Is is easier to get IVAs approved with collection agencies than with original creditors?
I.e. leave 3 months of no payments so debts get defaulted and sold on before you propose an IVA?

If you were lodging but then became romantically involved, would you have to declare that to your IP as cohabiting or lodging? Is there a vast difference in what your allowed expenditure would be?

as i was told before by ip company, partners finances are their affair, not anyone else. Fact they receive funds from anyone is neither here nor there in respect of my insolvency Id say. eg my parents giving her money is private between them. obviously this is entirely hypothetical, so just curious...

A student loan is ... well .. a loan, but generally allowed in an IVA as the repayment is not due until you are earning a certain amount .... by which time you will be out of the IVA. A student grant / bursary is income, but should be offset, at least in part, by the associated expenses ... books, ...

Ok thanks. I'll get my partner to respond to the IP. It seems so unfair that his credit is tarnished for 6 years given that the IVA didn't take off and he has repaid all his debts in full off his own back :-( Anon1234 - please can you say which company it was, so those of us yet to choose have the ...

Is this a legitimate way to get round the windfall clause: ask any benefactors to gift to your partner instead of you? Would there be any way for an IP to know or any legal imperative on you to disclose the verbal arrangement? Would your partner's bank ever request source of funds (if for example ab...

What, exactly, do you refer to as possible grounds? The fact that the IVA will trash credit records for 6 years ? The "fairness" ? As with most things, these are in the public domain and very little research will show them up. It is the responsibility of a debtor to make themselves aware of the ram...

we are both in the same IVA, so both in the same boat. So annoying that it must remain throughtout the whole 6 yrs, its not fair Were you not aware of this / didn't the IP ask before submitting your offer to MOC? Foggy/Kallis/Lisa - Would the above ever constitute a missold IVA and/or grounds for i...

I thought that - we're so desperate for a bigger house, we only have a 2 bed and have been on a sofabed for nearly 2 yrs so my children have a room each Were you and your partner both on the IVA? If just you, maybe your partner could apply for a solo mortgage while you pay her half each month? Othe...

Basically, what you are doing is a DIY DMP and it would be better in writing, with a SOA detailing your reasoning and breakdown of how you arrived at disposable income and it's distribution amongst the creditors. The more professional and proactive the better. Then I will write. Thank you. When I d...

I've just had a chat with an IVA mortgage broker to ask this for my own situation. It was a colleague of Ryan's (from the IVA Experts section) as Ryan wasn't available, and his advice was that if you settle an IVA early but are still within 6 years of the start date then you can get a mortgage throu...

On the basis of a potential lump sum arriving, ask creditors if they will freeze interest and accept reduced payments on a pro-rata basis for the next 6 months, then pay them off from the lump sum. Thanks Foggy. This seems to be the only option that would not cause 6 years of credit purgatory, so I...

On an application for a payment in full you need to show the Court that you are in funds to pay off or provide security to cover the total debts and costs and interest of the Bankruptcy. Why are you hoping to annul it? What will you achieve? Hi Lisa Thanks for the detail. Would this be done through...

I am 2 years in iva ,16000 debt. paying 100 month 5 years paying 2700 fees 3300 to creditors, got windfall of 11000 going directly to iva, whats chances of creditors agreeing to full and final payment total paid into iva would be about 12000 Angela, Have you received the windfall yet? What type is ...

Why are you paying the total balance of debts and interest if you don't need to? Your parents should save their money and you should base any settlement offer on the number of remaining payments, which I presume is a much lower sum. Not my thread but curious... Does this mean that once an IVA has b...