www.iva.co.uk

It seems that Debtors are being burnt on IVAs because the creditors insist that the BBA figures are used for living allowances.

How are these figures being derived? Do the creditors think that Debtors live in mud huts using flints to ignite fires to keep warm at night?

What rights of appeal could be used to get these allowances raised during the IVA acceptance stage?





My sig.

Eat the debt. My raison d'etre is to put TIX 'the isolvency exchange' out of business by informing anyone who will listen to take a bankruptcy over an unrealistic IVA proposal.

I think its done on an individual basis loads of bills. We have to pay for our mistakes.

They could bring back debtors prisons.

I dont sleep well either

LILY

I can imagine that scenario quite clearly.

Abit of Oliver Twist at a variance meeting.

"Please Sir, may I have some more..."

"No you swine!!!"

My sig.

Eat the debt. My raison d'etre is to put TIX 'the isolvency exchange' out of business by informing anyone who will listen to take a bankruptcy over an unrealistic IVA proposal.

I think that puts it rather well! I am a great believer in you guys paying as much as you can comfortably afford, but IVA's were never meant to be drachonian and that is the way the industry is taking them.

Mark my words IVA failures during the first year will show a stiff incline over the next 12 months. Watch this space.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk