Hi all, newbie on here I'm afraid so please be gentle. I've just applied for an IVA but very concerned at my app been refused by one particular creditor as they have done there upmost best to cause me hassle, they are the majority of the debt I currently have, what happens next?
When you say that you have applied and one creditor has refused - have you had a creditor meeting yet?
If not, and you are getting hassle, it will be the call centres who have no influence over the voting at all. They are just trying to bully you into making a payment to them.
Which company are you with?
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. Generally those causing the hassle are the collections department, whose sole purpose is to bully you, if need be, out of money. They have no idea of the IVA situation ( some I spoke to didn't even appear to know what an IVA was! The chances are that the voters at the meeting will not even be from the creditors company, but will be representatives, accountants etc. who will look purely at the maths.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi, cheers for the replies. I say application I had a telephone application in which I went through what debts I could remember, and the lady I spoke with seemed concerned at the big debt. Sometime ago I contacted cit adv and went through all the protocol to be told that I couldnt/wouldnt be able to go IVA as the there was more than 75% debt owed to a single company (welcome) and they would refuse the application. My iva application is with Money group
I've not heard of those, I presume they will pass you on to an IP company. Have you been asked to make any upfront payments if they go ahead?
Give one or two more companies a ring before making a final decision. The experts on here come highly recommended.
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
As it goes yes they have asked upfront fees nearly £400 but I can pay it weekly. Once that is paid up then they will start the process. They have told me any call/letters have to be referred to them with a reference number?
I got a mahoosive envelope through the post yesterday asking all manner of questions but the want my V5 (log book) and my rental agreement, very unsure now? [:(]
The payments will be for them to sort out the initial paperwork before they pass you on to an IP. I'd not be happy that they won't start the process before that is paid up.
You don't have to do that and can go directly to an IP company who won't charge you anything. Have they said what will happen to this money if you're not approved.
I had to send a copy of our V5 to my IP company and details of the mortgage.
Please speak to another couple of companies as you need to be completely happy.
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
Personally I would look and gain advice from a couple of other companies.
My IVA did not require me to pay anything up front and certainly we were not asked to provide the V5 log book to our cars.....I would be dubious and gain other advice.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I did have to send off a copy of the V5 and I'm with Payplan who are a very reputable company. I didn't have a problem with doing that, or sending off details of the mortgage.
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
They simply said that if I aren't approved then I will have to go on debt management plan (no mention of any refund)? Thats not really anygood to me as I see it that by the time I've paid the biggest debt off I'll be 93 years old at the current (affordable) rate I'm paying now. I was told by the creditors solicitors that even after the 6 years when me current ccj is up I will simply be taken back to court again and so on. I was told that unless I made more I quote substantial payments then I'd never be able to apply for credit/mortgage etc etc. I actually feel and I genuinely mean this as though I don't have any options left.....
Please speak to someone else - doesn't sound as though this company have your best interests at heart and if they won't start the process until you have paid this money across and don't think that you will be approved, personally speaking I think it is a non starter.
Is there any reason why you could not consider Bankruptcy? Your loan would be wiped off if you did that and I believe the CCJ would disappear as well.
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 have considered bankruptcy but having gone through the protocol with cit adv apparently I earn too much....(where it goes I do not know) but if I have over £300 disposable income then it will be refused? I only went with money group as they have come recommended by a friend? I'm also very unsure as I've sent off a email with all my previous addresses on to help the tracing of my debt/s as after the house was repo'd I lived in rented and recently moved again?
hi, you are in a very vulnerable situation. you should avoid paying up front fees.
why don't you make some more calls before making a firm decision? kall mentioned Payplan,we went with Melanie Giles,Michael Peoples- McCambridge Duffy posts here,he has a good reputation,Grant Thornto post here too. i'm sure others will post feedback.
BR may be a better option,get some more advice before commiting to this 1st firm.
you're not alone so post for support[;)]
Nothing stays the same...everything changes..hang on in there!
I've never heard of anyone having too much di for bankruptcy before.
Please speak to a few more companies - I really don't like what Money Group are telling you, plus you could be throwing good money after bad if you don't get approved.
With BR then any DI over £20 per month will have to be paid across for three years.
I'm sure some of these celebrities who have gone bankrupt have more than £300 di per month!!!
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
