in obtaining credit should you need it for things such as this so you should be fine. I assume your IP is aware of the student finance, if not then you need to make them aware and explain the circumstances.

Best wishes for the 15th - fingers crossed!

Phew x our creditors meeting was actually today and although we had to wait for most of the day the end result was that it was approved by everyone. One creditor wanted the payments to be higher however this was argued and they accepted the original proposed payment. Long journey ahead but at least there is light at the end of the tunnel.

Great news Joanne - feels like a long journey but in reality it will take a lot less than paying off credit cards and just the same time as some of the many loans I took out!

Thank you. It is such a relief and time for us to focus on the future.

It really does make you think of every penny you spend. The way I coped was trying hard to save money each month - nice to have a contingency fund and even nicer to know it's all yours!