Hi Luna.
With regards to our mortgage reduction, during the whole process nobody would give us a clear answer to what would happen.It wasnt until it changed that we finally got the answer!. I like to think we are lucky in that after our fixed rate ended we then went onto a tracker 1% above base rate.
I know if the rates go up then the payment goes up, but for every 0.25% the rate goes up then payments will increase by £23 per month, worked out by them.
With regards to the split we have it in e-mail that we will keep all the 50% of the mortgage reduction even after the yearly review.
The important thing for us is to save the money in case of future rises.My own opinion is that the rates wont rise over the next 4-5 years by more than 2-3%! Time will tell i guess.
We have been keeping everything filed for our review,good thing is we send(e-mail) our wage slips in every month so if there is any overpayment due we then pay it within the 14 days. That way we dont get any supprises!and the supervisor knows exactly what we have earned every month.
Nice to speak to someone who's with the same company, i havent seen too many on here with the cccs.
Will have to agree with you that they did a thorough job in preparing. Will keep it touch. Good luck.
Baldy &Family
I am looking for the cost of living amounts when you have an IVA, standards state that a lone parent COL is £23,900 but obviously this is reduced with debt. Is the cos of living £16k or around that figure?
There are allowances and guidelines for IVAs but these depend on various items such as rent and travel which cannot be standardised. You need to go through all the allowances with your IP.
The 2007 IVA has failed and I am looking to re-sumit via another agency due to upfront costs with original practicioner. My circumstances have changed from full-time employment earning £27k to full-time Employment and Support Allowance, DLA with limited income and I have submitted this, but I wish to know what the variations on the Rent and travel can be also what is the lowest amount the practionery can submit to creditors, at the moment the plan is £159 per month but this would cause a struggle if income fails to come in? Thanks
Some IP firms will do IVAs for as low as £100 per month but the main issue has to be affordability and if your income is not guaranteed an IVA could be bad advice. It seems a shame your previous IVA was failed and not closed down when your circumstances changed and perhaps you should give serious consideration to bankruptcy.
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
No assessts, voluntary re-possessed my previous property when made redundant in 2009; recently sold expensive items and car on eBay... The main fault of bad income is CSA and when state benefit payments are missed due to no fault of my own such as applying for DLA recent cause of missed payment in June 2012. The only good thing about re-applying for IVA is to assess PPI claims on the past debt which may reduce the debt for a £90 debt management claim?
You don't need an IVA to be able to assess PPI claims. You can either do this yourself or appoint a claims management company to do it for you. If you do have valid claims to make you may then not need a debt solution.
I realise this as I have preparred letters myself, my thinking is that it seems quicker to be done all at once as previous IVA took from 2008 to 2012 to become failed when payments ceased in 2008. Also CAP money have assisted from November 2011 but still have not suggested any course of action to date, July 2012 and the arrears keep building. The main problem is the Bankcruptcy fee, which if a further debt solution can work; or reduce then making the claim only £90 to make Brankcrupt seems easier for my current urgent circumstances. Unless you can suggest any quicker methods. I have an NPower application refused in the last 6 months and am able to re-apply; or apply for rent arrears and utilities to ward the wolves from the door.?
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
The bankruptcy fee comprises two sections - the Official Receiver’s fee of £525 paid to The Insolvency Service and the Court fee of £175, total £700.
If you can demonstrate that you are on benefits then you may be exempt or pay a reduced court fee.
If your debts are less than £15,000 the fee for a DRO debt relief order is £90.
Are you thinking if you reclaimed PPI your debts would be reduced to below £15,000 and you would meet the DRO criteria? if so this may be an option for you to consider
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
Yes I am thinking if I relaimed via PPI my debts would be below £15,000 for a DRO. So am I right in thinking that re-submitting an IVA to see if the debts reduce for a DRO would be the best and quickets option at this moment in time? Thanks
At the moment trying for 'big if's' for exemption and staying put in my rented property is too much a risk and that the re-submission to see if I qualify for a DRO is less of a risk at the moment. I can then re-apply for NPower for utility bills that I have now reduced via meters and rent arrears due to benefit delays?
