www.iva.co.uk

been reading posts. When it says paying 55p in £ back, is that then additional to Iva fees, As some fees seem to vary greatly.

Just trying to do research as its a minefiled on companies out there.

presume better off being with a small company than a large one, as just one of a number.

Suppose time span on getting a iva sorted, varies greatly. depending on which companies you have debt too,

How long to the creditors have to get back whether to reject or accept iva.

Know you have to have at least 3, but what if its say three companies say for example Virgin, but its all under MBNA does that then just count as one.

This is a great place to get advice when you are feeling so vunerable. and then glossy adverts in magazines attract you.

what would happen if you lost your job, or possibly then went down route of self employed, does that make it harder for a iva??

Hi there

The dividend is calculated after the fees have been drawn. And it is a mith that fees vary greatly - fees these days are pretty much now governed by creditors, so they are more consistent that they have every been.

An IVA will normally take a couple of months to put together, but this can be shorter or longer depending upon your circumstances and the quality of information you provide to the IP. Once the proposals have been agreed and signed by you, a creditors meeting is then summoned giving at least 16 days notice to the creditors.

You need to have at least two separate creditors with three lines of credit. So your example would not work.

If you lost your job whilst in an IVA, the IP would need to discuss the implications of this with you, and decide whether to allow the IVA to continue, to be varied or to be failed. if you become self-employed, so long as this does not affect your ability to fund contributions, this will be of no concern to your IP or creditors.

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