IVA Calculator - Do I qualify?

Maybe you could use it to reach a direct settlement with your creditors and avoid an IVA altogether. Depends on your circumstances and level of debt.

Hi You might want to get the IP/creditors to agree your new reduced monthly contributions first, based on the change in your circumstances, as if you are able to do so this will bring down the remaining balance and therefore any offer you might put forward. The figures you have mentioned seem reason...

How much are your debts? Are they manageable?

It might be worth considering your options.

You could watch my short video here on personal insolvency options as a starting point:

https://youtu.be/TgalT1vhn6M

*When I say recent it will have to be as at the month 54 value.

we are around the £5k mark so possibly. . Who is 'we'? Are you in an interlocking IVA with someone else? Is the £5k the total equity or just for your share? Is the property solely or jointly owned? Have you obtained a recent valuaiton and a redemption statement to include interest and penalty charg...

You have declared rent of £400 in your proposals - anything higher will be challenged by your IP and you could be at risk of failing your IVA.

The CC is sent to the Insolvency register.

Your creditors are also told that the IVA has completed and that they should update their records accordingly, but unfortunately many don't and you have to do a bit of leg work to tidy up your credit rating yourself..

Imagine they see in your annual review that you received a £10k windfall that you failed to notify them about...

I would recommend you instruct your Solicitors to try and fight the interim order and see if you get get a final one.

I can recommend a good insolvency Solicitor.

You might find this quick video I made about cleaning up your credit record useful:

https://youtu.be/PV4RzUY4BRM
Noddle, Clearscore and Totally Money are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/
https://www.totallymoney.com/

That is outrageous behavior from an IP who is supposed to be impartial and professional and is duty bound to act in accordance with an ethical code. You could consider asking a complaint. You will get to meet the debtor and the IP and put your questions to him at a physical meeting so i think this i...

Lisa Thomas wrote:

Just ask your IP, to cover yourself but they won't be interested in £69.

Sorry I had assumed your IVA was closed, but assuming it isn't then yes your IVA estate will likely be entitled to these funds and you have a duty to cooperate.

Have you established your equity to see if you have over the minimum share of £5k (assuming you have 'standard' terms?)

more info on my video here:

https://youtu.be/PHfc85n39U4

How to complain about your IP here:


https://youtu.be/l1wqUbNeW00

Just ask your IP, to cover yourself but they won't be interested in £69.

Unfortunately you will have to pay the windfall into the IVA unless and until the total debts, costs and interest have been paid.

You might be able to ask creditors to waive their right to interest, assuming it was chargeable under your terms.

https://www.youtube.com/watch?v=L8M98FI5OqQ