Trust deeds/ IVA's- finance query

[SkidSolo]

Anybody else out there that have got themselves in financially difficulty and opted for one of these?

It has helped because money was tight although now it could be rolling in due to promotion/new job. The thing is, they want it all even though the present amount I pay covers the total left over the next 18 months. They will take it all and any thats left they will refund after the time is up.

Anybody out there that knows of a loophole or any other options available to prevent them taking the extra cash?

Apologies if in the wrong forum.

Rgds
SS

[niknak]

I presume that this pertains to Individual Voluntary Arrangements in conjunction with bankruptcy.

Alternatively you could have been taken in by one of the many firms that offer to take in all your debts and manage them for you.

All they do is do what you could do - contact all your creditors and explain you are having problems, and ask for assistance.

The difference being is that if you do it, normally your creditors will make arrangements that don't entail you incuring further interest, whereas these companies will charge you a monthly fee.