really scared about starting an IVA

Anondebtadvisor

There are some companies that propose an IVA for as little as £80 and IVAs are regularly accepted by creditors for less than 10p in £ these day.

National_Debtline

GD2:

Thank you for showing an interest. The fact sheets are only designed to give a very general outline of some of the potential options available to those in debt. If a client calls, a money adviser will go through a very thorough fact-find to ensure that they are fully aware of the individual's circumstances. This would, of course, include going through a comprehensive financial statement. This would allow the money adviser to make recommendations as to the potential options available. What's important is that our clients are told of all possible routes forward - so as to allow them to choose for themselves what option would be best.

We do refer IVAs which don't meet those specific requirements - so long as they are going to be viable.

I'm not sure on how policy decisions are made, sorry about that. If you are interested in anything specifically I can try and find out for you. The folks that spend time on the forums are all Money Advisers.

The fact sheets are designed to be easy to follow, and written in 'plain English'. It's often a difficult balance as some of these options, as you know, can be highly technical. If you feel that there is anything that you feel should be amended please do let me know as I can pass it to our information and policy team.

Best wishes,

David.

GD2_2

Appreciate you may not be able to say, but the members of the panel, assuming more than one here, would be useful to know. And maybe you want to give thought to updating the content a little to include what anon rightly says, and post BR IVA's as well, again though realising that that would not probably be something you were personally responsible for.

cheesedoffwithdebt

just a reply to the original thread (as it seems to have gone off at a tangent) I was scared of an IVA but am now half way through-had I stayed in a DMP it would have taken me about 15-20 years to pay off the debt, now I have 2.5 left-that's the difference. I will probably need to add another year as I also don't have much equity in the house but that doesn't bother me, that was part of the original agreement but the thing is my debt free date is on the horizon.
I used a private IP who I would highly recommend but don't think I would be allowed to advertise his name publicly(?)
I think my reluctance was that I had hoped to pay off my debts properly and had a huge problem with IVA's and bankruptcy generally but now see that in all fairness sometimes it is actually the best option- because its not feasible really to have a very long term unsecured debt repayment plan- either on the creditors or the debtor.

all the best susieanne!