Successful IVA?

jessie27

Hi everyone,

Just wanted to ask if anyone has any experiences of IVA's not going through? My creditors meeting is on 16th jan but am so worried that it will not go through. The dividend is 48p in the pound so quite high but am so worried that it might have to end with bankruptcy that am having trouble sleeping at night. My family do not know and there is no way I can tell them.

BNU_2

Hi

Someone I know well had one of these a couple of years ago, but he took advice from his accountant who was able to negotiate more favourable terms for him, and was able to present all of the information in the best possible light.

His mistake though was not to include all of his creditcard debt, so there is still a lot of debt kicking about which could have been 'mopped-up' by the agreement - but perhaps he did this on purpose to save having his cards taken from him? - which would have meant telling his wife - who still to this day does not know quite how close she got to losing her home - although I think she did eventually find out about the IVA somehow.

Best wishes, I hope it all goes your way, but my advice would be to take professional advice, if you haven't already, because it may save you a lot of money and stress in the longterm.

jellycat40

Hi not much help from me but can you tell me what this dividend is of 48p in the pound.

Good Luck on the 16th. I am still waiting for my call!!

Louise

jessie27

Dividend of 48p in the pound is how much the creditors will get back so if it was 50p they would get back half of what is owed to them. Well that's how I understand it anyway!

Good luck with yours, let me know how things go. I am using a firm called Cleardebt who are very good.