BMW may allow you to keep the car if payments are made despite the insolvency clause. It would be something for you and/or the Insolvency Practitioner to discuss with BMW. Generally if all payments are up to date it tends to stand in your favour. If the car were taken back then the shortfall becomes...

I agree - you definitely need to speak to someone to find out (best) options. The lump sum in an IVA is likely to be of great interest to your creditors.

Seems to me that you have t have car insurance and something left for the unexpected. Therefore in my opinion the suggested payment level is too high. It would make good sense to get at least a second opinion.

Sometimes creditors will accept a Full & Final IVA even if it ends you paying then a lower dividend than an informal settlement would have. In an IVA creditors are seeing the whole picture of all debts, income and outgoings and assets. The IVA offer may be compared to what the creditors would receiv...

I agree - its an important decision and worth just checking that you are a) going for the right debt solution and b) going with the right company,

All the advice so far seems spot on. Always worth talking to a few companies before making a final decision. Feel free to get in touch if you think I can help.

Hi Peter - do get in touch - I would be very willing to help. I emailed you earlier.

Littlewoods appear to have a policy of rejecting IVA's if the account has been used within the past 6 months of the IVA being presented. Of course if that particular debt us relatively small - then they could be outvoted by the other creditors.

Verty happy to help if required.

Perhaps also to mention that the IVA company will probably keep the first number of payments to cover the setting up costs (nominee fee) so it may be that creditors have little if any payments yet. But it should all be fine - and payment details agreed between Hanover and the creditors will I'm sure...

I agree about not being pressurised. There always 2 factors to consider - is the IVA the best option available to you, and if it is - who is the best company to run it for you. Definitely worth chatting to a couple of companies and making sure you understand all pros/cons.

Did someone say it was a beer all round?

Hi, debt definitely plays second fiddle to physical or mental health issues. Its important that you receive the right level of help and support. Please feel free to contact me direct at keith.white@iva.com - I will do all I can to point you in the right direction and explain options open to you.

I think the question here is whether the loan was taken out in joint names or in just your ex's name. If just in hers, then you are not legally liable for it and she is protected within her IVA. The exception would be if it were included as part of some legal arrangement within the terms of your sep...

It doesn't seem normal and once the IVA is finished you should receive a completion certificate though it can take a few months. Have you tried speaking to Aperture?