What percentage do Northern Rock normally like ?

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Nigeld490

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Post by Nigeld490 » Fri Mar 02, 2012 8:03 pm
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What percentage do Northern Rock normally like on a return in IVA's i have heard it is between 30 and 40% is that true.
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kallis3

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Post by kallis3 » Fri Mar 02, 2012 8:11 pm
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Hi and welcome

I don't think there is a specific percentage - they will be the same as the others and look at affordability.
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
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MrsR

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Post by MrsR » Fri Mar 02, 2012 8:48 pm
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Hi Nigel,

My meeting was Monday just gone and Northen rock are one of mine.

I believe they do not have a 'requested' amount that they want, but may ask for a modification in the arrangement. Mine was an increase of £12 to my amount and an extension of 12 months.

You could speak to your IP and ask.
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!

Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA :)

Completion Certificate received- 30th April 2015!!
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insolvencypaul

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Post by insolvencypaul » Fri Mar 02, 2012 11:20 pm
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They will likely accept what you agree with your IP

They virtually ALWAYS ask to extend to 6 years[8D]
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MelanieGiles

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Post by MelanieGiles » Mon Mar 05, 2012 1:23 am
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They have no minimum dividend requirement and do not always ask for the IVA to be extended to six years - only if there is more than six years left to pay on their loan.
Regards, Melanie Giles, Insolvency Practitioner
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