www.iva.co.uk

Read a few bankruptcy notices at the weekend,one was for a zero dividend,and the other two were for between 1p and 3p in the £1.
A huge difference to the return under an IVA.
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

Hi Andy,

My dividend now that i am BR is going to be 0p (I have no assest and no equity in my home). I had confirmation from the IP that the variation propsal offer of 29p was rejected on the 2-04-07, however we petition BR on the 28-03-07 so it was no doubt a wise thing for us to do, it does seem crazy that they would rather see no return than some in situtations like many, but unfortunatley if they continue with these high dividend demands i feel i am going to one of many who's IVA have or will fail.

It does not seem to make sense.

(I apologise for my keyboards poor spelling and grammar)
http://coco.blogs.iva.co.uk

Hopefully the creditors will start to compile statistics which compare the dividends they turned down against those available under bankruptcy proceedings. It would be interesting to see those in say a year's time, but I suspect noone will actually bother.

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

Hi
When you consider that Banks are owned by shareholders and that they are turning down returns on bad debts of 25p plus in favour of a possible zero[actual as in Coco,s case]dividend then surely they are not acting in the best interests of their shareholders.
regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

My IVA was approved at 27p in the pound, and the BR comparison was 2p. I am going to be repaying £115 per month for 36 months in an IPA, but if my creditors had been more accepting I would have carried on with the IVA but requested a variation. It would have been in their interest in the long run, but hey ho, they're the ones who are losing out.

Onwards and upwards!!!

View my blog at http://skippy13.blogs.iva.co.uk/