Hi, I was wandering what the acceptance rate is with an IVA

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Trevor.01

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Post by Trevor.01 » Mon Nov 17, 2014 6:34 pm
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Hi, I was wandering what the acceptance rate is with an via, my dept is with santander credit card and a santander loan equalling 13000 pounds. Thanks
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Shining

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Post by Shining » Mon Nov 17, 2014 6:36 pm
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Hi and welcome to the forum. An IVA drawn up by a good IP will have a very good change of being accepted as it's in their best interest for this to be accepted. Have you spoken to an expert in respect of your debt?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Foggy

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Post by Foggy » Mon Nov 17, 2014 6:38 pm
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Very few rejections. However, with one creditor your eggs are all in the same basket !

A chat with an IP will give you more specific information.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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mole

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Post by mole » Mon Nov 17, 2014 7:38 pm
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Not sure on acceptance rates but about 2 in 3 accepted IVA actually conclude successfully. So 1 in 3 fail.
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Foggy

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Post by Foggy » Mon Nov 17, 2014 7:50 pm
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Good point, Mole, some IVA's actually start with guaranteed failure built in due to unrealistic I&E's.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Michael Peoples

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Post by Michael Peoples » Tue Nov 18, 2014 10:16 am
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Almost all of our IVAs are accepted where the creditors are standard banks, credit card companies etc. However this figure reduces when HMRC and trade creditors are included as they have different criteria of acceptance than just return.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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