Help and advise Needed

[caraf]

Can my creditors start looking back at what and when I bought things and start asking for them to be returned ??

[coupleplus1]

They reduced the fees at the actual meeting, we didn't know until it was all agreed. I was worried sick while it was all going through, we had 90k's worth of debt and are now paying between us £400 per month with an equity release clause in 4 years. I have also got a modification in mine that the creditors want to keep some money separate incase we fail the IVA for bankruptcy which I then paniced about, but was told this doesn't mean they think its going to happen its just so there is a contingency fund for them.

I don't think that most proposals are put forward if there is little chance of them getting approved.

Hope everything works out for you.

[caraf]

How much should clearstart be charging me, what is the standard cost of an iva ??

[Adam Davies]

HI
Normally around 6-7k but it's your creditors that pay not you.
Have faith in your IP but make sure that you understand the ins and outs of your IVA before it's proposed


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[caraf]

if my iva is approved how often does clearstart review and what does this entail, what do they want to look at ??? will they check up on what we are spending on

[BECKY]

You will have a review once a year. They will ask for a new income & expenditure to be done and you to provide them with bank statements and wage slips. They wont check every single penny you spend , they'll just check to see whether payments can be increased ( only if your i&e shows there is more surplus) and they produce a report from this for you and your creditors

[jpj]

Dont worry so much!!!! I know its a tough time,we have all been there and we know in the end it gets sorted..Your IP knows what they are doing, and knows how to negotiate. I would sign the proposal,send it back (recorded delivery) and just let nature take its course!
i told you this morning your creditors look ok!
No they wont start going through what you have spent..if they did that with every case the fees would rocket.
Just try not to worry too much!

[marsha1]

12k wow that seems a lot. Clearstart reduced their fees so I could give a better return. This was due to mods on the day.

[BECKY]

I agree with jpj let ur ip do there job now and try to relax a bit. Your going to end up making yourself ill , u've taken a huge step in taking control of ur finances and should be proud of urself.Sign ur proposal and send it back tomorrow , its out of ur hands then .

[caraf]

Thank you all very much for all your comments it has really helped me alot today.
I have now done food shopping and a little christmas shopping in the last 2 weeks on CASH and by it does make you think twice whether or not you really need it. The feeling is brilliant !!
Primark have some lovely cheap things for prezzies. So havent used my credit for 2 weeeks and feeling good !!!!
Thank you all very much

[jpj]

Well done
after a while you will realise that half the things you used buy you didnt really need!

[chris.g]

I'm so pleased your feeling a bit brighter now. I also have been using cash the last few weeks and it makes you realise how much things really cost. Using cards, credit or debit, you don't realise how much your spending as you don't see the money changing hands. I now think twice when I'm shopping and realise most of the things I used to buy we didn't really need. Keep smiling, things can only get better.

Learning as I go along and getting wiser all the time!!!

[Skipper]

8K with Vat included is most likely the min fee


<<My motto:I am proud of black culture and is against racist bigotry>

[caraf]

Does anyone know the trend of how creditors vote?? are my creditors good ones ?? or are there some bad ones?? sorry just need to be re-assured again

[caraf]

I suppose I am finding this waiting hard, and i just want someone to say yes no problems at all it will be approved.