www.iva.co.uk

Well its been a very long but quite week. I had a phone call a couple of days ago from one of my creditors saying I had now missed a payment I explained that I was going in to a IVA and was waiting for my proposal and they were fine about it.
I have called all my creditors over the last couple of days and let them know what is going on. To be fair I did not have any trouble from any of them. In fact a few thanked me for taking the time to contact them.
Once I have the proposal is it normally straight forward to read or will their be lots of legal terms ? . I want to know what I will be signing for .

I depends on the IP you have chosen to be honest. Some can be very verbose, others are written in plain English, but you should not sign anything you do not understand. If that means a trip to the IP's office to meet them personally, which I encourage with all of my own clients, then it would be a day and travel costs well spent.

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

I just had a proposal sent....

I read everything but....pay attention to:
1.Read your history as to how you got into debt.Is it accurate, dates and things, can you better it??
2.Read the amount you are paying and expenditures.Make sure it what you can afford.

3.Winfall conditions -additional monies you might come into during the iva...

That's all for me, might be more for others...