Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Mrs Moody, we considered going into an IVA and also found that we too would be paying back 100p in the pound. So we have done a DMP with paypal and they have been very good on our Income/Expenditure form. Even allowing for the fees for professional development which we have to maintain. Don't get me wrong we are on a budget but one which we can live on for the next 5/6 years. When we looked at the IVA, Melanie's company were very professional, probably not giving you all the answers you wanted to hear but there advice was very sound and realistic.
I hope you get sorted out, take a step back and plan what you are going to do. Its not the end, just a stop gap and probably one you will be thankful for in the longrun.
All the Best hope it all works out for you.
Excellent reply minime, and one I totally agree with.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
by the way melanie speaking from the heart based on your experience in the insolvency business,it not controversial,it is helpful and appreciated by myself and am sure all members and onlookers.
I went through the ringer with N/r
However I was fortunate what i have noticed Melanie and Co will tell you that N/r are correct and that is the way the law and guidelines are stated.
I and E is a particular bad point with me as as no one will publish the acceptable guidelines
It would appear that your I a E was overstated we all suffer that problem but again with the basics they can't complain.
I nearly went B/r as a result of N/r rejection.
However these were the guide lines from the B/r I/p
3 years payments and as there was substantial equity in the house but the other half was owned by my wife a reasonable offer would be acceptable EG the i/ps expenses
Dear all, thank for your replies. I feel much better today and have been thinking with a clearer head. It does seem to turn out that Payplan have sent us down the wrong road, and their allowances unrealistic. Andy has kindly looked at our figures and agrees that we have been poorly advised. To be honest the amount that we would have paid back wasnt worth being stuck in an IVA for 7yrs for and certainly not worth messing with my husbands pension. Anyway, I feel a huge sense of relief and look forward to recieving some more info from Andy & Co. They have a pretty good reputation on here, so I think we will be in safe hands. Payplan! Grrr!
Can I just say in answer to iamsobad that the reasons the guidelines aren't published is because creditors don't want people claiming the maximum despite what they actually spend.
Anyone who is considering an IVA should put down exactly what they spend (within reason obviously!) and if there's a good reason why it's over the guideline amount, and this can be proven your IP should explain this to the creditors.
You are definately in safe hands with Andy. He will fully appraise your situation and help you to look at all other options - clearly an IVA was the wrong way forward for you from day one.
Its A DMP for us now Mel. BR definately not an option. We've been stashing as much as we can for emergencies in the IVA but now feel we can breathe a bit and I have a much needed hair appointment in the morning! Ooh I feel better, I'm even looking forward to getting back to work on Monday after 4 weeks sick
