Is it worth it?

[Key2]

Hi All

New here and reading through, I can see that an IVA would be my best, but not my only option. My question is, is it worth going for an IVA in my situation. My main creditors are Egg plc and Black Horse finance. These together have an interest totalling £45k. I believe that they normally reject IVA proposals, is that true? If it is, an IVA doesn't seem worth it, and in my situation, I can do without losing another couple hundred pounds to an iva company, just to be turned down. Any help would be appreciated.

[couple31]

Most IVA companies don't charge anything unless your IVA is approved?

EGG and LLoyds seem to have been quite supportive in cases I have read about

[aguise]

Hi Kev
The best thing you can do is get some advice from a couple of companies, I would start with the ones on this site. Couple31 I think you are thinking of lloyds tsb who are ok, Black horse are I think rejecting most at the moment.
Initial advice from companies costs nothing, so I would ring a couple and see what they say. Melanie would be a good start, or if you want post more details on the forum and others will help. Disposable income(whats left after living expenses) do you own proprty and if so is there any equity, and who your creditors are and the amounts.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[couple31]

Ah right ok

Sorry, didn't mean to be misleading

[aguise]

Gosh no dont apologise I thought they were the same as well, someone will probably come and tell me I'm wrong now lol

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[MelanieGiles]

Black Horse generally have a policy of rejecting IVA proposals where the debt is more than £7,500 or has been taken out in the previous 12 months. An insolvency practitioner with good detailed knowledge of the current marketplace ought to be able to advise you whether an IVA is a viable option, and may even be a able to speak to Black Horse in advance to determine whether you would be wasting your time.

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

[iva.com]

Hi Key2,

If you are looking for an IVA firm to advise you, you may find www.IVA.com useful. We hold a list of IVA firms and IPs and publish client reviews of the services that they provide.

Good luck with your search and please let us know how you get on.

Kind regards,
Terry Balfour
IVA.com

IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp

[Key2]

thanks to all that replied.

I will talk to an IP and explore my options. I will report back on my progress.

John