DO you think our IVA has any chance of sucess

[heidi]

My Husband and I have unsecured debts of just over 64K, we are struggling to make payments every month and only manage by borrowing more.We are currently working with DFD to put together a proposal, but it works out at only 23p to £.
We do own our own home, but there is only at max. £3K equity in it.
Also, in the last month we have gambled approx £900 (desperation setting in!!!). Will this be looked on very badly??? Also, my husband is a senior site manger for a building company and has to manage a budget and control the sites spending, so would probably have to take another job if made redundant.
DO you think our IVA has any chance of sucess on these figures??

[sonyse2t5]

I have heard of 17p to the pound for IVA settlements incl gambling debts. Don't be too concern about that part of the debt.It will have little or no bearing.

You have to put the iVA through to see if it will be accepted as creditors are a iunpredicatble bunch.

[bagpuss]

Our F/F IVA was accepted at 22p, so it can happen. .

[MelanieGiles]

They are less certain than arrangements offering higher than 25p, but I got one accepted at 6p a few years ago, so there is always hope!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[iva experts]

Welcome to the Forum Heidi,

In regards to your gambling I think the most important thing the creditors and I.P will want to know is that this activity has ceased. If you did this to try and repay some of the money owed then this should be clear in your proposal.

When it comes to gambling what should be clear is that you have stopped and that this is not an addiction for yourself.

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

[Adam Davies]

Hi
The equity release in the fourth year will more than likely increase the dividend above the 23p so you are in with a good chance.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp