www.iva.co.uk

I have c cards MBNA £24500, MBNA £3200, Monument £2000, Mint £9400, Tesco £4200, Goldfish £5000, BOS £6000, AA Visa £3500, BOS £6500,Abbey National O/D £3000, Amex £2000. Tot £69000. Have secured a loan on my property, .most I could secure was £13000, as Valued at £150000 and mort £120000. My father has offered me £5000 so I can offer a lumo sum IVA of £18000 as I have no available monthly income and wodnered what the chances of this being accepted are.

Hey robbo, welcome to the forum. Can you just give some details of why you haven't any available monthly income and then we can help further.

Hi
It is possible,although a very low dividend,if you can convince creditors that it is the best offer available.
You will need to show them that you have no disposible income.
Speak to several companies to gauge their thoughts on the options available
Regards

Hi
It is possible,although a very low dividend,if you can convince creditors that it is the best offer available.
You will need to show them that you have no disposible income.
Speak to several companies to gauge their thoughts on the options available
Regards

Althought the dividend is low, I would certainly be prepared to put that sort of offer forward for a client. 20p in the £ has to be better in five months, over 25p in the £ drip fed over a five year period. Of course this would depend on knowing far more about your personal circumstances, and a full review of your income and expenditure.

How much are the secured loan repayments going to be each month?

Melanie is right. An IVA may be the appropriate solution. Discuss with an experienced IP - visit www.iva.com for a selection. Good luck and stop spending!!