Is this right?

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johnmc

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Post by johnmc » Wed Jun 06, 2007 12:07 pm
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I rang my IVA company today to discuss the possibility of end my IVA early via a interest free loan from either parents or friend. I rang and asked to speak to my IP or someone who could help.

They said that I should send a letter with my intentions and they will send a breakdown of what I need to pay to settle the IVA. No discussion just send us a leeter and we will send you a figure!
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Oliver

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Post by Oliver » Wed Jun 06, 2007 12:16 pm
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This sounds like a reasonable way of proceeding with this arrangement. If you would like you can post some more details including the figures of your IVA and the amount of money you are proposing to end it with. From this we should be able to advise on the feasibility of this offer.

Best Regards
Oliver

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

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Post by johnmc » Wed Jun 06, 2007 12:37 pm
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Thanks for reading Oliver. Ok here goes

Debt c23,000 (not got exact figures in front of me)

Agreed dividend - 51p/£

12 months paid at £328
18 months paid at £365

Total Paid £10,506

I have no idea what a reasonable offer would be and need help with this as my Parent have yet to agree as I cant give a figure. What would be a realistic region? This would help so much as I can then take the preliminary discussions into an advance stage.
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ray_a

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Post by ray_a » Wed Jun 06, 2007 12:38 pm
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John

From a personal point of view an IVA is a complicated document so I guess it is not unreasonable.

I would do it and wait and see what happens.

Please let us know.

Regards

Ray
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johnmc

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Post by johnmc » Wed Jun 06, 2007 12:39 pm
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Sorry - I have no equity of any sort either. All I own is this IVA!!
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Oliver

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Post by Oliver » Wed Jun 06, 2007 12:58 pm
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I would say that an offer of between £7-10k would be acceptable to complete your IVA.



Best Regards
Oliver

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

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Post by MelanieGiles » Wed Jun 06, 2007 2:44 pm
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Yes I agree with Olly that seems a fair offer.

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
Regards, Melanie Giles, Insolvency Practitioner
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