www.iva.co.uk

Hi, I own a horse and was wondering if I would be asked to sell him if went down the route of an IVA. He does not have a huge monetry value but to me he is priceless as I love him to bits, I have recently got someone to part-loan my horse 3 days a week which means they pay a proportion of his upkeep but the horse still belongs to me. I have considered putting him on full loan but having no involvement with him would drive me insane. It would break my heart to have to sell him but I understand he will probably be looked upon as a luxury/unnecessary expense. Any advice would be greatfully received.
Thank you in advance
Mandy

What other costs are incurred,livery wise and what value would you put on him??

My wife has a horse and wasnt forced to sell him,but had to reduce her livery bill down by going DIY,which is ok if you have the time(or a good husband like me who helps!!).

Paul

Dont forget when working out your costs to include worming,innoculations etc etc.

Paul

Hi Paul, my livery is DIY and costs range between £100 - £150 a month depending on summer/winter and shoeing. I have a spreadsheet on my pc at work which I enter my fees into each month and it also gives me an average cost, will have to take a copy of it and get it onto my home PC.
Mandy

What I would suggest is to talk to a few IVA firms and see what they say regarding the horse,what value would you put on him?

You may find that you could keep him as long as you made savings from other allowances. For example we are allowed £85 a week for groceries,but can get by on £60-£65 some weeks,therefore saving £20-£25.

Just be honest when you speak to an insolvency firm,and see what happens.

Paul

Those of us with pets would never give them up - be they large or small!

Give one or two IP's a ring and see how you get on. Visit www.iva.com

I have two dogs, plus insurance for both and had no problems with putting those in the IVA.

Sorry Paul, missed that in your first post, he is 17 and would prob be worth between £1000 - £1500.
Thank you for those words Jan, my view is that if it breathes it has a home for life

You should not be expected to give him up, he is your pet, just as much as a dog or cat would be.

I'm a sucker for animals - I'd open a sanctuary if I'd got the money!

You and me both Kallis. I have 4 dogs and I'll eat my furniture before I give them up.

Opps they've already eaten the furniture.

It doesnt matter how down i feel about my financial situation, I come on here and read posts and someone always makes me smile - thank you Scirocco

Some IPs would see this as a unecessary expense, others will be entirely sympathetic. Even if creditors will not allow all of the costs, you could offer a few more payments at the end of the IVA to compensate.

I once got an IVA through for someone who had 13 dogs, and recently got a couple through who rehomed ill-treated guinea pigs. They had 21 of them at the time we put the IVA before creditors. To be frank it is all about the way a case is presented - and I have a few horse owners in my portfolio, with one couple who have four donkeys.

What other costs are incurred,livery wise and what value would you put on him??

My wife has a horse and wasnt forced to sell him,but had to reduce her livery bill down by going DIY,which is ok if you have the time(or a good husband like me who helps!!).

Paul

Mandy I would strongly recommend a phone call to Mel's office to discuss your situation and see where you go from there.

Mel could you put forward a proposal where rather than sell a horse at a value of £1500,the debtor got to maybe make 3 additional IVA payments at the end to keep creditors happy then??


Paul

I wouldn't even go as far as that Paul - unecessary in my opinion. But additional payments may have to be made to justify the additional upkeep expenditure required to look after the horse.

Thank you for your posts, I spoke to a debt management company the other week and they told me to say nothing about the horse and that an IVA sounded the way forward for me. How can I keep quiet about him?! I need to try and keep him if at all possible and keeping quiet would not get me anywhere.