www.iva.co.uk

Hello All,

i have just joined but feel like an oldtimer from the amount of time I have reading this forum. I've just started on the path and are collecting together my documentation. I would like to thank all those who take the time to post as it has provided me with invaluable advice and helped me choose my IP.

As with most people I am keen to have the IVA set up now i've decided upon this path and have a few questions which I don't expect exact answers but would be good to know others experience.

I am proposing approx return of 20 p/pound which obviously seems viable to my IP firm. Has anyone any experience with this level of offering i.e. can i expect the creditors to negotiate this up/extend to 6 years etc..

Has anyone any exprience of particular creiditors haveing an acceptable lower limit/conditions? i realise these are subk=ject to change but forewarned is forearmed!

my main creditors are EGG, Cahoot, MBNA and BArclaycard

I should also say that since i've phoned to tell egg, cahoot and barclaycard i found the staff i talked to very amicable and professional and I seem don't receive many calls.

anyways any thoughts on the above would be gratefully appreciated

yours

impatient one!

Hi badger and welcome to posting on the forum. If your IP has got the best offer on the table then I'm sure you'll have no problems. Do you want to share with us who is acting for you?

I've learnt the art of patience whilst being in an IVA but can totally remember how you feel. I'm glad the forum has helped you in the past and hope it continues to do so in the future and that you'll keep posting as your posts will help others.

I didn't share any of your creditors apart from Barclaycard and I'm glad to hear your creditors are acting in a professional manner and not harassing you too much.

Hi badger and welcome to the forum.

Sounds as though you are well on the way and your dividend sounds fine - your IP would not be suggesting it if they thought there would be a problem.

I think you will be ok with those creditors and we do have a representative from Barclaycard who posts on here which has to be good.

Which company are you using?

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

You have picked an excellent team and she does not do the 'F' word! You will be fine!

Welcome from me as well Badger. You're in safe hands with Mel and her team and I'm sure you'll be fine x

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 [;)]

Please do badger, we welcome your input, and the smileys![:D][:D]

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 contributors) for helping to support this invaluable outlet.

Hi and congrats on your first thread!!! You have chosen a good IP and am sure you have nothing to worry about. x

hi badger
im lucky to be with mels team as well
its great to have your input on here as well

Hi badger,
You`ve chosen well, you couldn`t be better represented.
If Melanie didn`t feel your proposed dividend was viable, she wouldn`t go ahead with it.
Worry not, you`re in the safest of hands.

Hi Badger
You will be fine and I am sure you won't have any problems getting your IVA accepted.
Whilst not with Mel's team (we went with sister company of our DMP firm) she gave us valuable advice, comments and answers to questions we posted on here.
Good Luck x

I'm also a client of Mel's team and can only speak highly of every ounce of service received. I'm confident you'll be fine. x

badger wrote:

Hello All,



As with most people I am keen to have the IVA set up now i've decided upon this path and have a few questions which I don't expect exact answers but would be good to know others experience.

I am proposing approx return of 20 p/pound which obviously seems viable to my IP firm. Has anyone any experience with this level of offering i.e. can i expect the creditors to negotiate this up/extend to 6 years etc..

Has anyone any exprience of particular creiditors haveing an acceptable lower limit/conditions? i realise these are subk=ject to change but forewarned is forearmed!

my main creditors are EGG, Cahoot, MBNA and BArclaycard

I should also say that since i've phoned to tell egg, cahoot and barclaycard i found the staff i talked to very amicable and professional and I seem don't receive many calls.

anyways any thoughts on the above would be gratefully appreciated

yours

impatient one!

Egg,MBNA and Barclays were 'some' of mine but I'm cira 27p in pound.

I initially suggested around 18p but was told that was a non starter.

I guess its down to what you/IP think is reasonable/ what you can afford.

If you feel the figure is too high BR would be another route.

However I get the impression the IP won't put you forward unless there is a resonable chance.

MBNA were much 'nicer' when they knew I was going into an IVA and even offered cira £8k to clear the 27k debt on that card. For 6 months before they wouldn't shift on 22% APR