80yr old - debts 90K - no assets no property

[jon1]

Question is regarding an 80yr old -whose debts are 90K -no assets no property - know bankruptcy would be the solution but would rather pursue IVA - two companies (non fee paying) contacted refuse -say chance of success too low because of his age - help he refuses to consider bankruptcy -but any debt management plan would take 15yrs to pay off plus hassle from creditors and no guarantee interest will stop -surely with the IVA everyone is better off- are the creditors a problem -do I need to approach a fee charging company? (60% of debt RBS & Bank of scotland -but amex also a creditor)

[MelanieGiles]

Hi jon and welcome to the forum

Could you list this gentleman's debts in full so I can see which creditors are which. I personally can see little problem with this case - we should not have an ageist attitude to debt (the bank's don't when they are lending the money!). I have personally dealt with a lot of maturer clients in my time and cannot forsee any problems, as long as the gentleman's reasons for wanting to avoid bankruptcy are made very clear within the IVA proposal.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk