..just an update

[vad921]

Hi all,

I spoke with a lady from Melanie's office yesterday and went through an income/expenditure sheet re the feasibility of an IVA. I have to say the lady was very nice, supportive and completely non-judgmental. I felt better immediately. We need to save around £300 p.m. to facilitate the IVA so we will call our mortgage company next week and discuss an interest only mortgage. We currently pay around £1250 p.m; I don't know if anyone has any experience of interest only and whether, on the surface at least, it may be 'do'able?? Does anyone know roughly if we are likely to save £300 from a mortgage payment of around £1250??

Unfortunately I completely forgot to mentioned our overdrafts and a £500 Asda C.C. and I'm sure this will also affect the formula!

The feeling that we may have options after all is a nice one!

[angela18]

Melanies team are great, we spoke to Tina at first, now dealing with Angela, they are always polite and extremely helpful. Fingers crossed for you[:)]

[vad921]

Melanies team are great, we spoke to Tina at first, now dealing with Angela, they are always polite and extremely helpful. Fingers crossed for you[:)]

Yes, it is Tina who is helping us.

[angela18]

She's lovely, and very helpful

[maxdebt]

Yes Tina is lovely I spoke to her for 2 1/2 hours on the phone! We had a mortgage and secured loan which were costing us £1250 a month. After an interst only remortgage we are now paying £760 a month. That released enough disposible income for Melanie to put forward a proposal [:)] ( accepted at 25/£)

[Shining]

I dealt with Tina initially on the telephone a representative of Melanie and boy does she represent her well! I too changed from repayment to interest only mortgage. My mortgage company would only do it for a 6 month period so we contacted Tony Parson aka Welshboy and he reduced our payments from 929 to 638, thus giving us enough to propose an IVA which was done and accepted. Will go back to repayment when the IVA completes but for not it was the key to my IVA. Good luck for the future I'm sure it can be done. I thought my situation was impossible but in the end it all worked out for me and my family.