IVA - Pence In The Pound

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hdl

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Post by hdl » Tue Nov 06, 2007 4:01 pm
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The three companies I owe are: Barclaycard, Lloyds TSB and Lloyds Credit Card.

What pence in the pound are they likely to accept in an IVA agreement ?
I spoke to one IVA Practioner today who said in the current market it is unlikely to be anything less than 40p. However the consultant I spoke to at Payplan said 25p.
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MelanieGiles

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Post by MelanieGiles » Tue Nov 06, 2007 4:52 pm
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Most of those creditors have a general requirement to receive 25p in the £, although there are no hard and fast rules. So long as you are making the best offer based upon your circumstances, in theory a lower offer could be made, but it must still be cost effective to propose the arrangement at those lower dividends.

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
Regards, Melanie Giles, Insolvency Practitioner
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iva experts

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Post by iva experts » Tue Nov 06, 2007 5:05 pm
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In an IVA you must offer as much as you have left over from your income minus your living expenses. If 25p/£ is what you can afford then this will have to be put forward.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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