www.iva.co.uk

Hi,

My IVA proposal is about to be sent to my creditors by my IP. Its quite complicated, I had been paying a debt from a mortage company who repossessed my house over 10 years ago. The original debt was over £20,000. However they agreed to settle for £5,000 if I continued my monthly payments, which have only been £20 per month.

My IP has included the original debt in the proposal meaning this creditor will get more than their £5,000. Although not much more!

Do you think it would be wrong of me to contact this creditor and tell them about the IVA proposal coming their way and pointing out to them that they would benefit?

Thanks,

Ruby

Leave that to your IP Ruby - I am sure that this is in hand and that is what you are paying for after all.

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 for your advise.

ruby

ruby, you are paying your IP to handle your IVA for you. You have done your part. You relax and let your IP do his/her part.

Good luck too in getting it approved.

Take care

All I have left is my humour.

View my blog http://www.debtdummybankruwoman.blogs.iva.co.uk.

I agree this sounds like a job for your IP. They will be experienced in negotiating with creditors and are the best placed to do this.

Best Regards
Oliver

Thomas Charles and Co Ltd.
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