Would recommend that you speak to an insolvency practitioner as based on your basic information it would initially appear that an IVA is an option for you both. Would recommend that you do not use the £10,000 is discharge any debt as they could be used as you sugguested to offer creditors with the c...

John - you are probably right, but what is even better is having the entry completly removed as if it had never been there. That is what the creditor can do but not the credit reference agencies - they can only put an entry against it saying you dispute it.

Not sure what "OH" wage is? I would not recommend allowing the IVA to continue. If you are unable to find employment within the first three months and IVA could fail which may hamper you proposing another IVA once you do obtain employment. Reason - creditors may not believe or trust what you are say...

If you are a director it does not mean you are a shareholder. Basically a director manages the company and the shareholder owns it! Not normally a problem during an IVA, but prior to an IVA you need to check the company's articles. On bankruptcy you will need leave of the Court to be or continue bei...

I have helped a family member with this situation, the quickest way is dealing with the creditor direct, they can remove the entry once you prove that it is not you.

Is the mortgage on a repayment or interest only basis. If on repayment basis then you could consider reducing your mortgage payments by asking your mortgage company to move your mortgage from repayment to interest only until you get back on your feet. Remember, your amount owed (capital) will not re...

I have recently tried to do something similar for someone and to this day not received a response from HSBC. They will not give you a number for someone to speak to in the UK.

As Melanie sugguested it is worth a go but do not be surprised if ou do not receive a response.

When I complete annual reviews we do not touch your savings as long as the savings we not there before you entered the IVA. However, if you manage to save too much (don't ask what is too much as it depends on each persons circumstance) then it might mean that you can afford to pay slightly more into...

The legal advice I received not too long ago was that the test was similar to bankruptcy. simply they needed to be living in the UK during past six months, even if they are no longer living in the UK.

Also, it depends on whether they have any interest or assets in this country.

If your husband was employed they would not have the right and they would need to agree a repayment schedule with him. However, your husband is self employed therefore I believe that they do have the right. Suggest speaking to them and asking them to take the money back over a few months, they can o...

agree, best that you withdraw from the IVA rather than allowing it to continue and being unable to make the payments which may cause the IVA to fail. Better to see if you can get a job, even on a lower salary then you can consider an IVA on your revised cicumstances. Given you are offering 70p/£ eve...

I see no reason why your IVA should be held up on the sale of a vehicle! If you have HP then a provision will need to be made for the expected shortfall to the HP company. As you are self employed, does your IVA provider have your business cash flow? Are you happy that the cash flow is correct based...

Yes, I would make a provision for their debt in the proposal and ensure that it is slightly on the high side to cover costs of sale. I see no reason why the IVA should be held up.

You need to make sure that your business cash flow used for your IVA is realistic based on the change of circumstances.

Where are you up to with your IVA?

What is the value of your vehicle and is it subject to HP?

I am a little lost why the IVA cannot proceed while you still have the vehicle. With vehicles that need to be sold, I normally put a provision in the proposal that the vehicle is to be sold within three months of the IVA being approved.