Search found 3080 matches

Search found 3080 matches Page 1 of 206
by size5
Mon May 14, 2018 5:21 pm
Forum: Ask IVA Forum and Industry experts
Topic: If I move in with my mum will it affect her IVA?
Replies: 5
Views: 5420
Mrs Size would let the kids move back in rent free, I would not. Apart from inevitably losing that battle, this would clearly have a negative effect on our budget as real life doesn't reflect ideal scenarios, so you are likely to indirectly push your mums expenses up, even if only on stuff like gas,...
by size5
Mon May 14, 2018 5:13 pm
Forum: Ask IVA Forum and Industry experts
Topic: IVA Information
Replies: 13
Views: 5333
A full and final settlement looks as if it was never an option, if I have read the posts correctly. The only way to annul a Bankruptcy that has already been paid for by creditors is to give them a better return that they would get in Bankruptcy. This especially applies to HMRC, who are very patient ...
by size5
Wed Mar 14, 2018 4:37 pm
Forum: Ask IVA Forum and Industry experts
Topic: Lump sum offer
Replies: 10
Views: 4248
A lump sum has more chance of being accepted than a monthly payment, that is for sure.

My own question would then be, given that you have large debts, no assets and are solely reliant on State Benefits for income, why don't you just go Bankrupt? £680 is a lot less to pay than a lump sum?

Regards.
by size5
Tue Mar 13, 2018 6:13 pm
Forum: Ask IVA Forum and Industry experts
Topic: Lump sum offer
Replies: 10
Views: 4248
Stepchange are the only organisation that I have come across where financial statements do not offset DLA/PIP in its entirety. The truth is that you have no disposable income at all, and a monthly payment offer would be rejected by your creditors anyway. How much debt do you have? Do you have any as...
by size5
Wed Mar 07, 2018 10:24 am
Forum: Ask IVA Forum and Industry experts
Topic: Do Zopa reject IVA's?
Replies: 3
Views: 4873
Many creditors have a public stance when questioned that they review each case on its merits. Zopa, Amigo, Everyday Loans and Link, amongst quite a few others, will all tell you the same. Statistically, they will accept a few here and there, but they reject the vast majority, often for no good reaso...
by size5
Tue Feb 13, 2018 6:29 pm
Forum: Ask IVA Forum and Industry experts
Topic: Has anyone heard of Swift Insolvency?
Replies: 4
Views: 3520
As with any firm, ask if they will require payments before an IVA meeting of creditors is due, how many (some ask for more than 1) and what will happen to that money should an IVA not be approved. Once you have answers to those, you may be in a position to make a more informed decision for yourself....
by size5
Tue Feb 13, 2018 6:22 pm
Forum: Ask IVA Forum and Industry experts
Topic: What happens if a creditor rejects IVA?
Replies: 6
Views: 3135
Going BR with a £6k vehicle is not really the best idea if the OP wants to keep it. If flexibility with the car exists, i.e. it can be sold and a more modest replacement obtained, then a lot will depend on the level of your debt, and whether it is over or under £20,000. More info would be useful. Re...
by size5
Tue Feb 13, 2018 6:19 pm
Forum: Ask IVA Forum and Industry experts
Topic: IVA Offer declined...
Replies: 12
Views: 3224
You will never get a single premium IVA accepted when you have a surplus income as well, creditors will want both. If the lumps um is from a 3rd party, you can withdraw that and offer a monthly payment instead, but then you will be subject to annual review, and creditors will want what is fair as a ...
by size5
Fri Oct 27, 2017 9:05 am
Forum: Ask IVA Forum and Industry experts
Topic: Can I apply for an IVA after being declared bankrupt ?
Replies: 3
Views: 344
If you are thinking about an IVA, it would be preferable to apply for one before the Bankruptcy.Can you shed any more light on the situation?

Regards.
by size5
Fri Oct 20, 2017 8:22 am
Forum: Ask IVA Forum and Industry experts
Topic: I am a professional golfer. How will bankruptcy affect me ?
Replies: 3
Views: 349
I have dealt with professional golfers before, and, if memory serves, going Bankrupt is a no-no. However, the world turns and it is definitely worth checking with any professional body. The difficulty you may face, in reality, is that all forms of credit are effectively barred in BR, meaning that yo...
by size5
Fri Oct 20, 2017 8:15 am
Forum: Ask IVA Forum and Industry experts
Topic: Is an IVA an option for self employed individuals ?
Replies: 3
Views: 429
You will need a UTR, and either a full set of accounts or a self assessment. If this is not possible, for example if you have not yet been trading for a year or more, you will need to prove your income via other means, projection based on what has happened so far, or interim accounts. An IVA sounds ...
by size5
Wed Oct 18, 2017 11:29 am
Forum: Ask IVA Forum and Industry experts
Topic: iVA after entering bankruptcy
Replies: 12
Views: 497
I have dealt with probably in excess of a couple of hundred cases of this nature over the last 20 years, and, as Michael is fond of saying, the devil is in the detail. You will not be able to annul the BR if the 12 months has elapsed and you have been discharged, but reading your posts, that seems u...
by size5
Wed Oct 11, 2017 11:36 am
Forum: bonus, overtime, pay rises and windfalls
Topic: Salary Refund
Replies: 5
Views: 44656
Depends on how the payment was calculated. If the erroneous figure was used, then technically it could belong to the IVA. If the right figure was used at the start, and you have suffered through no fault of your own with lower wages, then the money is absolutely yours. The extra £20 will be dealt wi...
by size5
Tue Oct 10, 2017 11:45 am
Forum: Ask IVA Forum and Industry experts
Topic: Delayed Inherited money going into cancelled IVA! Can i challenge this?
Replies: 5
Views: 487
I wonder what made you cancel the IVA? The deal is agreed at the start, all parties are aware, so I can see little point in cancelling because of the fees. I do hope that you were not mis-informed, either by other, less reliable and more ignorant, forums, or a debt settlement or debt management comp...
by size5
Wed Oct 04, 2017 11:49 am
Forum: Ask IVA Forum and Industry experts
Topic: We have been struggling financially for a while now
Replies: 8
Views: 471
There are so many different variants to take into account here that it is impossible to give you any clear guidance at this point. Is there equity in either of the properties, does the rent on the buy to let cover the mortgage payments, who are your creditors etc etc? I am not averse to you speaking...
Search found 3080 matches Page 1 of 206