IVA Wizard

[philip.c]

it was your Blog I read this morning , I cannot do without the car at the moment , it is only 10 months old .. Very good blog BTW i really felt for you

[scaredkez]

thanks phillip, i was lucky in the end as mum and dad bailed me out and bought the car back, my hubby was allowed to keep his but it was only worth £500 anyway, i know its hard to part with, i do hope you can find the best solution for yourself, phillip is it on HP you said you are still paying for the car, if it is the OR may let you continue with these payments as they are regarded as a secured creditor.i am not sure will go and find the info for you.

if the OR says you warrant the use of a car for work and your car is on HP and they allow that expenditure then it will be up to the company you have the HP agreement with if they let you continue, if the oR says no, that the expenditure is not warranted in your income and expenditure then the car has to be handed back to the HP company, hope this helps.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[finebridge]

Hi Phillip,

Good advice from Kerri, i dont think i need to explain further. Please do post if you have other questions.

Nicola

Finebridge Ltd
22 Laud Street, Croydon, CR0 1SU
0800 180 4212
www.finebridge.co.uk

[philip.c]

yeah , the car is on HP , I do use it to go to work , but I dont think it is over the 6-8 miles in distance , but public transport is terrible . thanks for the infomation

[philip.c]

does anyone know what the least amont of disposable income they would need for an IVA ,as I am trying to get my figures to together . my patner is gong to help me along with Rent & such also if I took on another Job could this also included in ?

[MelanieGiles]

Most insolvency practitioners would say £200 - I thing there are a few who will take cases on with lower contributions, so it would be worth shopping around. But of course your payments will depend upon your own specific circumstances.

If you have income from a second job, this should certainly be included.

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

[philip.c]

so for instance if i have my Monthly income of £1500 ( including 2nd job & mony from partner )
and out going of £1250 this leaves around £250.00

how would this be excepted ?

sorry for this long thread but I want to gain as much information as possible and try to get this right first time .

[MelanieGiles]

Hi Philip

Yes - it seems that would produce a dividend in the region of 30p in the £, after allowing for IP costs, which ought to be acceptable to your creditors.

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

[philip.c]

Thanks Melanie , how likley is it that they would go for this with me being in so much debt ? and what are IP costs ?

[MelanieGiles]

As you are going to be with Thomas Charles, you will need to ask them what they feel the IP they choose to refer you to is likely to charge.

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

[philip.c]

to be honest I havent had any contact with Thomas Charles so far only a message left on my Voicemail saying they where goint to text me some contact details,the text has never come and as I cannot take mobile calls during work time it is quite hard for me at the moment to scedule time to ring them