www.iva.co.uk

Hi all,

This is my first post although I have been reading everyone elses for quite a while now, I could never pluck up the courage to post myself, My problem is that I have received my IVA Proposal today and after reading through everything I am not sure that it is what I want to do, My family have offered to help me pay off all of my debts I am just worried about letting my IVA Company down and also I was wondering if I am liable for any costs if I back out at this stage

Hi inamess and welcome to the forum

Do not worry about letting your IVA company down - they will be delighted that you have found an alternative solution, and I am sure will not charge you anything. However, why not take some money from your family and offer a full and final settlement based IVA based upon the dividend you are currently offering. This will limit your exposure to repaying the money being provided by your family, although it does leave your credit rating impaired for the next six years.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Thanks Melanie,

I would have let them know sooner if I had known myself, I just can't help feeling guilty that a lot of work has gone into my proposal and there is a section in it r.e supervisors and nominees fees stating about photocopying, postage and telephone costs etc will I not be liable for any of these, I can't really afford to pay any more money out, With regards to the Full and Final IVA, I have spent the whole of this afternoon ringing around my creditors and I have managed to get decent Final Settlement Figures from most of them, I just feel that this is the best way to do it rather than to still have an IVA for 6 Years, I am very scared about ringing my IP Company and telling them this

Dont be - it won't be the first time or the last that they take this sort of call.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi inamess
This is your life,you need to think of your own well being and not that of your IP.
They win some and they lose some,thats life
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp