IVA offer

FiatFan_2

UpToMyNeckInIt wrote: »

Yes you can - off the top of my head I think it's £24 pcm.

Well worth downloading those guidelines as I say.

as for your utilities: Put down what you actually spend. If it's above the guidelines, it doesn't matter - you can prove your spending with bills, direct debits from your bank statements etc. As long as you are doing your best to save energy etc, your IVA company will be hard-pressed to fight it. Lets face it, we have all probably spend a lot more on gas/electric recently, so I am reckoning on an increase in my bill before too long as well.

I've downloaded the guide now and will have a good read of it

Will need to be doing a new I&E when the details of my job get sorted. We'd retained the elec/gas budget of the old house and the new house is a good bit dearer on elec/oil. This was expected so should be fine, just worked out it's a 10% increase so not as bad as I'd anticipated.

Depth_Charge

Sparkyalice wrote: »

Just need a few more opinions on this so I will start very briefly with a summary:
Married, three young kids, £250k mortgage. Both myself and wife work full time. My net wages frozen for foreseeable future at £1900 PCM. Limited equity in house...maybe 25k.
We owe my ancient mother £40K from when we bought the house 6yrs ago that I repay at £250 pm. I also have personal debts on 5 cards and one loan of £48k. Now, I have struggled this last year as you can imagine to meet my monthly demands and some cards have been subject to late payments ( but no missed ones). Now the card comps are reducing my credit limit as I clear and three have upped the APR which means I am just paying interest back.
Now...I have had advice from one IP that strongly suggested I go for IVA at £710 PCM for all my cards. I thought about this and because it left me with nothing after all other commitments met, I declined. I think he was gobsmacked...so much so that he rang back 30 mins later having spoken to his 'boss' (old trick!) and now reckons he can get £500 PCM...£13000 off in 30 mins. Is this a good deal under the circumstances, meaning a freeze on £48k with a total payback of £30k is manageable but I cannot see the creditors going for it. Any advice welcome...I have not called him back as I am waiting on outstanding PPIs before committing to anything. Any comments/ advice welcomed.

Hi

Interesting post

This sort of practice you mention hardly helps the reputation of the IVA industry and perhaps looks more at home in the double glazing or timeshare sales departments.

As others have said speak to other advice agencies and IVA companies about all options, solutions and compare were appropriate.

Affordability, sustaniability and potential implications are paramount with an IVA and other debt solutions for thast matter depending on circumstances of course.

Best wishes