Questions about Individual Voluntary Arrangements and Insolvency.

Moderators: TalbotWoods, JaneClack

By blackczerny
#139778 OK, I'm with W3 who so far have been fine.

We're proposing 28p/p, on a debt of 26k. In my original DMP with PayPlan, it would've taken 12 years to pay back and some of the creds weren't freezing interest.

I've got Capquest on behalf of Egg
Co-operative

(these 2 hold the main chunk of the debts...)

Capital One
HFC
Accucard


Anyone fancy a bet?
By mellowman
#139841 I'd give you pretty good odds, the level of your debt isn't that high (according to your creditors) But because you have tried other solutions first (dmp) then it should be ok.

Of course it depends on why you are offering 26p in the £, if you have a £350 hp payment or loads of equity that your not putting forward then I'd say no, bottom line, if this represents your best offer to creditors then it should be ok.
By blackczerny
#139873 No equity, no nuffink! I'm selling stuff on eBay too, so I can throw half of the proceeds their way too. I'm totally amenable to yearly reviews and upping my payments when I'm able to. And it's way more tenable for me to sustain an IVA than a shaky DMP 'til the next Ice Age.

Fingers crossed, eh?

Ta
By £76K
#139941
blackczerny wrote:No equity, no nuffink! I'm selling stuff on eBay too, so I can throw half of the proceeds their way too. I'm totally amenable to yearly reviews and upping my payments when I'm able to. And it's way more tenable for me to sustain an IVA than a shaky DMP 'til the next Ice Age.

Fingers crossed, eh?

Ta


If you go for an IVA & get accepted & are selling your own goods on ebay you do not need to hand that over even if you make a profit.