In your experience, and in the current climate, what level of dividend would creditors be prepared to accept as a one off single payment IVA? If this is determined by level of debt, its around £108,000. My IVA proposal has hit a temporary problem as Mel knows, and it has occurred to me that my parents house is mortgage free, and with interest rates so low at the moment I may be able to talk them into releasing some equity to enable me to do a lump sum IVA. They are unaware of my debt problems however, so it will take a very serious chat with them, but I'm just trying to explore all options. If those of you who have recent experience of this could give me a ball park figure that would be great. Due to my partner recently losing her job, I am not in a position to offer any monthly payments at the moment.
Just wanted to say well done to reaching this stage - your suggested idea is one that I am sure many of us have thought about - however I know my parents would not have considered this as this was their security for later on in their lives - maybe your parents will different - good luck with it !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Can we discuss this off-line rather than on a public forum. I will be in the office all afternoon, so if you give me a call we can talk through some options.
Melanie is right - its her case but as long as a reasonable "offer" is made then a lump sum is achievable - good luck
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
On the grounds that this is Melanies case, and she has replied to her client, I am locking this thread.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
