I would like to start an IVA

[Adam Davies]

Agreed, but even then the cost is still 7k to return 11k,what happened to the minimum of 25k of debt that was originally touted around a few years ago for an IVA to be considered ?
I think my point has been missed in this post,i think that an IVA would be the best result for Xen but wonder if this will be agreed by creditors due to the high fees to debt ratio.I think Xen needs to choose an IVA provider with a low cost base regarding fees.

regards





Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[Oliver]

Hi Xen

I understand Andy's point but think that he is worrying too much about this. You have a very strong case and I feel every chance to have an IVA accepted based on the info you have posted.

In our experience creditors are happy to accept cases of debts as low as £15,500 with overall IP fees of c£5,500, and Disposable monthly incomes of as low as £200.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[xen]

Hello everyone,
OMG there are so many differing opinions on this, I am thinking about going down the road Skippy13 went down begin an IVA, see what happens. If it's rejected then my creditors will have the full picture and i'll prob have no choice but Bankruptcy, and if it's accepted then fab! If I get down the road and things aren't working out with the IVA for what ever reason, (should we get it) then Bankruptcy is still an option.
Thanks Guy's
Xenia

[Oliver]

Sounds like a sensible plan.

Keep posting to let us know the outcome.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Skippy]

Good luck Xen, and keep posting to let us know how you get on.

Onwards and upwards!!!

View my blog at http://skippy13.blogs.iva.co.uk/

[iva experts]

Hi Xen,

I agree with Oliver, your plan sounds sensible. At least now you know what your options are and what to do to go about solving your debt problem.

I think it would be wise to consult at least 2 or 3 debt management companies about obtaining an IVA.

Hope this information is of use

Regards. IVA Experts

[xen]

Hello, All your help and advice has been invaluble, Thank you, I will let you all know what we decide and how we get on.
Thanks
Xenia

[iva experts]

It’s a pleasure. Good Luck with your decision making.

Hope this information is of use

Regards. IVA Experts

[MelanieGiles]

I've never worked on a £25k minimum debt so could not comment. I don't forsee a fees issue with this case from my own experience Andy!

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