Am I correct in saying that an option would be to go for a dmp for a while and some of the debts would be sold on to companies more accepting of an iva??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Not necessarily. The offer put by Melanie is the best available to creditors in respect of her clients circumstances. It would have been based on affordability and any other "special" circumstances of the case to offer a 17p dividend. Melanie would not have put the case forward if she did not think it acceptable. Crediors may not sell on the debt to others that might accept an IVA - there is no guarrantee.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I believe John is already in a DMP anyway at the moment as he has applied for an IVA before Paul.
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
Sorry I meant to say that if the proposal failed,then would a DMP be a good idea for a period,allowing some of the debts to be sold on,then re-applying for an IVA.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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
