Thanks Foggy, appreciate it.

As with everyone, I am just so desperate to put everything behind me and whilst I'm thankful of the structure of the IVA, it is still very constraining.

Ah I get you. So the lump sum payment is really just a bonus to them and doesn't serve as any leverage to make an offer if they received 100% of it. Best case scenario then is that I receive 50% of it, as it is overtime based ( fingers crossed!!) and the other is paid into the IVA. That way I can pu...

Understood thanks... One final question which I realise is premature but will ask anyway. If for example in 1 year's time, I will have completed 18 months payments with 54 months left to run and I DID win that payout claim, then would this be an unreasonable proposition... Monies paid in to then wou...

I recently upgraded through Carphone Warehouse during my IVA and had no issue at all. For comparison, I tried to get a better deal by starting a new contract through EE and was promptly declined!

8%!! Thats a crazy amount! Would a F&F offer half through the agreement - 3 years - mean that there are 3 years of interest payments to be made good as well as the outstanding amount? Or would there be an adjustment?

Thank you and even though it is probably a best guess, getting an idea of what would be paid back over the course of the IVA if my income remained topped by overtime and the claim on top, is great. Thank you

Hello all Looking a little bit of help. I have had my IVA for 6 months now and paying in variable additional overtime payments as agreed in the proposal. For clarity, my situation is as follows: 63k of debts (99% negative equity on a mortgage - house is now gone obviously) Circa £450 p/month Average...

Foggy wrote:

Glad it was finally sorted. Fingers crossed for a smoother ride from now !

Thank you! And for your help and advice earlier too Foggy!

Hello all I thought I would post an update as I asked for advice here a few months ago. I had paid a company to carry out mortgage mediation on my behalf and they made an absolute horlicks of it. I was then passed to their IVA team who managed to carry out the same level of diligence and professiona...

That sounds ideal...I dont have any other assets at all so no risk of forfeiture. Just wanting a speedy conclusion, it's been 2 years to get me to this point after mortgage mediation failed

As a Public Sector employee BR might be ruled out -- check with HR anonymously. But, if they are happy with it, seems the best route. Regarding IVA and overtime --- this is treated as "Extra Income" and not rolled into your regualr contracted salary. It is accounted for each month and paid in to th...

The damage to your credit rating for 6 years will be the same in Bankruptcy and IVA. It seems BKY is the best route for you and will not only shave off a couple of years worth of contributions but also save the third party their lump sum. There is a possibility their lump sum funds could be used to...

Thanks for the replies all Bankruptcy was put to the creditors in a comparison to what they would get from it compared to the IVA but hasn't been completed ruled out by me yet. I guess the bankruptcy stigma is the main reason I haven't gone for it yet... The lump sum option has been rejected now whi...

Not a home owner no... My excess income apparently (!) is 570 a month. I dont really agree with this figure but thats what the IP has come up with. That over 60 months is 34,200 I offered 25k raised from family as a settlement, they declined it I had thought of offering 100 a month as a token paymen...

Hello all I had an IVA proposal put together for three debts, the primary being 62k of negative equity from my previous home. The other debts were for both les than 1k for a credit card and a small bank loan. Through my IP, I had a proposal of an IVA settlement of a 25k lump sum after NRAM, my mortg...