Subject to wording in the proposals / modifications (Such as the ability to retain the first £500, it would generally all go for the benefit of creditors to the extent that they recieve 100p in the £ after the costs of the Supervisor have been discharged. Statutory Interest may also apply at 8% pa

There is nothing at all to stop you applying for an IVA. It's not always as straight forward as you might think though. Believe it or not, the level of your income that you are paying to secured creditors can also have an affect on the options available to you I think before you commit to an IVA you...

You can try this link ... http://www.insolvency-service.co.uk/newipsearch.htm You can also have a look on http://www.iva.com/ This site reviews Insolvency Practitioners / their practices. As Kallis3 points out, you are free to use an IP from anywhere in the Country and don't necessarily have to find...

For the benefit of those who may have read the thread and wondered what the outcome may have been there are a couple of possibilities. The first is that Capital One and Halifax were not notified of the arrangement, through honest omission. I don't believe that is the case here as I am sure they woul...

I am sure that creditors would accept that offer Trind, simply to draw a line under matters and for both sides to move on. I think in the current climate, well I would hope, that the lenders would see sense and accept the offer of 47p now as opposed to waiting two years. They could have that money ...

moretolife wrote:

hello again cybus...by "realisation" do you mean total paid back...our total debt was 96,000...and we have 32p/£ as dividend

sorry to keep asking...just trying to understand
thank you

I mean the total amount to be paid in by you over the course of the arrangement.

thanks so much for info...it does help me get things clear in my mind..knowledge is empowering isnt it..altho like others i prefer to think maybe red wine is just as empowering !!!! LOl cybus..can i ask what you mean by the level seems to be "indicating a high level of realisation"??...thanks all I...

Don't panic. 2 things you can do ... either ring the customer services number on the statement and explain the situation; or speak to your IP on Monday and ask them to contact the Halifax. I suspect it might be something to do with the recent merger and they've done a statement run. Just a hunch, th...

Mine is in Iceland ... I am hoping to see it again, preferably soon.

I think what they ought to have stated in the list of expenses is 'Bond'. In every type of appointment an IP takes, he / she has to 'Bond' for the estimated value of assets to be received in the arrangement/ bankruptcy / liquidation... Trying to explain it as simply as possible, it is effectively an...

I have just googled and have found acompany that advertise it as writing off up to 75% so i think they are still about. Would you happen to recall their name? I would be interested to see if they are breaching the OFT guidelines. In response to the opening post, I might controversially suggest that...

Attitude I can not comment on the specifics of your case here as this would be inappropriate and also I do not have them. Pleasec contact me to disucss, but as stated above if your debts are higher than in the proposal we can go back to the creditors and get the level agreed. It is not unusual for ...

I think it's worth pointing out that although you have been advised that it is going to cost £600 to convene a variation meeting, it does not mean that you are going to have to lay your hands on an extra £600 to pay to your IP before the meeting can be convened. You may already be aware of that, but...

I think your first port of call should be the Insolvency Service on this particular subject as they would probably be able to give you some statistical information. Contact them via http://www.insolvency.gov.uk/contactus/contact.htm They may point you in the direction of a local office where you may...

Once you have made a decision o nwho you may want to use, it would be in your interests to mention this previous arrangement at the earliest practicable moment. I would make all the correspondence and reports issued in respect of your previous arrangement available to your chosen IP. The unfortunate...