Hi there and thanks for the advice. How does the BI process work? without the IVA we would be in a position to pay the mortgage, but I want to understand the BI process before we go any further. Also with regards to getting a valuation on th eproperty is this somthing that we do and provide to the O...

Hi Everyone. We entered our IVA in Jan 09. At the end of Jan 09 I lost my IT job. I was forced to take a job as a building site assistence which was paying 75% less than what I was originally earning Fortuntaly with help from family we managed to continue our full IVA payments untill May 09. We then...

Hi all

A friend at work who is considering an IVA or Bankruptcy has asked me a question. If he goes the BR route would he loose his home? He is in negitive equity to the tune of around 30k.

I couldnt answer this so if anyone can I can let him know

cheers

FB

Thanks Jan It does seem a bit hit and miss. I am self employed and my earnings do fluctuate from contract to contract. In essence I could earn more or less, however earnings for the IVA have been based on a set figure. I'll just see what happens. Main thing is to earn enough to keep afloat and pay t...

Ah I see. So its not a governing IVA rule that 3 months bank statements are required. Fair enough. However I dont understand why only 3 months? What if "other" funds have gone through the account that are not taxable during the months 1 to 8? Not suggesting that this would happen but how can this be...

Hi all I am in the 3rd month of my IVA. I have been told by my IP that when the annual review takes place they will need to see my P60 and 3 months bank statements. I am a bit confused as to why they only require 3 months statements? Is this normal practice as i would have thought that the whole yea...

Hi there

I have a copy of the CCCS spreadsheet from 09/2008. Not sure how to attach it. Send me a private message with your e mail address and I will gladly send it to you[:D]

Cheers

FB

Hi Starboy. I do feel so sorry for you and your poor wife.Your IP seems to have no compassion at all.I am not sure if this is allowed in the IVA but have you got any friends or family that could support you financially untill you can get back to paying the full monthly IVA payments? Take care and re...

Hi Lizzie We are just going in to an IVA. We also have a lot of debt thats come out of a massive overspend on a building project! Trust me you will not find a nicer bunch of folks on this site. We had our initial interview with Melanie Nicholas on Thursday[:(], and am now waiting for her to pass our...

Hi all, first post from me. I currently own a audi worth around 37k. Its on finance with Audi over 3 years, with a balloon payment due of 20k at the end.

Would an IVA mean that th acar would have to go? Not that fussed if it does (well I am but a roof over my head is more important)[:)]