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Posted: Mon Aug 03, 2009 4:09 pm
by soph1976
well we have sent all our paperwork off to our ip wat happens now?
also i been reading on here people unemployed cant have ivas ~ well myself and hubby are not working, hubby has a sholder injury so i look after him and 4 kids but our ip said we will be able to get iva as he is on injury benefit now i am confused!
Posted: Mon Aug 03, 2009 4:23 pm
by kallis3
An iva is decided upon affordability. As long as you have enough disposable income once your priority bills have been paid then an IVA can be proposed.
I'm sure your IP will be putting your best offer forward and wouldn't have accepted you if they didn't think there was a good chance of it being accepted.
Posted: Mon Aug 03, 2009 4:57 pm
by Michael Peoples
Jan is right. Some creditors have a problem with IVAs that are reliant on means tested benefits but affordability is the most important issue and your IP will have addressed that. Good luck with the proposal.
Posted: Mon Aug 03, 2009 11:07 pm
by Debtwitch
There's nothing to stop a proposal being made where the majority of the income comes from benefits, but of course, it all comes down to affordability.
Good luck!
Posted: Tue Aug 04, 2009 12:14 am
by MelanieGiles
I absolutely agree. Creditors were happy to lend to you when you were in receipt of benefits, and now the compliment needs to be repaid.