Questions about Individual Voluntary Arrangements and Insolvency.

Moderators: TalbotWoods, JaneClack

By skibadee
#198839 Have my second telephone apointment with CCCS this afternoon re., IVA, have been on DMP with Payplan since February but some creditors refusing to freeze interest...hence I now owe them more than when I started...and it was going to take 23yrs to pay back even if all creditors froze interest!!
Was considering BR but after initial telephone appointment with CCCS they recommended IVA....I have recieved paperwork/information pack, and have made a list of questions to ask today.
Has anyone had any dealings with CCCS and IVA..I understand this a fairly new thing that CCCS have started?
Or has anyone any advice on IVA in general?
By plasticdaft
#198855 Do you have any equity in any property?? Just be honest with the figures and dont rush into signing anything because you are tied to it for 5 years. Dont leave yourself too short,ie save an emergency fund for all the things that go wrong(sick pets,car exhausts falling off etc).

Oh and good luck.
By skibadee
#198862 Thank you, don't have any equity in property, don't own home rent from housing association.......I&E I have gone through with CCCS is very good.....and at the moment amount payable which will be £316 a mth is sustainable...and hopefully will be for next 5yrs.....have gone into great detail with advisor and have looked at different options, gone to different charities for advice....and besides BR..[ which has not been recommended ] this seems the best way.