www.iva.co.uk

Hi, my name is christopher. I am in an IVA with Debt Free Direct. As my disposable income was below £200 per month,I agreed to offer my house for sale at £75000, leaving £20000 for the creditors. This has made the house difficult to sell. I have noticed people on this site paying 29p in the £. This would have meant I would have been able to put the house for sale at £65000 an achieved a sale, therefor been able to pay my IVA. Have I been misold my IVA.My IVA company are not responding to my concerns. My IVA states that the house is to be sold in 6 months, the 6 months is up. Now they are saying that an auction will give them a lower return.

regards christopher

Hi
You will need to post back some more details e.g Unsecured debt level, number of creditors. Are you single,married.Presumably your new rent will be lower than your mortgage payment was?

Hi Christopher,

In an IVA you will need to pay back to your creditors as much as you can, so if £20,000 is the best offer you can put forward then that is what you will have to pay.

An IVA is as its names states "Individual" this means that some people will pay 25p/£ and others could end up paying 100p/£, its all based on the persons circumstances.

Could you provide your amount of debt? who your creditors are ?

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/