worried about the ratio of being declined

[vic74]

Hi ive got a debt of £30000, £12000 with HSBC sadly! and have been approached by a company(clearstart) to help me with an IVA but im still worried about the ratio of being declined and forced to become bankrupt which would distress my ill elderly father whom i live with, can you help ?

[cr15py]

I think 80% of IVA's are approved, so I wouldn't worry too much.

Who else do you owe money to, what is your disposable income (before repayments to your creditors) and do you own your own home, if so is there any equity in it?

[rachellxx39]

We had debt of nearly £60 000 between us. Cleartstart were fantastic . I had 17 creditors and my husband 5 creditors. I was worried sick that i wouldnt get enough votes for it to be accepted but today our iva was approved . I can not fault Clearstart ,from the start to getting our ivas approved they have been more than helpfull . I hope this helps .

[OPTIMIST12]

vic74 -

You will never know unless you try!!!

Your I.P. / IVA Company will soon tell you if you have a good chance of success in getting your IVA accepted. I never thought in a million years that my proposal would be approved - the whole concept of an IVA just sounded to me like it was too good to be true. But - much to my surprise AND gratitude - it was approved.

Why not start the ball rolling tomorrow? Make that phone call!!

Good Luck.

[Beechy]

Generaly with HSBC, as long as the dividend is 40% plus and the proposal has merit they will agree.

Did you apply to clearstart or did they ring you

Dave Beech

[vic74]

Hi Beechy, thanks for the advise i contacted insolvency uk (i think) it all becomes a blur after a while and the first company they set me up with didnt get back to me so Clearstart contacted me afterwards! may i ask why you asked?

Generaly with HSBC, as long as the dividend is 40% plus and the proposal has merit they will agree.

Did you apply to clearstart or did they ring you

Dave Beech

[vic74]

Hi thanks for your reply, i dont own my own home sadly (or gladly in this case) but i have a bout 300 pounds disposable for the creditors!

I think 80% of IVA's are approved, so I wouldn't worry too much.

Who else do you owe money to, what is your disposable income (before repayments to your creditors) and do you own your own home, if so is there any equity in it?

[vic74]

If you dont mind me asking who did you owe to? Im just trying to get a grip of things thanks

We had debt of nearly £60 000 between us. Cleartstart were fantastic . I had 17 creditors and my husband 5 creditors. I was worried sick that i wouldnt get enough votes for it to be accepted but today our iva was approved . I can not fault Clearstart ,from the start to getting our ivas approved they have been more than helpfull . I hope this helps .

[Beechy]

Just interested how cs found out you were having probs

Dave Beech

[vic74]

Well thats how! sorry far to curious for my own good sometimes, have you heard anything about the companty on the grapevine? i did have capital bank contact me after i had filled a very basic query in!

Just interested how cs found out you were having probs

Dave Beech

[Beechy]

I am not in a position to answer this as I work for another insolvency practition, but I am sure if you do another post with a specific question relating to Clearstart you will receive a cross section of replies. This will allow you to make a considered judgement



Dave Beech

[james.c]

if you go in to an IVA I would put that £300 to one side just in case of a rainy day whilst in the iva

no matter how bad money gets, theirs stll alot more important things in life

[Skippy]

Have a look on www.iva.com - you will find reviews of hundreds of IPs.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

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

[vic74]

Apologies i meant that what i had for them!! sadly not for myself!

if you go in to an IVA I would put that £300 to one side just in case of a rainy day whilst in the iva

no matter how bad money gets, theirs stll alot more important things in life

[Beechy]

The chances are that once you have consulted an IP they will advise you to stop paying all your unsecured creditors. This should allow you to build a small reserve, also with in you I an E there should be a contingency allowance of around £50 (Sometimes alittle more if you have several children, you IP will advise). Also if you do finally have you IVA accepted and you do have unxepected problems consult your IP they will try to work through the problems with you.

Dave Beech