None of us are trying to run away - all of us on here are committed to paying back as much as we can to our creditors.
We can't manage to make the full payments for various reasons but at least we are doing something.
You can be proud of what you are doing.
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 worked on the basis that any additional charges, fees and penalties will be added to the overall debt at the point that the IVA is put together, so I'll be paying it anyway.
Once the figures have gone into the IVA company and the proposal has gone out I don't think that anything else can be added, but I do stand to be corrected on that.
Your payments will already have been sorted so don't worry about it.
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
Sorry, to clarify; I meant that at present nothing has commenced with regard to an IVA yet but I've already cancelled my DDs. Subsequently any amounts not paid between now and the IVA process starting will be added to the total debt.
As it happens, I fully expect to be emailing Tina tonight to say "Let's go," but I'm taking the call from the CCCS IVA person as it was arranged last week and I don't want to blow them out or muck them around. I'll hear what they have to say at the very least and make a decision later this afternoon.
Speak to CCCS by all means and let us know what they say - personally (and I wish I was with her!) I'd go for Mel.
However, the choice is yours and you need to be happy with the company you choose as 5/6 years is a long time to be in a relationship!
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
gbenno - don't worry about stopping payments, I have missed 1 month now and have only just sent all paperwork to my IP for them to draw up a proposal. It's quite scary when the calls start but I managed to change my mobile number for free by telling Orange I was having nuisance calls! Well they were a nuisance to me - Egg rang me 26 times in 1 day (I didn't answer until the 15th and tried to explain re an IVA but I was told I had to make a payment there and then. I told them I couldn't, said goodbye and put the phone down) I then had 11 more calls!!lol. It is lovely when the paperwork goes off as it's now out of our hands. Good luck
Some bloke had his debt written off because he was 'harassed' with 18 calls in 12 months and didn't realise he had to pay the money back. Maybe you should play dumb and try the same!!! hitting them in the pocket is the only way they'll stop torturing us with automated call systems
As others have suggested - maybe DO Not answer any of the security questions -they will not be able to proceed will the call, if they disclose information they will be in breach of Data protection
Morning folks, just a very quick update before I head out the door to work..
Spoke to the CCCSVA lady last night and she was helpful but crucially gave me one piece of very bad advice (not intentionally). I mentioned that I had stopped payments on debts pending an explanatory letter being sent to the lenders later this week, and she advised me to make 'goodwill' payments; that in itself is fine, but the issue was that she did NOT tell me that if I reduced my loan payment to NR (paying only enough to cover the mortgage), they would apportion it between the mortgage interest and the loan rather than putting it all on the mortgage and none on the loan - thereby putting me into arrears on the mortgage!
This one piece of wrong advice could have caused serious problems. As such, I'll be speaking with Tina and Melanie later this morning when I have a gap in my day...
With regard to any lender calls, as far as I see it, once they've been informed of what's going on, that should be it. I'll not tolerate harassment from them. I WILL fulfil my obligation to keep them informed, but I won't be bullied.
Thanks once again to everyone for their advice so far, it's been invaluable.
Last edited by gbenno on Tue May 10, 2011 8:36 am, edited 1 time in total.
Hi, sounds like you've decided what to do now,you'll feel better once it's in motion. creditor calls,letters etc can get very stressful in this next stage. i didn't ans. the landline&we switched mobile numbers,just stand firm &post when you need it for support. well done!
Nothing stays the same...everything changes..hang on in there!
gbenno-we had that happen when on a debt mamanagement plan-northern rock were getting 136 instead of 150 for the unsecured and taking the 14 pound difference off the mortgage payment-thus putting us in arrears.
I had to ring them every month for 7 months to request the money be transferred back to my mortgage.
They say the computers do it automatically-they have to transfer it back manually.
Then when the iva was approved they tried to take all 7 months again off our mortgage and put it on the unsecured!!!DOH
So I was on the phone again and after much arguing they put it back to the mortgage.
I was livid!!!my mortgage is the one thing that is always up-to-date.
So-anyone on the together mortgage with any arrears looking at iva-they will more than likely clear the arrears on your unsecured when the iva is approved.
Keep a close eye on your mortgage statement and ring northern rock after iva approval to ensure they havent re-apportioned the money to unsecured.
Cant understand why they think the unsecured should take priority.
Good luck gbenno
full and final accepted January 2015
iva agreed; August 2010
iva would have completed; August 2017
extra year thank's to NRAM
Great choice in my view. Just make sure you stop payments to unsecured only, keep the mortgage etc paid to make sure you keep your house (if that's what you want to do)
andrea1968 wrote:
gbenno-we had that happen when on a debt mamanagement plan-northern rock were getting 136 instead of 150 for the unsecured and taking the 14 pound difference off the mortgage payment-thus putting us in arrears.
I had to ring them every month for 7 months to request the money be transferred back to my mortgage.
They say the computers do it automatically-they have to transfer it back manually.
Then when the iva was approved they tried to take all 7 months again off our mortgage and put it on the unsecured!!!DOH
So I was on the phone again and after much arguing they put it back to the mortgage.
I was livid!!!my mortgage is the one thing that is always up-to-date.
So-anyone on the together mortgage with any arrears looking at iva-they will more than likely clear the arrears on your unsecured when the iva is approved.
Keep a close eye on your mortgage statement and ring northern rock after iva approval to ensure they havent re-apportioned the money to unsecured.
Cant understand why they think the unsecured should take priority.
Good luck gbenno
Agreed. I suspect they look to reduce the unsecured as it will mean they still get the full amount on the mortgage eventually AND snaffle some more back against the unsecured which they wouldn't have had otherwise.
The mortgage is 'number one priority' and for now I'll continue to pay the unsecured loan too just to prevent any issues.
Tina and I will be getting the ball rolling later today. Feels good to have a sense of direction and actually be doing something...
Last edited by gbenno on Tue May 10, 2011 11:40 am, edited 1 time in total.
Very pleased to hear from Gbenno this morning that he wishes to proceed with us - Melanie will be dlieghted to represent him. It just shows the value of doing your research first and taking that next step when you are ready to - its too tempting to jump with the first person you speak to and take everything they say as the way it is....and as Jan often says - 5 years is a long time in a relationship - best to get it right!
Welcome on board Gbenno - you'll have everyone on here to support you through the process as well of course as Mel, myself and the rest of the team on the mothership!
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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