I have 3 repayment loans, could I obtain an IVA?

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sid.sa

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Post by sid.sa » Thu Aug 05, 2010 11:03 pm
I have 3 repayment loans approx. £30,000 with my bank Father and Mother. Could I obtain an IVA
 
 

Shining

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Post by Shining » Thu Aug 05, 2010 11:08 pm
Hi there and welcome to the forum. Do you mean you've borrowed £30,000 from your parents? Sorry if I've read the post wrongly. xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Lisa2009

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Post by Lisa2009 » Thu Aug 05, 2010 11:45 pm
You probably could but your parents would be treated the same as the other creditor and only recieve a percentage of what they are owed unless you were lucky enough to pay back 100% in an IVA to all 3
http://mrsskint.blogs.iva.co.uk/ 'Our Story'


Nil carborundum illegitimi
 
 

MelanieGiles

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Post by MelanieGiles » Fri Aug 06, 2010 2:13 am
It is possible - but I suggest that you take advice from an insolvency practitioner. If your other non-associated creditors are also prepared to support your proposals, then there should be no reason why they should not be presented.
Regards, Melanie Giles, Insolvency Practitioner
 
 

Shining

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Post by Shining » Fri Aug 06, 2010 7:33 am
You could take a look at www.iva.com for a list of companies and some reviews of these as a good starting place. Always talk to 2 or 3 professionals to ensure you get that all important impartial case specific advice. All the best x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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