IVA question

5 posts Page 1 of 1
Post Reply
 
 

wpp

User avatar
Posts: 3
Joined: Mon Nov 12, 2007 4:03 pm
Location:
Post by wpp » Tue Nov 13, 2007 5:20 pm
Quote
Hi all.
Im new to this forum. How is everyone doing.
I have loan of 15000 from Natwest which has grown to 30,000 after interest. I only paid about 100 pounds in 18 months or so.My questions are:
1.Shall i go for IVA?
2.If i apply for IVA , will it be based on 15,000 or 30,000?
3.What will happen to credit history after i paid.What is repaired history?
4.What is the minimum amount per Month for IVA?
5.Anyone knows what Natwest will agree as minimum?
Thanks
Top
 
 

iva experts

User avatar
Posts: 1271
Joined: Thu Apr 20, 2006 5:31 pm
Location:
Post by iva experts » Tue Nov 13, 2007 5:29 pm
Quote
Welcome to the Forum wpp,

Firstly, is Natwest your only creditor? If so it is unlikely that an IVA would work as you need 2-3 creditors for and IVA to be viable.

An IVA will remain on your credit file for a period of 6 years from its commencement. There is no set minimum amount per month, as an IVA is individual changes from case to case as it is what the individual can afford. However in saying this a minimum disposable income would be c£200.

I would contact 2 or 3 debt solution companies to get some sound advice on what your options are.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
Top
 
 

wpp

User avatar
Posts: 3
Joined: Mon Nov 12, 2007 4:03 pm
Location:
Post by wpp » Thu Nov 15, 2007 10:21 am
Quote
Thanks for the reply.
Well I have another creditor too. Orange for about 3,000 pounds.
So My questions are:
If i go for IVA , Will it be based on 30000 or 15000.Is innterest waived?
What will Natwest normally agree for monthly payment?
What if after IVA is setup I pay lump sum, will It be on my credit history for 6 years een though i have

paid with IVA within 1 or 2 years
Top
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:
Post by Adam Davies » Thu Nov 15, 2007 11:01 am
Quote
Hi
You have too few creditors for an IVA to be viable.To answer your specific question it will be the full 30k that is taken into account if you were to enter into an IVA.
You talk of a lump sum payment,why don't you contact Nawest direct and see if you can negotiate a one off payment

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
Top
 
 

wpp

User avatar
Posts: 3
Joined: Mon Nov 12, 2007 4:03 pm
Location:
Post by wpp » Fri Nov 23, 2007 5:19 pm
Quote
Hi thanks for reply, How much shall i offer natwest which they likely to accept.Shall i also tell them that i might be going out of country for long time. If you could please give me a rough figure which i can offer them. I am able to manage 5,000 in lump sum, but give me an idea. thanks
Top
Post Reply
5 posts Page 1 of 1
Return to “postings for november”