Hi All, Last wednesday my IVA proposal was accepted. It was a little strange since only 10% (by value) of my creditors voted but that was enough! Only amex put forward some unacceptable modifications (7 years and reducing pension payments) but since they were in a significant minority we politely de...

Hi, another option is to 'downgrade'. Just find a good dealer with a suitable car at approx £1000 lower price than your car's trade in value (you can get a good idea from teh vauxhall website for a trade in value)and trade in. Obviously call them beofre hand and explain there is £1000 remaining on f...

Hi Christine, I don't know the definitive answer but I doubt any government body would calculate that you had ANY disposable income from state benefits alone - and I'm sure if needs be you could offset all of your 'income' against very reasonable expenses. If you BR for example you would not pay int...

Hi Jason, I think Michael was specifically referring to SAYE schemes whereas its just as common to simply be 'awarded' share options as an incentive (and this will only potnetially cost the company). IF they are share options then they are essentially worthless until you buy and sell. If you did thi...

Hi Mel, you mention that some creditors have specific criteria, i'm guessing maybe minimum dividend type criterion (?). In your firm would you expect any issues with specific criterion to be picked up early on (consultation/admin) or would they only really be identified when the proposals team analy...

thanks for your reply Michael, your view sounds sensible and fair as always

Hi Michael, she would not be part of the IVA. So I guess the big question is what that 'something' might be. SInce any earned income wouldn't come anywhere near 50% of the household expenses, would it be expected that all of her income goes towards the household thereby reducing my obligations and i...

HI, this is an interesting thread. I'm going through the process now, my partner currently doesn't work and we have children. However, she may well find some part time work in the future. So I guess that any income she would earn after any expenses i.e. childcare, would get completely eaten up by th...

COngratulations doomandgloom,

I read a lot about minor modifications, could you share the details or even the gist of the modofcations?

Hi Mel,

you've only got your great repretation and wise words on this forum to blame [;)]

Thanks to your team for agreeing to help me and my family

also - when talking about a rate of return, are they generally referring the actual return after fees or is it based on the contributions?

thanks for all your replies, they've been really helpful. Stewpots - was your initial offer based on expenses within the current guidlines? Did you simply have to trim these down as they wanted more? Of course, I will ultimately trust the judgement of my IP team but its good to hear of others simila...

thanks Jan, i really hope to activate my counter..either way i will post and try to let others out there know what to expect if the worse does happen - i'm guessing the number of resigters users is eclipsed by those just viewing I would aslo like to thank Vincent Bond (and any other unamed contribut...

it has been these kind of posts that prompted me to apply to mel's team [:)] aswell as mel's clear knowledge ans common sense approach of course![:D]

I look forward to contributing to the forum with my experiences and hope they will all end with a smiley emoticon [;)]

thank you for your kind welcome

I am with Mel's team and will ask these questions once the proposal is finalised. I was just trying to gather others experience at this stage - although a viable proposal i would imagine the lower the offer the increased chance of rejection

thanks