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Considering IVA
Comments
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Hi Percnica, Welcome to site.
Thanks for posting...I am considering BR or IVA or DMP but thinking that will do IVA/DMP but have been advised that BR may just do once & for all. Interested that you say `wish had BR in first place` as am hearing this sooo often!!
Can`t offer advice as new here but the guys are a great help.
take care Axx0 -
I took out an IVA two years ago.
From a personnel point of view I wish I had applied for BR in the 1st place as would by now be debt free.
Hope this helps
hi pernica.
Welcome..this seems to be the consensous of opinion regarding IVA's that most fail for one reason or another...glad you have posted that as i think it helps to get exact advice from people who have gone through the processes..
How are things going now for you?
What is the current situation?
Dave.
BSC MEMBER NO. 125:D
BR - 16th June 2008 AD - 16th June 2009:DIs it nice to be important or MORE important to be nice.:D0 -
Hi Dave ...thought you were tired??
Angelxx Ps not bought that G&T yet!! geting thirsty here!!0 -
Sorry Angel....im shattered but keep offering advice etc...i like to try to help when people ask etc..
and yes sorry im a bit slow on the drinks.
*hands over a G&T*
There you go. enjoy. ;-)
Dave BSC MEMBER NO. 125:D
BR - 16th June 2008 AD - 16th June 2009:DIs it nice to be important or MORE important to be nice.:D0 -
Can anyone please confirm, when setting up an IVA, if I believe the monthly payments are set to high, is the figure negotiable?
If not, am I committed to going along with the IVA, or can I continue with my DMP if I feel the payments are set to high?
I'm concerned about the creditors setting a figure that may not be acceptable to ME.Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0 -
I think you need to play the bluff. Inform the IVA co. there is no point setting up an IVA that would result in non payment and BR as a result. Might aswell go BR now. Point out to them that although there is £ 30,000 equity in the property that in BR the Insolvency practioner appointed would take about £ 15,000 in fees resulting in a far worse return for your creditors.
If creditors are better off with the IVA they should go for it. No point in selling yourself short.
Good luck
DDDebt Doctor, Debt caseworker, Citizens' Advice Bureau .
Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***0 -
Thank you DD
Would you have any idea if under an IVA if our payments were to increase greatly.
As mentioned earlier in this thread, we owe £91.500 in unsecured debts, and pay £535.00 per month.Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0 -
Hi
Just an update, I called CCCS re obtaining a 2nd opinion on an IVA, they have booked a telephone interview for Friday.
Will post the outcome following the interview.Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0 -
Good glad you booked an appointment. Wait for your post friday.xFree impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D0 -
Hi
Just an update, I called CCCS re obtaining a 2nd opinion on an IVA, they have booked a telephone interview for Friday.
Will post the outcome following the interview.
Good luck 10, glad you have taken the steps forward.
Dave. BSC MEMBER NO. 125:D
BR - 16th June 2008 AD - 16th June 2009:DIs it nice to be important or MORE important to be nice.:D0
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