www.iva.co.uk

hi guys
im really new to this, im 24and am in the early stages of trying for an iva, i have just done the assesment stage and am waiting for my draft to come in the post! im scared to death that it wont be accepted i owe around £22,000 to different people, has anyone out there had experience with the debtors below im unsure how they react to ivas?
hsbc i owe - £3500
lloyds tsb loan - £8100
Lloyds tsb creditcard - £1000
lloyds overdraft - £700
egg- £400
barclaycard - £400
MBNA / Virgin - £2900
next - £900
cahoot - £3500
can anyone give me some advice im finding it hard to cope
thanks
kiki

Hiya kiki and welcome, sorry I can't say that your Iva will definately be accepted.
The best thing to do is have faith in your ip, they don't put proposals forward if they think they are going to be refused.
Good luck and keep us posted

thanks for the reply im trying really hard to keep positive this has just been an awful 18months and got in debt way over my head, thanks again for your kind words
kiki

Hi Kiki and welcome to the forum. As Chris says have faith in your IP - they don't put IVA's forward if they haven't got a very good chance of being accepted.

Good luck and please keep posting - there is always someone here to offer advice, or just to chat to x

Is the £220,000 you owe a mistype,and should it read 22000. Coz if its 220k wow!!!

How much will you be paying into the IVA and do you own any property? Have you considered a Debt management plan rather than an IVA??

Questions galore,oh and welcome to the forum.

oops yup its £22,000 bad enough though! the IP im using hasnt mentioned a monthly figure yet i could afford up to about £280-£300 just concerned as i have heard its quite tough to get an IVA accepted, i have looked into it alot and its really my only option either that or bankruptcy


kiki

oh sorry and no i live with my family !
thanks
kiki

Bankruptcy may not be that bad an option,if you have no assets(house or ferrari etc).

How did you choose your IP??

I wouldnt worry too much Kiki....I think I saw a thread the other day that said 70% were accepted!

i think you will be fine its the waiting that stresses you out i had 12 creditors one was £42,000 they didint even vote and still havent made a claim after over 2 years northern rock!!.if you are saying you are ok with £250 to £300 i would think they are getting a decient dividend on 22k

good luck my fingers are crossed for you[:)]

thanks everyone for your nice words it makes me feel better to think i am not alone, i just want to know if i will be able to get help now like you say its the waiting that drives you mad

kiki x