what would be a resanable offer?

[n_l]

Hi
I have been in a iva since sept 2004, total debt £27,777 and im paying £433 pcm for the first 4 years and £516 in the final year which is a total of £26,976 and after looking at my voluntry arrangement only 68% goes to my crediters. so i asume the rest is kept as fees by the iva company..
I made a offer in october 07 of £5000 whitch the iva company refused saying i need to offer more, what would be a resanable offer? Also my partner called are morgage company halifax to see if we could have an advance on are morgage as we only part own and can not remorgage, and the answer was yes the only thing is we have to go into the branch with bankstaments ect..
If they find out im in a iva will they give the advance to pay off the iva and one of the credit cards i owed money was the halifax is this a good idea or should i try to change morgage companys if thats possible. look forward to your reply..

[Adam Davies]

Hi
To return the pledged dividend you would need an offer of about 9K,however if for some reason you were not able to continue making full payments then your creditors may accept less.
You have nothing to lose in trying to remortgage once your IP agrees to putting your offer forward.
I presume that you do not have a fourth year equity clause in your IVA ?
Regards
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

Your mortgage company will probably credit check you when you make the application, but if they refuse to lend there are other lenders in the sub-prime market who may be interested - so don't give up.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp