www.iva.co.uk

Hi we are in he process of starting an iva, what we are worried about is if this is refused what options do we have. We have a decent amount of equity in our home so can we be made to go bankrupt.

Hi and welcome.

Your fears are natural - we've all been there. Your IP wouldn't put you forward for an IVA if they didn't think it stood a chance of being accepted.

In the event that it wasn't you can do a Debt Management Plan, at least in the short term, then try again for another IVA further down the line.

Unless one of your creditors wanted it, you are unlikely to be forced into bankruptcy.

Around 95% of IVAs are accepted these days pollyann, and some firms (including my own) work to a much higher level. Which firm have you chosen to represent you?

thanks for your replies, we have chosen your company Melanie after doing a bit of research on here, it gave us the confidence to finally start the iva process,has taken us a while to take this step but glad we did. Its just different questions pop up all the time and i know there are people on here who can help answer some of these.

That is great news. We get around 99% of our cases accepted at creditors meetings - so it is rare to have a case rejected. I very much look forward to working with you over the next few years.

Hi Pollyann. You have made an excellent choice of company and I am confident that Melanie and her team will do all they can to make a solution work for you.

thanks everyone looking forward to finally sorting ourselves out, actually feels good

You couldn't have chosen better for an IP, a very high percentage of acceptances. x