www.iva.co.uk

JUST STARTING ON THE ROAD TO BEING DEBT FREE{HOPEFULLY}, BEEN ADVISED TO GO FOR AN IVA WITH MCCAMBRIDGE DUFFY, GOT £75000 UNSECURED DEBT, CRIPPLING REPAYMENTS,AND UNTIL I CAME ACROSS THIS SITE, NO LIGHT AT THE END OF THE TUNNEL, BUT SO FAR THEY HAVE BEEN BRILLIANT, NON JUDGEMENTAL, AND UNDERSTANDING,. HOW LONG DOES IT TAKE TO GET AN IVA APPROVED? ANY HELP WOULD BE MUCH APPRECIATED.[?]

Hi
We are with clearstart and my first telephone call to them was on the 5th Nov 07 and our IVA was approved on the 27th December 07, so I would say 5-6 weeks. Its a very quick process
Hope that helps
carol
x

HI Spencer,

An IVA would normally take 6 - 8 weeks (as norm) you can expect 1 - 2 weeks to gather the relevant infomration, 1 week to prepare the documents and go be signed and approved by an IP and sent to you for your approval and signature and then you can expect 3 - 4 weeks notice to creditors of your proposal.

Like is say this in the norm but no two cases are the same and timescales can differ depending on how complicated your case is

Creditors will probably be notified of your IVA early on so they should be aware of what is happening.

Different firms have different practices and therefore different timescales. What does the IP of your choice say with regard to recommended timescale? In my practice it can take one day to one year depending upon circumstances, but the norm is generally no longer than 6 weeks if there are no complications.

Hi spencer and welcome to the forum

Other have advised about the timescale of the iva process.

I just wanted to add that you should take the time to make sure all your figures and income & expenditure are accurate and you are happy with the whole thing and have no outstanding concerns or unanswered questions.

I know you just want to get it sorted out, but it needs to be right from the start as you need to be able to live with this for 60 months.
Take the time to get it right from the start[:)]