IVAs in the Stone Age

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Mr Loadsofbills

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Post by Mr Loadsofbills » Tue Jan 30, 2007 2:42 am
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It seems that Debtors are being burnt on IVAs because the creditors insist that the BBA figures are used for living allowances.

How are these figures being derived? Do the creditors think that Debtors live in mud huts using flints to ignite fires to keep warm at night?

What rights of appeal could be used to get these allowances raised during the IVA acceptance stage?





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Eat the debt. My raison d'etre is to put TIX 'the isolvency exchange' out of business by informing anyone who will listen to take a bankruptcy over an unrealistic IVA proposal.
My sig.

Eat the debt. My raison d'etre is to put TIX 'the isolvency exchange' out of business by informing anyone who will listen to take a bankruptcy over an unrealistic IVA proposal.
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freelili

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Post by freelili » Tue Jan 30, 2007 3:59 am
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I think its done on an individual basis loads of bills. We have to pay for our mistakes.

They could bring back debtors prisons.

I dont sleep well either

LILY
Last edited by freelili on Tue Jan 30, 2007 4:00 am, edited 1 time in total.
LILY

http://freelili.blogs.iva.co.uk

I asked God for an answer, I have to live with his reply.
Exsisto an angelus quod planto quispiam sentio melior.
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Mr Loadsofbills

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Post by Mr Loadsofbills » Wed Jan 31, 2007 12:02 am
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I can imagine that scenario quite clearly. :-)

Abit of Oliver Twist at a variance meeting.

"Please Sir, may I have some more..." :-)

"No you swine!!!" :-)

My sig.

Eat the debt. My raison d'etre is to put TIX 'the isolvency exchange' out of business by informing anyone who will listen to take a bankruptcy over an unrealistic IVA proposal.
My sig.

Eat the debt. My raison d'etre is to put TIX 'the isolvency exchange' out of business by informing anyone who will listen to take a bankruptcy over an unrealistic IVA proposal.
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MelanieGiles

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Post by MelanieGiles » Wed Jan 31, 2007 1:03 am
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I think that puts it rather well! I am a great believer in you guys paying as much as you can comfortably afford, but IVA's were never meant to be drachonian and that is the way the industry is taking them.

Mark my words IVA failures during the first year will show a stiff incline over the next 12 months. Watch this space.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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