www.iva.co.uk

I am in an IVA and have been going for approx 13 months,
my question is if a member of my family was willing to help with some money can I re-negioate my IVA ?
Also I've had 2 people call me to discuss if I was mis sold an IVA and that it would have probably been better to have gone bankrupt, I am worried that I would lose my home, I don;t have much in the way of equity, would I lose my home and are these people only trying to get me to go bankrupt as they are in it for some money as a business?
IVA watchdog was one of them and the other was an accountant

Hi,

Firstly, ignore these people who cold call you - they are only interested in making money for themnselves. They will charge you large amounts of money on top of the court fees for something that you could do yourslelf if you needed to.

The only thing you can do with your IVA, if you had help from friends or family, is to offer a full and and final amount to your creditors and if this was accepted the IVA would have finished.

If you are happy with your IVA and have no problems with it, then I would carry on as you are.

These companies should be stopped.

Hi Pacab, I totally agree with Jan. Please ignore the callers, they are only after the fees they charge and do not have your interest at heart at all.

If a memeber of your family is prepared to help you finish your IVA early, then contact your IP and propose this. It depends on how much you would pay back under the full term of the IVA versus the amount you're prepared to offer. No harm in trying.

Other than that, if you're happy with the IVA and are managing then I would leave it run.

If you have any more questions please ask xx

How on earth do these idiots know that you would have been better off being bankrupt. The only thing they know about you is the details they have obtained from the insolvency register - when will that thing ever get removed from internet search engines.

If you are happy with your IVA, are finding the payments affordable, and have a good working relationship with your IP, I would stick with it.

Bankruptcy is set to get much harder in terms of ongoing payments in the New Year, my spies tell me, and all these guys are interested in is how much money you will pay them in fees.

I presume you mean the IPA's Mel?

Please excuse some of my posts - new laptop and I seem to be developing dyslexia whilst getting used to it![:)]

Yes Jan - I gather that the 50% to 70% criteria is to be hardened to 100% of disposable income probably being demanded - but it is still over three years of course.

Mel, do you think they will go back through existing IPAs and demand 100% of the disposable income?

I don't see hhow Skippy, because you have already spent the money & budgeted accordingly.

I know they tightened up on my allowances when I asked for my IPA to be reassessed - if they had agreed with me (and I'd hardly increased anything) I would be paying £100, not £161 a month.

Hi
Interesting to see that they may be taking 100% of DI in any future IPA.
It is about time that the IVA v Bankruptcy option was weighted in favour of an IVA or at the very least the same.
Regards

Totally agree Andy, as we said yesterday there is such a gulf in allowances and repayments between IVA/ BR.

I agree as well - neither option is an easy way out, but I do think those of us in an IVA seem to be unfairly penalised compared with bankruptcy.

No Skippy - I don't believe that they will reassess existing IPAs, even if the tightening measures do eventually come in.

I agree that an IVA should be a more attractive option, and thanks for putting my mind at rest Mel.

It would be extremely unfair if this was brought in retrospectively!

I would think that the amount they have on the books at the moment, so to speak, plus all the new ones coming along, they wouldn't have time to go through them all.

It wouldn't be fair anyway.