IVA
leaves Ms A and her creditors very happy
Continued...
Clarke
Bell reviewed her situation and we were
able to recommend her the best course
of action for her particular situation.
We advised her to sell her car and replace
it with a cheaper car. With no income
(apart from benefits) and no other assets,
we suggested that it was in her best
interests to enter into an IVA.
Ms
A’s assets amounted to £8,725.
The cost of her IVA was £2,810
(compared to £6,965 in bankruptcy
costs).
Her creditors were very satisfied with
a dividend of 31p for every £1
they were owed (as they would have only
received 9p/£ had Ms A had gone
bankrupt).
As
a result, by September of the same year,
Ms A had cleared her debts and her creditors
were satisfied with the payment they
had received. This meant Ms A was able
to move on with her life and leave her
financial worries behind her.
~~~~~~~~~~~~~~~~~~~~~~~~~~
If
you are unsure as to whether an IVA
is the best way to solve your debt problems,
then why not get a second opinion. Fill
in our Enquiry Form,
we will assess your situation and recommend
the best course of action for you to
become debt free.
