www.iva.co.uk

Hi just wondering can anyone explain how these work? Are there two different proposals and do creditors vote on each separately? Also, are there two different sets of fees and are these normally double what a single one is? Thanks

An interlocking IVA will make just one payment for both.

I believe that there are two proposals but not sure about this.

One of the experts will be along to help.

These are things I should have asked Tina when I spoke with her but had not thought of at the time. Different queries keep popping into my head but I really don't want to keep ringing the Mel's team everytime I think of something new. My mind is racing a million miles to the minute presently.Its a lot of new info to take in!!

Mel's team will not mind you ringing them, they are used to it and would prefer that you asked them directly once you have remembered these things.

The forum is great for general advice, but for case specific you are better off speaking directly to your IP.

We had two propsals but the payment is interlocking, they voted separately on them, I'm with Mel and her team and honest they won't mind how many times you ring/email, they'd rather you fully understood the process than go into it without understanding it fully.

kallis3 wrote:

Mel's team will not mind you ringing them, they are used to it and would prefer that you asked them directly once you have remembered these things.

The forum is great for general advice, but for case specific you are better off speaking directly to your IP.

I do understand about the case specific stuff but was just trying to get a general idea of how the interlocking IVAs work.

Thanks Lesley, so in reality one of the proposals could be accepted and one turned down. I must admit that is a scenario I hadn't thought about before. Thanks for the info.

We have no problem in you calling us as many times as you like.

The IVAs are separate but if they interlock you will pay one contribution and it will be shared equally amongst your creditors. As you are going to be offering a lump sum, it is unlikely that I would present your case as interlocking, but it does depend upon the specific facts of your case - and that is why you should get specific rather than general advice.

Thankyou Melanie and I will be getting in touch soon.x

All the best Nicola,sorry went offline last night (sleeping problems) but Melanie has answered your question. i hope it goes well for you x