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HI
I am looking to undertake an IVA but the practioner I spoke to said that he thought I would be better off going bankrupt. Something that would hinder my career prospects. he also said that I would need to pay at least £2.000 up front to show that I was solvent? does this sound right and that NR who I have a main debt with are not taking on IVA's at the moment wanted to double check this before I delve deeper into this option! many many thanks

Hi af and welcome to the forum.

Sounds like he is an IP who doesn't do too many IVAs!

Northern Rock have a tough policy at the moment, but I have not received any rejections recently. I do feel that this is all about the quality of your proposal, and if properly presented and demonstrating that you have clearly thought through all of the alternatives, there is no reason for creditors to reject.

You should certainly not pay any up front fees (what does he mean by showing you are solvent - how ridiculous!). The main thing here is do you want to propose an IVA? If so then find an IP who is not afraid of a challenge and is prepared to represent you.

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

a.f
I bet your glad that you found this site !!
If you have any other questions then please post
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