Creditors

[juliehawkins66]

Can I still apply for an IVA even if my credit card companies have passed on my debt to credit agencies. I have also been to court from one debt creditor on behalf of MBNA so I now have a CCJ.

Can anyone on here also help what worries me the most is if my IVA is turned down then won't my creditors think that I won't be able to pay and make me go bankrupt(this is what scares me the most)

[Andrew Graveson]

Hi Julie,
The passing of debts to debt collectors in no way prevents you from seeking to enter an IVA.

Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[iva experts]

Hi there,

You are still able to apply for an IVA eventhough your debts have been passed on and you have a CCJ. Once your IVA is accepted your CCJ will then be overwritten by the IVA.

If your IVA gets rejected by your creditors then you are unfortunately back to square one in regards to your debt options, and you could apply to go bankrupt yourself or look into a DMP.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[MelanieGiles]

Absolutely - the fact that the debts are with debt collection agencies makes no difference to your application, neither does a CCJ.

If you do propose an IVA, in the unlikely event that it is rejected (bearing in mind that 80% of all IVAs are actually accepted - and a lot of firms work on a much higher success rate) then you still have the option of a debt management programme.

Do bear in mind that your creditors would rather see you pay something back than nothing at all under bankruptcy proceedings.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp