considering bankruptcy and IVA

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rosy

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Post by rosy » Thu Jan 24, 2008 10:45 am
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I have four credit card debts amounting £32,000. I cannot afford to pay these off and am considering bankruptcy and IVA. However, I have someone that would loan me 40% of my debt. How do I negotiate with my credit card companys to accept 40% as full payment of my debts?
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MelanieGiles

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Post by MelanieGiles » Thu Jan 24, 2008 12:15 pm
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You could approach them directly, or enter into a full and final based IVA making the same offer. The first option will probably take longer but will be cheaper as there will be no professional fees to pay, but the IVA route is likely to be quicker and is dealt with for you by an insolvency practitioner.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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