Author Topic: Which IVA Co.?  (Read 1299 times)

StephB

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Which IVA Co.?
« on: Jan 08, 2013, 11:22:08 AM »
Can anyone recommend an IVA company to use?  I know I can contact National Debtline, Payplan and CCCS but which one would I be best using?
 
Also, as a home owner, how does the IP work out how much equity is in home or is up to me to have a valuation done?  Though in its current state I doubt there's more than £10k.  And how is the equity released - does the mortgage company have to agree to it and wouldn't the mortgage fee's go up?
 
Lastly, if the IVA is rejected are the IP fee's added to outstanding debt or are the fees/set-up costs only charged if the IVA is approved?
 
Oh, and I read that if the IVA is rejected the creditors can force you into bankruptcy, is this true?
 
Sorry for all the questions again, but I think an IVA would be a good option now as circumstances have changed, but I'm incredibly nervous about it all!

Re: Which IVA Co.?
« Reply #1 on: Jan 10, 2013, 05:29:41 PM »
Hi Steph

As you might or might not know there are various options available in dealing with your debts these days including debt settlement. It will basicially have the same impact on your credit file as an IVA but you will be out of debt for a lot less. You could be out of debt for as low as 50% of the outstanding balances.

Best Regards
Mark Le Roux
Tempest Financial