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jackie90
- Posts: 102
- Joined: Fri Mar 06, 2009 1:58 pm
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Hi Swardean. about 4 years 10 months. Yes I hope the IVA goes through because like you have said it is a lifeline to pay all debts off and be able to afford to live (a little) as well. before all we had was money to pay bills and nothing else so would use credit cards to get groceries etc.Know it will be hard but no harder than before [:)] Really don't want bankruptcy but realise no option if IVA gets turned down.[:(]
On the road to freedom from debt!
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mole
- Posts: 1304
- Joined: Wed Mar 25, 2009 9:30 am
- Location: United Kingdom
Then hopefully you will get a 5 year IVA Jackie. NR seem to be difficult when they are in the driving seat of majority creditor. For myself, as well as insisting on 6 years they challenged for increased payments even when others thought they were acceptable. That said, Mr Mond did a good job for me and I have a proposal that is fair and acheivable.
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jackie90
- Posts: 102
- Joined: Fri Mar 06, 2009 1:58 pm
- Location:
That is my only worry. That they (northern rock) will ask for more money which we cannot give and they know we are desperate for the IVA. six years will be for us anyway because of our equity clause if none at the time
On the road to freedom from debt!
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mole
- Posts: 1304
- Joined: Wed Mar 25, 2009 9:30 am
- Location: United Kingdom
Jackie, it is often a question of brinkmanship, they know you want an IVA but also they do not want you to go bankrupt, so it is a question of putting forward a sensible and fair proposal and sticking to your guns. If it is a fair offer, your IP will fight your corner for you and I am sure it will be accepted.
