We are in the process of proposing an IVA with a return to creditors of 58p/£. We have no equity in our house, so are offering an additional 12 months payments. If the creditors reject our proposal we will file for bankruptcy. This would mean the OR taking both cars (valued at 9,000 each) The up side is that we would pay into the IPO for 3 years not six, and from reading various posts here and elsewhere, are likely to make lower contributions than in an IVA. Has anyone got any thoughts? Thanks LD
Advice
Posted - 07 July 2007 : 18:36:21
