Wed Sep 11, 2019 11:46 ammark343 wrote:
Ok, so the only pros of the Iva are making the debt more manageable but lower repayments. The budget won’t allow for you to have hardly any spare income and if you can make any extra money then it will be accounted for and taken away. I wish I could just turn back time.
Extra earned income, over and above that agreed at the outset or on review, will be shared with the creditors, roughly half each (after deductions). Any qualifying windfall, inheritance or asset disposal will be taken in full. Any of the debt not paid at the end of the IVA is written off and contractual interest on the debt is stopped.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi,
Everything is being confirmed to what I have previously read. I just want to make sure i know exactly what I’m doing before I enter an Iva, I have been managing to make all payments with just a couple of late payments and I hate the situation I am in but I can’t see a way forward so it looks like I will have to enter an Iva. Is there any company’s like step change where you can sit face to face with someone and go through a budget sheet?
Most firms no longer work face to face -- it used to be compulsory for self employed or not straightforward cases, but not these days. I am sure that you will find a firm geographically close by, if you would prefer a face to face and some firms will get an agent to visit you. Wherebouts are you (roughly) ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
