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hello
i am just about to start the process of tryng to enter into an iva my current debt is around £34,000 and my main creditors are barlcays and egg. i have reading up on iva's and have noticed that alot of iva's are being declined. can any one offer advice to ensure that mine is accepted. i have already opened a basic account and my iva consultants has worked out that i can repay approx £6OO per month to my creditors. also have to write a letter aboout my current debt situtation can anyone offer advice on that as well. many thanks

Hi, first of all if your paying £600 a month this will equate to £36,000 over the 5 years so more than you owe now. If you're 100% sure an IVA is for you then I don't see why an IVA would be rejected as I guess the return will be near the 100% less whatever your IP is charging. I would say hoepfully your IP is dealing on a no win no fee basis just in case it fails, that way you don't lose out.

This has been answered on another post

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk