I am hoping to propose a lump sum iva

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robbo201

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Post by robbo201 » Fri Oct 17, 2008 5:56 pm
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I am hoping to propose a lump sum iva, and have obtained a secured loan to proceed but the APR is obviusly high. A close friend has offered to lend me the funds at a low apr, but will this be looked on less favourably and will it put me at a disadvantage as the loan is not secured when my outgoings are considered?
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plasticdaft

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Post by plasticdaft » Fri Oct 17, 2008 6:00 pm
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Did you seek advice prior to obtaining the secured loan??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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Adam Davies

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Post by Adam Davies » Fri Oct 17, 2008 6:05 pm
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Hi
It will make no difference.
Just state that you will be repaying your friend using your disposible income each month
Good luck
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Fri Oct 17, 2008 8:41 pm
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Take your friend's offer - the repayments will be lower and they may be more forgiving if you hit a bad month.
Regards, Melanie Giles, Insolvency Practitioner
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