welcome finance

[markss]

do you know any good iva firms or ip's?

[markss]

thank you J-Duobley and size 5 and Andy for your help much appreciated. this company have asked for no money upfront its on a no win no fee

[J-DOUBLEYA]

well, you be careful, I think Andy knows what I was thinking, and Yes I agree, you just might find that now you are on the hook, the divi will be increased. Just make sure that
you read everything properly and ask questions. 17p /£ is low but compared to Bankruptcy a better option. trouble is Creds want DMPs becuase they get more money back than in VA or Brptcy.
Be wary and careful. as for other IP's , look around the posts on this site.

[markss]

but DMP'S take longer to settle surely creds want a shorter period?

[J-DOUBLEYA]

Strangely enough they want all of their money back , and yesterday. The repayment period you quote is based on your current circumstances, perhaps they will improve ?

In your position, assuming that you have no assets you can decide whats best for you and frankly there is not an awful lot the creditors can do about it. Yes a DMP will take forever and the case for an IVA is made by comparing the return in Bankruptcy. Getting a 17p/£ IVA is not unheard of but in these trying times, rare indeed.

[markss]

yes especially as 1 creditor is northern rock

[Adam Davies]

Hi
Banks prefer DMPs because they do not have to write the whole debt off their bottom line.
Once you enter an IVA or Bankruptcy the whole of the debt comes off the banks books........not good for their figures
Regards

[markss]

is it possible to ask creditors to hold on calls / letters and refer them to my iva company?

[markss]

is 25p in the £ more realistic for an iva?

[J-DOUBLEYA]

i think 25p / £ is more likely to be acceptable than the 17p/£. Just make sure that it is affordable !