Affordability in an IVA

PixelCode

So the IVA people are not getting a sizeable amount of what I am paying? I doubt they do it for free.

I don't really care to be honest, banks and other lenders took loads off me for years, so whatever.

Charco_2

No, of course the IP is getting paid, but the fees he is getting paid are all agreed at the start of the IVA with your creditors. Bear in mind he is a qualified professional and will be looking after your case for five years. People make a big deal out of the fees but it does require the creditors to agree it (the creditors obviously feel it reflects value for money!)

Back to the HP issue:-
When your IVA proposal was first drafted, was the fact that your HP agreement would be ending not raised? Are you now left without a car because you couldn't finish the repayments (ballon payment). Was the proposal not drawn up to include that your HP repayments would end during the course of your proposal and that this money would then be added to your monthly IVA contributions?

immoral_angeluk

Why is your overdraft increasing? The whole purpose of your IVA is to be reducing your debt, but you're letting it increase via your overdraft. Are you having a problem with the level of payment?