is my rent too expensive for an IVA?

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Adam Davies

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Post by Adam Davies » Fri Sep 19, 2008 11:52 am
Hi
Intersesting,are you in negative equity Kallis ?
It could be that your creditors still felt that you were offering a decent return to them.
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size5

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Post by size5 » Fri Sep 19, 2008 12:08 pm
Good point.

The 40% is a benchmark that some creditors don't like to see exceeded, but if an offer is the best that it can be it would be foolish to not at least have a crack at an IVA proposal.

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kallis3

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Post by kallis3 » Fri Sep 19, 2008 1:06 pm
Andy, we had about £40,000 equity in the house when we did the proposal. Hubby is paying 38p in the pound, I'm paying 31p. On our joint debts, that obviously equates to 69p in the pound. It's just 31p for the ones which are solely mine (hubby didn't have any).
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Adam Davies

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Post by Adam Davies » Fri Sep 19, 2008 1:13 pm
Hi
Well you are giving a very good return Kallis,probably why the housing costs wre not an issue
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kallis3

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Post by kallis3 » Fri Sep 19, 2008 1:21 pm
Could be. I'm glad we weren't forced to sell anyway.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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