Chances of approval?
Just wondering what my chances of approvals are? Im the the process of an IVA with FSS - Financial Support Systems and my creditors meeting is scheduled for 21/12/2020 at 10:30. With it being so close to Christmas, I think I’d sleep better knowing what my chances are if anyone can give me their opinions?
Total debt is c£50k and my creditors are -
Sainsbury’s Bank loan (majority in terms of value at 31%)
Salary Finance Ltd loan (13%)
MBNA CC (14%)
Virgin Money CC
Lloyds Bank CC + OD
NatWest Bank OD
Secure Trust Bank loan
Home Retail Group CC
Next Directory credit
Klarna Bank loan
My biggest concern is a rejection from Sainsbury’s, Salary Finance and/or MBNA as they hold such a large amount in value. Do they have a particular history of accepting/rejecting?
My dividend for the IVA is only 14.69p/£ with bankruptcy showing 3.49p/£ with £0.00 for creditors after all fees etc.
Things that may go against me - my partner and I bought a house 2 months ago. However, the entire deposit was gifted and his can be shown on our bank statements. The mortgage is actually £150 a month cheaper than our previous rent.
Also, any feedback or personal reviews of FSS would be amazing!
Many thanks in advance