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MBNA IVA

MBNA IVA

My IVA Adviser has learned the credit provider MBNA have tightened their criteria for acceptance into an IVA. MBNA now expect IVA dividends to be a minimum of at least 40 pence in every pound. In addition MBNA also say that if a debt to them can be repaid informally to them within a period of ten years they will reject the IVA.

Of course, this is only enforceable by MBNA if they control more than 25% of the total debt owed and can therefore “vote down” the IVA.

To find out more about the stance MBNA and other creditors are taking in regard to IVAs call 0800 088 7503 and speak to one of our advisers for the latest creditor positions.

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