www.iva.co.uk

Good morning all,

Long time no speak!

My mum is thinking of entering an IVA and before we go this far, I would like her to see the allowable expenditure set by the IVA co's (as an average)

Does anyone have a copy that they can link onto the forum at all please?

She's not sure whether she will be able to do monthly or offer a F&F. For the F&F, what could be deemed an acceptable offer on debts totalling £99k, with a surplus of £1700pm after household bills?. (no equity in her property as on interest only mortgage)

Also, who are the recommended IVA co's? I concluded mine with Creditfix, but not sure if their is others out there now which could be better for my mum.

Thank you !!

The providers are very cagey about publishing the guideline figures as debtors are supposed to list what they actually spend. The last I saw was from 2015 --- I will try to find a link.

Interest only mortgages do not always mean no equity -- so look into that one carefully.

Personally I would avoid Creditfix (although many clients are happy with them ), they have too much against them for my liking --- I would shy away from all of the 'IVA factories' and go for smaller firms that treat you as an individual.

This article will give you a picture of amounts allowable https://www.mccambridgeduffy.co.uk/arti ... uidelines/

Thank you for your replies Foggy.

I have today checked with mums mortgage company (Helidor) and she has no equity at all.

Who are the smaller companies that are well established/experienced? Does anyone have recommendations.

I am with McCambridge Duffy for mine, cant fault them so far... seem to allow good reasonable amounts for spending and whenever I have a question they will email me back straight away or if I ring I'm always put through to someone who can help. After reading how some people are constantly chasing their IP's for answers im so glad I choose mcDuffy's.

Thank you for the recommendation Dora06.

They have been around for many years, from what I remember, so will get her to speak with them tomorrow.

Thanks again

I hope she gets sorted!