Hi EVERYONE
I stumbled across you while desperately searching for answers to my debt problems.
After reading your forum i have found the courage to face an iva which i have contacted National debt line to arrange
Off work with the stress at the moment but really need to get back to work. How long does it take to set the iva up as i don't think i can go back to work until i know everything is ok
Also is it better to have equity in your property to get the iva approved or doesn't it matter. Really scared now that i will not be approved
Thanks for giving me the courage to move forward with this
Hi Tamzin (I love that name!) and welcome to the forum
Which IP firm have the National Debt Line referred you to as a matter of interest? An IVA should not take more than 6 weeks to set up providing you provide your IP with all relevant paperwork at an early stage.
Whether you have equity or not, this is unlikely to affect your application. Very best of luck with everything - and do let us know how you are progressing with things.
I made first contact with my IP, on March 26th 2009. On Moday 11th May it was accepted. So my one took between 7 to 8 weeks to arrange.
It will depend a lot on you and how quick you are when the IP requests paperwork and such. I was pleasantly suprised how quick the process was. If i am being honest, i was also very happy at the ease of the application as well.
Keep your chin up.
Thanks everyone
Feeling better already. I know this is only the beginning and we have a long haul ahead of us. But at least i feel like something positive is happening now. Just spoken to Grant Thornton and they were extremely nice and helpfull. They did say that Blackhorse one of our creditors could be a bit tricky but they seemed ok with our figures. Apparently we would be offering 33p in the £.
They are even sending someone to pick up all the paperwork
Well done for seeking help - once your IVA is in place you will feel a real weight lifted I can assure you and your life comes backto you and it become a challenge - don't be surprised if you do not become a constant " checker of the bank account person" - it is so nice having money at the end of the month again ! Good luck
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
hi tamzin we used grant thornton and they were great.started our process middle of feb and iva was approved on 27th april.they were always willing to answer any questions we had and were very helpful
We are here on the forum for support and advice (and a bit of a laugh sometimes!) whenever you need it.
Good luck with your application - an IVA is a challenge, but I love being in control of my finances now, rather than it being the other way round.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Tamzin - GT are good so don't worry. We are all here to help you so post away.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Morning all
I have recieved an e-mail from my IP showing all the paper work i need to send to them. At the bottom of the list it asks for a one page narrative on the causes of our financial situation including dates jobs etc
To be honest its made me feel like a bit of a fraud. we are basically in this mess because for the last 10 years we have had money thrown at us by our bank until we got to the point were we had to get other loans to pay them, so basically we have been stupid and greedy, but i cant put that can i?
Do we deserve to get the iva?
x
If that is what happened then put that down. You are not the first and you won't be the last person ever to fall foul of the debt cycle that has occured over the recent past.
Always pays to tell the truth so you have nothing to fear.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Just be honest - and tell them what has happened from the time you started borrowing money to your current difficulties. My clients tell me that it can be very therapeutic to write it all down, so promise yourself you will do it on Sunday afternoon!
Tamzin - we spent our money on holidays, cars, home improvements, credit cards - you name it!
Don't be ashamed to put down the truth - most of us are in debt because of being able to get hold of credit easily.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
