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by Michael Peoples
Wed Feb 21, 2018 12:17 pm
Forum: Ask IVA Forum and Industry experts
Topic: I.V.A full and final and a whole lot of other stress
Replies: 6
Views: 3073

My apologies Nigg01 for only replying now and many thanks to Foggy for highlighting the post to me. I have spoken to supervision and by all means give us another call. There may be crossed wires somewhere but if there is a full and final settlement on offer then we can suspend the payments until the...
by Michael Peoples
Thu Jan 11, 2018 1:59 pm
Forum: Ask IVA Forum and Industry experts
Topic: Petition now Live -- please sign
Replies: 8
Views: 8693

Hi Foggy and all. I have been very quiet for a bit due to a heavy workload but I totally support the petition and have signed it. I will try and get back posting soon but I do not like dipping in and out providing half answers and no follow ups.
by Michael Peoples
Tue Oct 24, 2017 8:47 am
Forum: Ask IVA Forum and Industry experts
Topic: Changes in my circumstances have been ignored
Replies: 36
Views: 1156

You can request a reduction or if you cannot maintain any payments creditors may accept what has been paid to date as full and final settlement. Go back to CF and do a new I&E which can be used for any variation.
by Michael Peoples
Tue Oct 24, 2017 8:44 am
Forum: Ask IVA Forum and Industry experts
Topic: Final payment
Replies: 4
Views: 399

You can normally provide the information for the review yourself or your IP may use an agent to determine how much equity is available and whether or not it can be raised. Most people cannot raise equity and the bulk of IVAs are extended but things change and there may be more [or less] products ava...
by Michael Peoples
Tue Oct 24, 2017 8:40 am
Forum: Ask IVA Forum and Industry experts
Topic: I have received a demand for council tax and threatened with a summons
Replies: 4
Views: 465

Your IP is correct and not the council. This will likely go away very soon.
by Michael Peoples
Mon Oct 23, 2017 3:43 pm
Forum: Ask IVA Forum and Industry experts
Topic: Can absolutely anyone make a F&F offer ?
Replies: 9
Views: 924

It does seem that there are lenders out there who will provide remortgage facilities to those in IVAs. I do not know the rates but if you qualify for a remortgage a loan may be cheaper as you may not want to extend the term or switch the entire balance to sub prime rates.
by Michael Peoples
Mon Oct 23, 2017 8:20 am
Forum: Ask IVA Forum and Industry experts
Topic: Applying for an IVA from abroad.
Replies: 4
Views: 423

It is your proposal and if the figures are lower than the recommended guideline figures then an explanation is all that is required. We have people in IVAs living all over the world and their I&Es reflect the local costs and not UK ones. For example £50 per month is the maximum in the UK for medical...
by Michael Peoples
Mon Oct 23, 2017 8:12 am
Forum: Ask IVA Forum and Industry experts
Topic: Does not signing my chairmans report mean that my IVA has been cancelled ?
Replies: 4
Views: 498

You clearly have more than one address but your IP was only aware of one. If you have been living elsewhere for months then you should have informed your IP and this would not have happened. It does sound like your IVA has been cancelled as without your agreement to the conditions it would never hav...
by Michael Peoples
Mon Oct 23, 2017 8:09 am
Forum: Ask IVA Forum and Industry experts
Topic: Payments to creditors
Replies: 14
Views: 694

Making token payments will not improve your chances of success and creditors usually put things on hold for a month once they are made aware of the IVA. However if for example you are paying a bailiff to keep them at bay it would be worth making the required payment on this debt for peace of mind.
by Michael Peoples
Mon Oct 23, 2017 8:06 am
Forum: Ask IVA Forum and Industry experts
Topic: Can absolutely anyone make a F&F offer ?
Replies: 9
Views: 924

You could look at raising some equity on the property which would hopefully satisfy creditors. Once the IVA is over you could then sell the property and do what you like so maybe contact Shaun Vickery from Select who posts here as he has access to these type of products.
by Michael Peoples
Fri Oct 20, 2017 9:28 am
Forum: Ask IVA Forum and Industry experts
Topic: Is an IVA an option for self employed individuals ?
Replies: 3
Views: 625

You should also check the articles of association for any companies you are involved in as they may need amending. This is quite straightforward but very important so make sure your IP explains this top you.
by Michael Peoples
Fri Oct 20, 2017 9:25 am
Forum: Ask IVA Forum and Industry experts
Topic: Will I have to declare my partners increased income on my second review ?
Replies: 3
Views: 490

Your IP could assume a 50/50 split which could lead to an increase if his wages were very low at the beginning. It really depends on whether he is paying his fair share of the bills.
by Michael Peoples
Fri Oct 20, 2017 9:23 am
Forum: Ask IVA Forum and Industry experts
Topic: I am a professional golfer. How will bankruptcy affect me ?
Replies: 3
Views: 513

I also have acted for many golfers in the past and believe that bankruptcy leads to loss of PGA status. As Size 5 says check with your professional body as this could be very serious. People often wonder how golfers can get into financial trouble but they are not all wealthy and many scrape by.
by Michael Peoples
Thu Oct 19, 2017 8:35 am
Forum: Ask IVA Forum and Industry experts
Topic: Debt Free Direct closure delays
Replies: 10
Views: 757

I would assume that this means the IVA has completed and the insolvency service informed. The final paperwork will only be for finance reasons to ensure all dividends have been paid correctly which has no bearing on you. Drop Aperture an email for confirmation but I can only think your IVA is over.
by Michael Peoples
Thu Oct 19, 2017 8:23 am
Forum: Ask IVA Forum and Industry experts
Topic: I may have to enter an IVA.
Replies: 4
Views: 392

In addition to what Foggy says it could be pointless and expensive to put your partner on the mortgage. This is giving away an asset which could be challenged in bankruptcy but must also be disclosed in an IVA.
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