Posted: Mon Feb 11, 2008 12:27 pm
I am about to enter an iva thru debt free direct the above creditor has 29% of my debt i would have thought thats not worth propsing any ideas on this weclome. total debts £79000 no assetts etc
Northern Rock do not reject all IVA proposals - as is often suggested on this forum - but will critically look at the proposal to ensure that it is the very best return they could hope to achieve. If your IP feels the IVA is worth proposing, it is unlikely that they would waste their time unecessarily if there was a high risk of failure, so put your trust in them and let then do the negotation.
Good luck and don't forget to let us know how you get on.