• Debt Management
• IVA
• Trust Deeds
• Bankruptcy
• Consolidation
• Remortgaging
• Debt Advice
• Business Debt

My IVA has been rejected. What do I do?

An IVA must be approved by more than 75% (by debt value) of your creditors at a meeting of creditors. On some occasions creditors may reject a proposed IVA. The most common cause is that the proposed dividend is not at a level that meets individual creditor guidelines.
 
If your IVA has been rejected at a meeting of creditors it may be possible to re-propose an IVA if you are in a position to offer an alternative level of payments. If you feel that this is the case please contact us online or on 0800 043 3328 to discuss your options.

However, an IVA may not be the best possible solution for your financial problem. There are alternatives to IVA’s which may suit your individual circumstances better such as;

Debt Management Plans

A debt management plan is an informal arrangement with your creditors whereby you agree to pay back your debt at a level that is affordable for you. The plan will last as long as it takes you to pay back your debt in full but at a manageable level for your finances. You will no longer need to worry about dealing with your creditors and we can try to negotiate that interest is frozen but this cannot be guaranteed as it is not a legally binding arrangement. 

* For further information please see our Debt Management Plans section.

Debt Consolidation

With Debt Consolidation, you can consolidate your debt into one monthly payment by taking out a personal or secured loan. This loan will effectively pay off your current debt in full and your debt will be consolidated into a monthly payment.

Bankruptcy

Bankruptcy is a legal status often considered when you are not in a position to pay your debts as they fall due.

Bankruptcy can either be voluntary, whereby you petition for your own bankruptcy and will cost approximately £500 or involuntary, whereby any creditor you owe £750 an petition for your bankruptcy.

* For further information please see our Bankruptcy section  

Should you wish to discuss your options contact us online or telephone 0800 043 3328 for free independent advice.

Can we help with your debt problems?

To find out if McCambridge Duffy can help you regain control over your finances before matters are taken out of your hands, or to find out if you qualify for an IVA , simply get in touch via one of the methods below...