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Posted: Tue Nov 06, 2007 4:01 pm
by hdl
The three companies I owe are: Barclaycard, Lloyds TSB and Lloyds Credit Card.
What pence in the pound are they likely to accept in an IVA agreement ?
I spoke to one IVA Practioner today who said in the current market it is unlikely to be anything less than 40p. However the consultant I spoke to at Payplan said 25p.
Posted: Tue Nov 06, 2007 4:52 pm
by MelanieGiles
Most of those creditors have a general requirement to receive 25p in the £, although there are no hard and fast rules. So long as you are making the best offer based upon your circumstances, in theory a lower offer could be made, but it must still be cost effective to propose the arrangement at those lower dividends.
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
Posted: Tue Nov 06, 2007 5:05 pm
by iva experts
In an IVA you must offer as much as you have left over from your income minus your living expenses. If 25p/£ is what you can afford then this will have to be put forward.
Best Regards,
IVA Experts
http://www.iva-experts.co.uk/