www.iva.co.uk

Then likely as not it wouldn't be a problem, unless for example you own the copyright to your work, in which case it will be.

I suspect you will have a black and white decision to make.

Ian

Thanks for your thoughts Ian, much appreicated. I don't own the copyright to my work so I guess as you say it would not be a problem.

I'll know by the end of the day what my exact options are and then i'll have to decide in the morning.

It might be difficult to imagine being bound by an IVA for as long as 7 or 8 years, but at the end of the day that is the period that you tok the loan out over so it will be difficult to argue the merits of that one with Northern Rock.

Northern Rocks final offer is 625 for 72 months excluding my dads debt.

That basically means i'll pay back 45000 and then still have to pay my dad 18000 at the end of the 6 years.

I owe 63 thousand in total so I don't feel I can agree to the terms as in total i'll have to pay back almost everything I owe over 6-9 years.

I'm going in this afternoon to talk to my IP about bankruptcy

Ah, so that's how they have done the maths!

No pun intended, but you seem to be between a rock and a hard place and if your dad has to wait until the insolvency process is over I can understand you viewing 3 years as being only half as bad as 6.

Good luck with it. I'm not sure what else can be done here, if they won't budge.

Ian

Hi

Did MNBA ask you if they could do your IVA i had the same problem and all they were after was for them to do my IVA.

Regards.

Neil

MBNA cannot "do" IVAs - only Licensed Insolvency Practitioners have that privilege!