IVA Lead

[Shane]

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I may have a nice IVA lead for a good practitioner, personally I think she'd be better to go bankrupt but she insists it's got to be an IVA.

I have a question though regarding what can be included in the agreement, there's a personal loan arrangement for £5000 that the victim wishes to include into the agreement that hasn't been repaid from day one, it was a properly set up, signed agreement loand so can this personal debt be included in there too ?

The rest of the debt adds up to around £25,000 and the income is around £18,000 PA with rent of £6,000 PA leaving a disposable income of £12,000 for living expenses and repayment.

Any ideas of a rough repayment figure that can be acheived and can any of you IVA guys/girls reccommend a practitioner who will arrange as low a payment as possible and ensure it's set up correctly and managed professionally.

it's someone I know personally so am looking for the best person for the job rather than trying to make a referral fee out of it.

[KerryG]

Hi Shane,

PM sent to you.

Kind Regards,

Kerry

[123debtsolutions]

Hi Shane

The clients repayments will be around £250-£275pcm for 60 months.
Fees to you will be upon returned of signed docs.

The £5k can be included.
I need to know who the rest of the creditors are and we will need to conduct a brief I&E and know a bit more personal information.

Give me a call tomorrow and I will sort out the requirmeents and clarify your fees.

If im not in ask for Adam, I will brief him. Tel : Freephone : 0808 22 22 123

I assure you your friend will be in safe hands.

[BarryNK]

It's people like you that give our industry a bad name, how can you offer a commission without knowing the full facts.

Without knowing who the creditors are, it is impossible to make any judgment on whether an IVA will be accepted, all of her creditors might be with the same bank, in which case an IVA would not be suitable.

In any case, If a loan has not had even one payment it is unlikely that the creditor will vote in favour.

With that amount of disposable income it is likely that she would have to pay all of her debt.

[123debtsolutions]

Firstly i'm not an IP and I don't profess to know the facts of the case.
And I made an informal appraisal based on it being a viable case.

If you read in between the lines Shane and his friend/client sound like they know a bit about what there talking about and I would hope that they have done their research on IVA's and therefore I am making the assumption that it is a viable case!

Would you care to tell me that my figures are wrong???.. Tell me why they are wrong? (Assuming that the creditors are ok and that an IVA can be proposed.)
Then assuming the above is ok can you tell me why I can't tell him his commission...

Commission isn't gonna change.. An IVA is an IVA regardless of how small or big the debt level or contribution. I will still pay him approx £700 for the case.

I will also pay him on the same day the case is given to me.... NOT on the back end, not at MOC at certainly not after MOC!

People like you are those that give the industry a bad name.. Are you going to try and deny him his commission, or are you going to try and screw the client???

Re : DI... It's hypothetical but all he has assessed is the total income and rent.. No mention of children, partner, food/housekeeping, bills, vehicle, travel, living, contingency etc.... I am again assuming the DI to be around £300pm and a contribution of around £250-£275 would be a sustainable amount....

Do yourself a favour, tell your kid to put some more effort into your web site and go back to your day job and leave the affiliate world alone!

[Adam-123DS]

Obviously, without conducting a full I&E, the figures that Lee has quoted appear to be fair. If the DI is far less than £250, the creditors will most likely reject, if the DI is much higher than £300, the creditors will reject in favour of a DMP. Shane was only looking for rough guidelines, and this is an affiliate forum, not an IP's discussion centre!
On the facts presented, an IVA could be viable. If this is the case, we would be delighted to help, but will obviously need to know the full facts. Also, what is wrong with paying the introducer for the commission? Again, is this not an affiliate forum?! I am sure that Shane's primary concern is getting his friend sorted with the most effective company! Also, commission would be offered on a returned pack, not MOC. We would not issue a pack if the client did not have a very good chance of passing at the MOC stage.

FYI Shane, - if the £5k loan is the only debt to that particular creditor, their share is less than 25% of the total debt, so regardless of whether they had received a payment or not, if the remaining creditors decide to vote in favour they would be bound by the agreement. Sorry to be sooooo boring!

Also, Barry - you question Lee for offering a commission without knowing the full facts - you state that they would have to pay back the debt in full with that amount "of DI" - how can YOU state this without knowing the full facts!

[i3Marketing]

Shane, Go with 123 DS (Lee/Adam)..They will look out for your friend and help them in everyway they can