Anyone have experience of individual voluntary arrangements?
I am looking in to applying for an individual voluntary arrangement to sort my financial mess out. I set up a company (which has no debt) in 2008 & when I couldn’t borrow money to support the company I used personal credit to get the business going. The business is starting to get some success and I hope to be able to pay myself more than minimum wage next year.

I have approximately £80,000 of personal debt , (car finance, loan, overdraft, credit cards etc). No assets (I rent my flat) and I can’t make the repayments and interest is racking up. I don’t want to apply for bankruptcy as I need to remain a company director – which I can do if I enter an IVA but can’t if I go bust.

My understanding is that an IVA won’t remove all my debt but typically debt is reduced by 60-80%. Apparently 75% of my creditors have to agree to the IVA for it to go through and the benefit to them is that they will get more dosh than they would if I applied for bankruptcy.

Not posting this for sympathy as it was my own decision to get it in to this level of debt but all advice welcome if you’ve been in this situation and/or have experience of an IVA. )Apologies to the Merkins as IVA’s are a UK only thing).
(lkjshaglkasjdhglkhjz lkcvl; g;aodh;owih, Wed 2 Dec 2009, 13:25, 39 replies, latest was 16 years ago)

moneysavingsexpert will be infinatley more useful to you than this place.

(PsychoChomp, Wed 2 Dec 2009, 13:33, Reply)

I disagree
I called someone a cunt on moneysavingexpert and they blocked my account.

Plus it's full of self righteous wankers banging on about how unfair it is that the banks charge them money to borrow money they didn't ask for, how speeding fines are a form of stealth tax, and parking attendants are doing it for the money.
(Bazongaloid, Wed 2 Dec 2009, 13:34, Reply)

^ahaha
tru dat.
( crackhouseceilidhband Fuck off back to Mumsnet, Wed 2 Dec 2009, 13:36, Reply)

You cunt.

( Davros' Granddad a voice of calm reason in a world of spastics., Wed 2 Dec 2009, 13:37, Reply)

this reminds me
while away the weekend before last with Mrs V's family the subject of swearing came up. I was shocked to find that most of them disapproved.

They'd be shocked at how often Mrs V calls me a cunt. :-D
( Vipros. clever got me this far, then tricky got me in, Wed 2 Dec 2009, 13:39, Reply)

After they'd met you?
I doubt it.
(PsychoChomp, Wed 2 Dec 2009, 13:40, Reply)

haha
I meant about the use of the language, not whether it was deserved
( Vipros. clever got me this far, then tricky got me in, Wed 2 Dec 2009, 13:40, Reply)

My mrs hates the word Cunt
I'm basically not allowed to say it at home, if I do I get in trouble. Her family don't swear either, it's quite odd, I do have to watch myself around them.
(Bazongaloid, Wed 2 Dec 2009, 13:47, Reply)

haha!
Al is pussy whipped.
( girlinthehole, Wed 2 Dec 2009, 13:50, Reply)

I swear an awful lot
I manage not to say cunt at work though, which is ok. Everyone swears a lot in an engineer's office.

I do have to watch myself with family though, especially now Mrs V's niece is talking...
( Vipros. clever got me this far, then tricky got me in, Wed 2 Dec 2009, 13:50, Reply)

I swear like a fucking navvy
in case you cunts hadn't fucking noticed.
( Monty Boyce, My cheese game is strong, Wed 2 Dec 2009, 14:05, Reply)

are you the same in real life?
assuming you can actually talk. I'd believe anything after finding out you don't drive.
( Vipros. clever got me this far, then tricky got me in, Wed 2 Dec 2009, 14:15, Reply)

Yes I am. My staff and family are frequently appalled.
I can tell you in complete honesty that I've only ever wished I could drive and had a car about twice in my entire life...
( Monty Boyce, My cheese game is strong, Wed 2 Dec 2009, 16:41, Reply)

Oh fucking bollocky bastard shite.
Two things we have in common you poor cunt. I don't drive either. That's what women are for.
(porkylips looks better as the sun goes down., Wed 2 Dec 2009, 16:51, Reply)

You'll
have to think of something else to call her.
( sandettie light vessel automatic New Twitter - @bollocksreally, Wed 2 Dec 2009, 19:40, Reply)

I had a look
but couldn't tolerate all the wankers
(lkjshaglkasjdhglkhjz lkcvl; g;aodh;owih, Wed 2 Dec 2009, 13:51, Reply)

have a look round this place more closely.

(PsychoChomp, Wed 2 Dec 2009, 13:52, Reply)

At least the wankers amongts here
aren't fucking pious
(lkjshaglkasjdhglkhjz lkcvl; g;aodh;owih, Wed 2 Dec 2009, 13:57, Reply)

There's one just above me ^^^

(Bazongaloid, Wed 2 Dec 2009, 13:57, Reply)

ha ha

(PsychoChomp, Wed 2 Dec 2009, 13:58, Reply)

definitely
a least 3 times a day - you should see the size of my wrists
(lkjshaglkasjdhglkhjz lkcvl; g;aodh;owih, Wed 2 Dec 2009, 13:59, Reply)

Citizen's Advice Bureau
might be able to help.

out of interest what does your company do?
( Naked Ape call me Caitlyn, Wed 2 Dec 2009, 13:37, Reply)

borrows more money than it makes

(Bazongaloid, Wed 2 Dec 2009, 13:38, Reply)

Maybe he is Alistair Darling

( Naked Ape call me Caitlyn, Wed 2 Dec 2009, 13:44, Reply)

he's not alistair
and al doesn't like being called darling, believe me
( Vipros. clever got me this far, then tricky got me in, Wed 2 Dec 2009, 13:45, Reply)

Not by you
only by your mum
(Bazongaloid, Wed 2 Dec 2009, 13:46, Reply)

Sorry darling

( Naked Ape call me Caitlyn, Wed 2 Dec 2009, 13:47, Reply)

The company is ok
it's me personally thats the cunt.
(lkjshaglkasjdhglkhjz lkcvl; g;aodh;owih, Wed 2 Dec 2009, 13:50, Reply)

Marketing
though obviously not marketing financial services. I am fucking useless with money.
(lkjshaglkasjdhglkhjz lkcvl; g;aodh;owih, Wed 2 Dec 2009, 13:50, Reply)

The only way forward that I can see is prostitution.
I'll gaz you my number. Don't worry, I'll be gentle with you.
( girlinthehole, Wed 2 Dec 2009, 13:47, Reply)

Can't wait
any special requests?
(lkjshaglkasjdhglkhjz lkcvl; g;aodh;owih, Wed 2 Dec 2009, 13:52, Reply)

Get her red wine
And she'll be much easier to deal with!
( Agnostic Antichrist Baltimora, Wed 2 Dec 2009, 13:54, Reply)

Pfft!
You're not supposed to enjoy it.
( girlinthehole, Wed 2 Dec 2009, 13:54, Reply)

As you have breasts
then I am sure that I would
(lkjshaglkasjdhglkhjz lkcvl; g;aodh;owih, Wed 2 Dec 2009, 14:03, Reply)

that's your answer
for everything though.
(bamboozled Can hear you getting fatter, Wed 2 Dec 2009, 14:04, Reply)

Got me!

( girlinthehole, Wed 2 Dec 2009, 14:08, Reply)

Oh man, you're so screwed.
You should consolidate all your debts into one easy affordable monthly payment, quit uni and get a job.
( G/PP 💩💩💩💩💩&#128, Wed 2 Dec 2009, 14:01, Reply)

Wasn't bright enough for Uni
mind you perhaps I should have done a finance course at college
(lkjshaglkasjdhglkhjz lkcvl; g;aodh;owih, Wed 2 Dec 2009, 14:03, Reply)

If you were Carol Vordeman I'd sign up right now.

(Bazongaloid, Wed 2 Dec 2009, 14:05, Reply)