Awaiting creditors meeting

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peter88
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by peter88 » Sat Apr 29, 2017 8:55 pm
Hi did any of U know anything about Vanguard Practitioners formearly know as Kingsgate?I have IVA proposal with them ,are they ok to deal with?
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kallis3
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by kallis3 » Sun Apr 30, 2017 8:04 am
HI,

Sorry we missed your post! I have no idea what they are like - hopefully another poster who has dealt with them will answer your query.
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Foggy
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by Foggy » Sun Apr 30, 2017 8:38 am
Hopefully an Industry Expert will come along in the week with more knowledge of Vanguard.

However, having looked at their website, I am concerned that they appear to use the newly emerging, creditor centric, method of calculating equity, which, for me, would be a reason to look elsewhere, unless they could convince me otherwise.
peter88
Posts: 21
by peter88 » Sun Apr 30, 2017 9:30 am
Hi,thanks for replying. I'm not a home owner so there won't be any equity.Just wanted to know if anyone have deal with them.I'm over 30000k in debt and they want me to pay a 179£ a month for the 5 years,do U think it's a fair amount?
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kallis3
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by kallis3 » Sun Apr 30, 2017 9:37 am
Hi,

It all depends on your disposable income. Make sure you claim for all allowances.
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Foggy
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by Foggy » Sun Apr 30, 2017 9:46 am
The amount you pay is not based on "fairness" ... it is literally all of your disposable income, so what you are deemed to be able to afford. Some on the same level of debt, might be paying £100, others might be paying £500. If the IP considers it is worth a shot, then it is worth a shot.

Don't forget that, if your income increases, so, too, will the payment amount, as well as handing over a share of overtime etc.

Best of luck with it.
peter88
Posts: 21
by peter88 » Sun Apr 30, 2017 9:50 am
Thanks for advice.
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Michael Peoples
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by Michael Peoples » Tue May 02, 2017 8:14 am
Vanguard are a reputable firm and most companies use similar guidelines for expenses. You could get a second opinion elsewhere or stay where you are at.
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