I have been told don't pay?

fez2009

Having seen an IP today regarding me taking out an IVA, I told him that I don't have enough money for the monthly minimum payments for the credit card debts or unsecured loans.
He suggested that I don't pay any of these but only my priority bills, i.e. Mortgage, rates and securde loans.

I feel I should contact them to ask if they can defer or take a reduced payment as I do owe them money.

Should I do as he recommends!!

bunnygirl007

Hi - just out of interest which company are you doing your IVA with? I'm looking into this for myself and have an appointment with PayPlan on Thursday.

Have you defaulted on any of your cc's etc or will this be your first time? Have they told you when you need to get a new bank account? Do they ask to see all your cc and bank statements to see what you've been spending your money on?

Sorry loads of questions I know but trying to get an idea of what to expect on Thursday.

Thanks

RAS

fez

Please speak to one of the debt charities ASAp

http://www.moneysavingexpert.com/loans/debt-help-plan#help

Your advisor is right, you need to pay your priority debts first, but if you cannnot afford to pay all the other minimum payments, you need free impartial professional advice, not advice from a debt company. Do not sign up to an IVA unless you are advised by a debt charity to do so.