I appreciate that NR (and other creditors) need to get back as much as they can, but I think they are cutting off their nose to spite their face a lot of the time - they are the losers at the end of the day as a lot of posters choose to go bankrupt rather than face a DMP which will go on forever.
I am so glad I have haver had a debt with Northern Rock.
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
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
I thought they'd put a stop to that - obviously not!
Wouldn't touch 'em with a ten foot barge pole!
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
Melanie, my partner and I have been together for 4 years, the loan with NR was taken out 12 months before we moved in together and 6 months before we met. The loan was spent on furnishing a flat when my wife and I separated and to buy my current car. The re-payments were not a problem for 3 years and then circumstances changed and I entered into a DMP, this I managed with for a year until my partner had to change jobs (due to stress and depression) which was £300 pounds a month less, at this time my DMP team suggested looking at an IVA.
None of the debt owed to NR is anything to do with my partner, she hasn't benefited from it in anyway. We do not have any debts in both names or any children together. I have tried to be as honest as possible with my IP and felt that the proposal put forward was as fair as it could be, ALL of my other creditors accepted it without ANY changes. NR insisted on 6 years which I agreed to, then they tried to get me to agree to adding £100 / month next year when they decided my eldest son would leave school (which he probably will, but only to go to college/university for a further 2 years), I wouldn't agree to that and they withdrew the clause, then this clause involving my partner, I'm really not going to agree to pay extra into the IVA based on 'crystal ball' reading.
What really boils my blood is that in either of the above cases NR would benefit IF either happened, IE my son left school and didn't go to college or my partner paid of all her debts and incurred no more, I would be legally bound to inform my IP of the increase in DI and my payment would increase. I'm beginning to think that NR employ only sub-humans who can't even think straight let alone deal with IVA's. I understand that they are trying to get the best return possible, but at what cost?
As to saying my partner and I are just 'flat mates' surely that could be considered as fraud simply because it isn't true, I don't want to spend 6 years wondering when (of if) they would find out we are actually partners. I wanted the IVA to help ease the stress not add to it.
Now I am at the stage where I will do anything to ensure that NR get nothing at all from me, its just a shame that my other creditors will have to suffer because of their b***** mindless decisions. Even if I have to pay a monthly amount after bankruptcy it will be for 3 years not 6 and I hope NR choke on every penny.
I really wish there was an independent body that could look at cases like this and if warranted make creditors accept IVA's that are a true reflection of a persons ability to pay.
I wish I could stick your post in or on the window of the local NR branch next to their" friendly lender" advert. I have never read anything like it - they do not seem to be thinking straight at all. Nevertheless I do hope you do not give up now for then the blighters would have won twice! David
I don't consider the flatmates argument would be treated as fraud. The Official Receiver in bankruptcy proceedings does not pry into the personal relationship of two people sharing accomodation, and I see no need for it here. As you say, if your creditors are not prepared to accept a reasonable offer, you can walk with your head held up high into the bankruptcy court in the knowledge that they will receive very little if anything, when youy have tried to provide a very quick return.
Was your IVA proposal prepared under the terms of the IVA protocol?
elv5 ... you have my permission to print and stick my comments up outside their office .. nigh time gives great cover )
I've already given up, I have the BR forms and I'm going through them today. NR have already told my IP that this clause is not negotiable and if I don't accept they will not accept the IVA proposal, so really I have no where else left to go. I'm not prepared to pay DMP for the next 13 years and even if my BR is turned down I will just quit paying anything and let the law take its course. I've had stress enough over the last 3 years because of all this and every time I try to do my best those bastards at NR stick the knife in a little further ... I'm done in.
I hope David gets that even if it can't help me it will certainly help others in the future.
I doubt your BR will be turned down. You have tried your best and you can do no more.
I'm glad NR won't be getting a lot from you - it serves them right for being so inflexible.
Just remember that we are here for you no matter what. Rant on as much as you like, and I hope you do manage to get things sorted out.
You deserve a very big break.
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
Melanie, as far as I am aware Freeman Jones have done everything as it should be done, even spending a 3 hour phone call trying to get NR to change their stance.
)