www.iva.co.uk

Hi All.
Could I please have some help. My partner and I have just failed our IVA after 18month. We were pretty much told by DFD what our expenditure should be and we agreed to get the IVA accepted. We struggled with payments and as a result we failed. We are now in a slightly better finality situation and believe we could now make an Iva work. Could someone please point us toward a good iva company who we can both trust and rely on?
Many thanks!

There are guidelines that we firms have to follow but there are also expenses which exceed the guidelines and need explained. The main thing is affordability and the first thing to do is an income and expenditure account to see what you would be expected to pay in an IVA this time around.

I have the CCCS/Stepchange guidelines which I will send to you if you want.

Thanks Michael. I have done a new income and expenditure online with step change. This was a huge help as there were things on there we did not claim for when doing it with DFD!

The most important thing about an IVA is the affordability. How you spend your allowances is up to you and only you know how much you can actually afford. There are other things not necessarily on the guidelines which are allowable so it is worth checking around and comparing notes.

I hope the IVA works out better this time.

Hi

Five or six years on a budget is very tough so any agreed payment must be affordable

Regards