IVA and Stopping Direct Debits

worriedchick

Hi all

Just reading through as trying to get a feel for how things work and wondered how they work out what to pay if you are on a commission and low basic. My basic pay is very low but I often earn a high commission, just getting harder to earn the high commission and had to use credit to pay credit this month. Worried that they will make me pay more if I go for an IVA and then I have bad months again.

Carosel_2

Hi, everything gets taken into account when you go for an IVA. We're about 2 weeks away from our creditors meeting. We're £79K in debt, I work full time, OH is self employed plus we have a joint business. We told Payplan that OH's wages are not fixed, some weeks are good, some bad and they took an average over the year - our joint business is new and struggling but has the potential to get bigger. I think as long as you are completely honest about your situation you cant go far wrong. We have been totally depressed about our whole situation but advice from this board is brilliant and has helped us loads.

debtfree2016

Bank account sorted, just had the phonecall asking which SO'S or DD'S i want transferred over.... felt a little strange but good at the same time....

judojub

Getting there slowly but surely debtfee. Won't be much longer now!

debtfree2016

Stage 2 now of 5

debtfree2016

Hello all... I decided to keep this posting going so those who are new to the site can see what sort of time span it takes to consider an IVA and apply until creditors meeting.. I'm now at stage 3 just checking all my figures are correct before signing anymore forms.. very close to my salary being paid into my new account, i have all the main DD's and SO's all set up to come out of the new account, cancelling all the others and will write to all of them with my IP's details along with a £5 token payment. I'm really now at the point were i'm going to default on all my creditors, not a nice felling but one that will happen otherwise i wll continue to take from one to give to the other... i will keep posting....
Is it worth it?????? yes feeling better by the day knowing that my life can get back on track and i can spend time with my family... fun does not have to cost a penny.. Good luck to all who are in the same boat and those that are about to climb in..