www.iva.co.uk

Hello again
Thank you for answering my question 
Other thing, what do you think about Debt Matter company? (I ‘m trying to do anything in order not to enter Bankruptcy)
This company have sent me a proposal of £301
You know it’s a 5 years contract, and I was looking for not pay more than £250, at the beginning they sent me a proposal of £321, at the same time I was looking for something like £250, I have told them that I can’t go with £321, the lady was talking to me told me that she will ask her manager and she came back to me to say that they can only offers £301,
For me was shopping around and could not find a company who can offer me £250
And most of them told me go for it is a good deal, so what do you think should I carry on looking or should I go for it before I feel sorry I did not in the future, and just to let you know I have sighed and sent them back the proposal, the one with £301, and in case I managed to find another company with less monthly payments, can I stop what I did with Debt Matter. Thank you for your help
Sam William (aqb)

make sure you will be able to afford these payments you will need to for the full 60 months and it is a struggle this is the most important stage of an iva and the root cause of most failures dont be pressured into accepting a payment you cant maintain for the term.

if you havent signed any documents there is no harm in getting more opinions from more experts one or two on here a highly recommended melanie and david i for one wouldnt go near a big provider

Hi Sam

have a look on www.iva.com for revies of companies by the clients that use them.

It is also advisable to get a couple of opinions before deciding on what to do and who to use.

Also remember that an iva is based on what you can afford to pay back based on your disposable income and you should not shop around for lower payments as these can always be requested to be modified at your creditors meeting if they see you can afford more.

Good luck

Sam

If you believe that you can only afford to pay £250 per month, then trust me that is probably all you can afford and to be bullied into paying more is a recipe for disaster - or at least a failed IVA.

I suggest that you take a second opinion and put the IVA proposal on hold in the meantime. IVAs should only be entered into if you can genuinely afford to make the payments and live a relatively comfortable life.

Hi Sam.
Did the IP firm discuss your income & expenditure with you before sending out the proposal? The reason I ask is that some firms use various guidelines which they believe are set in stone. However, ultimately the proposal is yours and if you have expenses over and above or outside those used by the IP firm then the proposal should be drafted on that basis.

We have prepared proposals where there have been expenses for pet horses, travelling to sick relatives, private schooling and other items not normally accepted or listed on the income & expenditure guidelines. Provided there are good reasons given for the expenses creditors do normally accept.

As Melanie says, take other opinions, for to enter an IVA which seems doomed to failure from the start is pointless.