Newcommer

[sostressed]

I have finally admitted that me and husband need help and filled in and returned our proposal - dont really know ho wlong this will take, signed the forms that will be going to the court last week, i feel so sick that they can easily reject and dont know where to go from there

[iva experts]

Welcome to the Forum sostressed,

The way you are feeling is absolutely normal, many people on this forum have been in the same situation as you.

Are you proposing an IVA or Bankruptcy? If you are proposing an IVA the whole process from when the forms are returned should take roughly 6-8 weeks.

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

[sostressed]

thank you - i am going into an IVA - we are £180,000 in debt and our IP will be offer £750/month - does this look like it will work

[Adam Davies]

Hi
Well if you have signed your proposal than you have done everything that you can.Just have faith in your IP and remember that the vast majority of IVAs get accepted.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Adam Davies]

Hi
The 180k includes your mortgage ? or is it all unsecured ?,can you list your creditors ?

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[sostressed]

hi dots, its all unsecured debit loans and credit cards - how we ever got them oneof lifes little mysteries, being living on air for the last 2wks having not to rely on cards

[Adam Davies]

Hi
With payments of £750 over 60 months you will be paying in 45k less IP fees of 7k[?] you wil be returning 38k to your creditors about 21/22p dividend.How much equity do you have in your property ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[iva experts]

haha to be fair Gordon I only beat you by less than 1 minute, it just goes to show that your becoming more and more confident in your knowledge on the subject of debt [:D]

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

[sostressed]

very little - have a mortgage of £180 and poperty valued at £200 max

[Adam Davies]

Hi
Well your IP is putting your best offer to your creditors and you will no doubt have to release some equity in the fourth year and this will bump up your dividend from the current 21/22p.
Do you have HSBC or NR s a creditor ?

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[sostressed]

Gordon, what did you mean by that post

[sostressed]

Hi dave, yes one is NR - lloyds, abbey, barclays, mint,cap. 1, sainsburys, 1st plus, GE money, citi, morgan stanley, mbna

[Adam Davies]

Hi
How big is the NR debt ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp