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by Lisa Thomas
Fri May 24, 2019 2:15 pm
Forum: Ask IVA Forum and Industry experts
Topic: Husband trying to settle debts
Replies: 10
Views: 433

Hi Tracey

If he doesn't have any assets then a Debt Relief Order or Bankruptcy may well be a better option for him. That will also mean the £10k loan is not necessary.

Is there a key reason as to why he is nt exploring this option and is trying to borrow £10k instead?
by Lisa Thomas
Fri May 24, 2019 2:13 pm
Forum: Ask IVA Forum and Industry experts
Topic: Equity release at end of a IVA
Replies: 12
Views: 1120

If the house is in negative equity Bankruptcy may actually be a better option for you. The TIB will have 3 years to deal with their interest so it depends on the risk of whether you think the equity will materially change in that time. They will likely disclaim their interest in it, or a third party...
by Lisa Thomas
Fri May 24, 2019 8:44 am
Forum: Ask IVA Forum and Industry experts
Topic: Can debts on someone else credit card be included in my IVA?
Replies: 3
Views: 822

The family member will be the creditor, not the credit card company.
by Lisa Thomas
Fri May 24, 2019 8:43 am
Forum: Ask IVA Forum and Industry experts
Topic: Advice for sorting out debts
Replies: 2
Views: 296

You need to explore your options to see whether a Debt Management Plan, DRO, Bankruptcy or an IVA might be suitable for you.

I cannot advise based on the limited information you have provided but feel free to call me for a chat so we can narrow down your options.
by Lisa Thomas
Fri May 24, 2019 8:37 am
Forum: Ask IVA Forum and Industry experts
Topic: Husband trying to settle debts
Replies: 10
Views: 433

Also, what assets does he have?
by Lisa Thomas
Fri May 24, 2019 8:36 am
Forum: Ask IVA Forum and Industry experts
Topic: Husband trying to settle debts
Replies: 10
Views: 433

He should speak to a few advisers to give details of his financial background so that the best option can be explored. He can put the settlement forward himself - it means more legwork by him but take care to ensure you have every agreement in writing but you have already tried this and haven't been...
by Lisa Thomas
Thu May 23, 2019 1:47 pm
Forum: Ask IVA Forum and Industry experts
Topic: Husband trying to settle debts
Replies: 10
Views: 433

It's impossible to advise without knowing the full picture. It really depends on how much he would repay in an IVA (without the £10k) loan.
by Lisa Thomas
Thu May 23, 2019 9:14 am
Forum: Ask IVA Forum and Industry experts
Topic: I can afford repayments now - how do I get out of IVA?
Replies: 2
Views: 477

Remember all the payments you have made to date will likely be lost in costs. You will be back to square one again and could be at risk of Bankruptcy/recovery proceedings from creditors. They do not have to accept repayments from you. With the IVA, if you maintain your repayments they are all locked...
by Lisa Thomas
Thu May 23, 2019 9:13 am
Forum: Ask IVA Forum and Industry experts
Topic: Could an IVA work for me?
Replies: 3
Views: 291

I'd be happy to chat about your position and give you a second opinion if you feel that could help.
by Lisa Thomas
Wed May 22, 2019 1:53 pm
Forum: Ask IVA Forum and Industry experts
Topic: Removing a restriction
Replies: 4
Views: 305

Look at the history on this page:

https://moneyplus.com/about-us/
by Lisa Thomas
Wed May 22, 2019 11:57 am
Forum: Ask IVA Forum and Industry experts
Topic: Removing a restriction
Replies: 4
Views: 305

Hi Steve

Assuming your IVA completed successfully then your IP should have removed their restriction when the case was closed. You need to speak to your ex Supervisor to get them to remove it.
by Lisa Thomas
Mon May 20, 2019 11:44 am
Forum: Ask IVA Forum and Industry experts
Topic: Creditors statement
Replies: 4
Views: 463

They will send you an annual progress report within 2 months of the anniversary which will include a Receipts & Payments schedule.

Often the initial payments are taken in costs.
by Lisa Thomas
Mon May 20, 2019 11:42 am
Forum: Ask IVA Forum and Industry experts
Topic: Am I locked into my Iva?
Replies: 3
Views: 498

It really depends on your financial position - we cannot give advice without knowing more information but I'd be happy to chat to you and explore your options.

or try my video here as a starting guide with more detailed videos available from the You Tube Channel:

https://youtu.be/TgalT1vhn6M
by Lisa Thomas
Mon May 20, 2019 11:39 am
Forum: Ask IVA Forum and Industry experts
Topic: creditfix or shop around?
Replies: 8
Views: 529

It's always worth getting a second opinion.

You need to be able to work with your IP for up to 6 years.
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