i've worked out all my unsecured debts they mount to £20000. my family are in a position to help me now. they have offered £15000 as full and final payment.
Hi iva [:)]
just wanted to welcome you and say it looks good to me, but I'm not an expert and I am sure one will be along soon to offer more light.
Good luck.
Never take a moment or a loved one for granted in the blink of an eye they may be lost forever.
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
Plus of course the fees to cover the set up of the IVA -
However what are your personal circumstances and what is your DI?
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.
If they can make a full and final payment and can get it all out of the way at once, that's even better!
Good luck, and let us know how you get on.
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
It will depend on your personal situation and your disposible income.
If you are clearly insolvent then your creditors may well be attracted to a one off payent and write off the rest of your debt. If you pay over 15k on 20k of debt your creditors may receive around 12k, a 60p dividend.
Just be aware that your credit file will be ruined for six years if you do go down this road
Regards
