applying for a loan after they've been in an IVA?

[Nascptt78]

Has anyone tried applying for a loan after they've been in an IVA?

I didn't think i'd hear myself say this, but although I am currently financially stable, my wedding is costing me a fortune and I need to find £2,000 and although both families have kindly chipped in,
it's still not enough!

Any ideas, or am I crazy to think of this suggestion!?[?]

[lily]

Youre crazy, sorry

I would have a cheaper wedding, just my opinion though and I do wish you the best with everything.


lily

[aguise]

Start your married life finacially stable and debt free. Just my opinion too. Cut back on a few things, getting married to the one you love is more important.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[mish1953]

totally Bonkers !

How much is it costing you ?

Mish

[Adrian Ratcliffe]

Be nice to know how your financialLy stable in an IVA.
Standard IVA no more credit to be obtained.
If your finding 2k must have cost atleast 6k not the best way to start be honest with the inlaws I had all that.
Your new to be obviously doesn't know ?
best move would be to tell her now see how much she loves you.
hope it all works out

[Nascptt78]

Thought i'd get mixed messages!

I just have a few people to pay off now and i only have two more pay days!!!

[Nascptt78]

Hi Adrian, i came out of my IVA last year hence i am now debt free, well apart from my mortgage!

[mgf]

Hi,

It's nice to know you are financially able now. Why set your self to a wrong foot? Surely you don't want to go on that route again?

My advice is check how much cash you got:
Set out all priority expenditure
if you need to get that 2k, how much longer do u think u can save that money to be able to afford? Can ur wedding be postpone until u get the money without sorting to borrowing?


just a thought...

regards,

Maria

[louisa.s]

Wouldn't recommend it! We are getting married in September and have managed to cut costs by doing the majority of the things ourselves and my parents helping out for the main things. Aren't parents great.

What have you got left to pay for? Incidently the entire wedding is costing us about £5500.

[james.c]

not been funny

didnt you learn anything, when i was first in debt it was only for 2k and things got worse and worse, until now in an IVA, after my iva apart from a mortgage i will never borrow any more money, if i want it i will save up for it then spend it.

Think back what it was like when u were in debt before.

If you borrow again, i am sorry your stupid.

I am too getting married, was meant to be in december, but put it back 12 months so we will have the money

[jane.l]

This might not go down too well, but when I got married it cost about £26 I think! We paid for the Registry Office and a very cheap bottle of champagne, which I never got to taste! I bought a cheap suit off the market, it was all we could afford, it was 1989! My mum made a small cake.

I really think these big expensive weddings are a total waste of money, its only one day, a marriage lasts forever!!!!!

I just think it can be done very cheaply if people want to get married so much. People often say “oh we cannot afford to get married” Of course they can, if they really wanted to!

oops, Ill just go and hide!

[aguise]

Just like you Jane registry office, party at moms house and one of the best days I could have wished for. I have to admit that i dont like to be the centre of attention amd dont like any fuss, some do want this big wedding and that is their choice. For the cost of some of these weddings you could furnish a complete house, but if its what you want then fair enough but I would rather stay out of the debt , there must be points that you can cut back on rather than go into more debt.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[thebear29uk]

Wow

Everybody seems a little quick to judge. Here is somebody who has spent 5 years in an IVA and come through the other side. It ended last year so at least 8 months ago and they haven't rushed into getting any credit. It sounds to me that they have learned their lesson.

This may be an unpopular view but post IVA there may be reasons for wanting to take credit again. What I am learning from my experience is that having a credit card and accepting ridiculous credit limits, then applying for another to transfer the balance but keeping the original one was what lead to my situation. Spending without knowing I could afford it and then consolidation loans followed and here I am.

I know people have come on here in the past asking how quickly their credit rating will be repaired and I have advised not to fall into the trap but a wedding is a one-off expense. £2000 if borrowed sensibly i.e. no further borrowings and paid off as quickly as possible without leading to financial hardship should be okay for somebody who has the IVA repayment amounts as disposable income now.

How long have you been with your current bank? It may be they would authorise a reducing overdraft for you.

Whatever you decide good luck with the wedding

Regards

Dave

[Skippy]

I agree Dave. Yes it is only for one day, but if I was getting married I would most probably do the same.

Regarding the comment about being stupid - if you go out and borrow beyond your means then yes, that is stupid. In an ideal world I won't ever have credit again, but my car is not going to last forever, and when I need a new one I will need credit of some sort and if that makes me stupid the so be it.

I would say to Nascptt78 that if you feel that you can be disciplined enough to only borrow 2k and can repay it comfortably then go for it and enjoy your day!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[MelanieGiles]

Dave makes some very sensible comments. Credit used wisely, for occasional items can be a real benefit. The trick is not to get caught up by the temptations of the store cards. Limit yourself to a bulk standard Visa or Mastercard, and leave it behind on the honeymoon!

You have done well to have successfully completed an IVA - further demonstration of the value of this repayment method for you and your creditors!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk