www.iva.co.uk

Hi - Mel

I have been posting on this site for a few months now wanting to go for an IVA - but the HSBC 40p in the £ is all that is stopping me.

So I have been sitting and waiting as my payments are all up to date on my accounts - and I am using credit to pay credit e.g. i will pay £135 into my halifax credit card account and withdraw £85 as soon as the payment hits the account as the intrest is £50.

I want to get things sorted ASAP but just think it will have to be bankruptcy if HSBC want this 40p in the £.

I have spoke to a few company's regarding an IVA, including your team and have been advised I need 40p in the £ or we can not take your case on - Has this now changed would you take a case on for 25p in the £ where HSBC is the main credit company.

Last time I spoke to you you said a 6 year IVA may be an option – ideally i would like to go for a 5 year one, as this is not a short period of time and I want to be 100% committed once I am in a IVA.

I am £64,000 in debt and my debtors are listed below:-


HSBC £21,000
Halifax £10,000
Egg £7,000
MBNA £6,500
RBS £6,100
Amex £4,400
Marbles (HSBC) £4,000
Citi £1,500
Capital One £1,000
Red Cat £1,200
Littlewoods £1,000

Thanks

also i am not a homeowner

Yes Imran

If you wish me to help you to understand your options, I will definately look at this for you, especially as we may now see that 40p hurdle rate removed following an important meeting which was held for insolvency professionals in London yesterday suggested that this may happen soon.