IVA Kid,how long have you been using the payday loans for and what level of money is outstanding on the loans?
The reasons for taking out these loans is often down to having to live without credit being close to impossible. My car literally blew up and the cost to repair it was greater than its value so I borrowed money from my Nan and along with a 2 month payment break I was able to purchase a car that should last me until my insolvency ends.
Now had I been unable to go to my Nan,I would have seriously thought about a payday loan type place. Also the wifes car needed £800 of work for the last MOT,our allowance for car maintenance is £17 a month,so getting it fixed was a real problem.
We all know that credit whilst in an IVA is wrong but lets not kid ourselves at how easy it can be to become desperate enough to say to hell with it and take the loan.
IVA Kid,in my opinion you have 2 choices,you can come clean and risk your IP failing the IVA,or you say nothing and hope that no one notices the payday loans but you really must sort them out or the circle of debt will start again.
Liverpig I can fully understand your attitude towards someone who has entered into an IVA to sort out debts only to carry on getting further into debt during the course of the IVA,but without knowing why the loan was taken out its not good to judge. It could have been for funeral costs to cremate a parent,I am sure then your view on things would soften.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
kallis3 wrote:
The OP does need to speak to his IP and explain the situation. It will all depend on his company.
We're not really going to be able to help him out as it is down to his individual company and how they deal with it.
Hopefully he will come back on and let us know.
How true it is I don't know, but I was told the final review consists of 5yrs pays slips, 5yrs bank statements and 5 yrs worth of p60's! When I was told this i was baffled because why send them in once a year (was twice with BE)? Just in case I have saved them all on my laptop.
I think he just means is there anything different he has to do other than a normal review?
If Football was meant to have been played in the air then God would have put Grass in the Sky
We never had a review at the end.... whether it was because our IVA was not of the new protocol, I don't know. We had our final review after year four which was the same as any other review. We then had to extend due to not releasing equity, but never had a review since that 4th year one. You would need to speak to your IVA company and just make a general enquiry as to the end processes.
Last edited by KAYKAY on Fri Sep 16, 2011 1:31 pm, edited 1 time in total.
Hi
I am in the last year also and finish in the new year I dont know what will happen But I cant see the point of sending in the whole 5 years of bank statemnents and P60s as they have them already and I dont know where mine are now anyway I want to change my bank too as its a pain to use
I would guess they would do a final review of the last few months and a P60 as a last check Otherwise why have yearly reviews and make more admin work
good luck anyway with your post and hope you get a better answer than mine
Maybe if a few Companies wrote what they do at the end of the IVA that may help a lot and give people lots of time to prepare
I think somebody else asked the same
As there is lots of starting an IVA help but nothing really detailed at the end
I assume all the companies have different ways to complete so thats why I think if a few companies could spend a few minutes posting there way of closing the IVA it may help people as its quite confusing to read some say I didnt do that and others say Oh I had to do this or that and makes people start to panic
Just a thought
I never have to send in bank statements and have never sent in a P60. I'm pretty sure that the end review is pretty much the same as all of the others.
I send in payslips every three months and fully expect the same to happen at the end.
I doubt you would have to send in five years worth of things as they already have them.
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
Good afternoon everyone, i sent off my final I & E form to GT mid June, for this i sent my P60 because i was one payslip short of the years required payslips, about two weeks later i received a letter back confirming receipt of my documents and that no additional income is due into my arrangement, i then phoned to ask about what i needed to do when i made my last payment which is in two weeks time at the end of September, they said phone us when your last payment has left your bank we will agree it has arrived then i can go to my bank and cancel my standing order, i asked how long it would be before receiving my completion letter they said three to six months. Many Thanks David.
Hi
Just getting back to above response by Liverpig
I cant see how he or she is being rude just pointing out that you cant get credit in an IVA
Respect for others that works both ways Liverpig is offering an opinion that is valid Its the same as going to see your boss at work when you have done something wrong that you are not supposed to do Would your boss give you a nice hug and send you on your way NO Some people myself included need a straight talking and a good slapping as my old boss used to say
If Liverpig was another person on this site I am sure the response would have been different and agreeing with his points
I answered a question a few weeks back about a person getting harrassment by Phone and Letters I told them they are allowed to stop the telephone calls by asking them to take there number off there records
My post was then responded to in a Snidey way and said Hippo the person didnt ask that
I copied the posters question and showed that I was correct I then read the same admin person respond by Whatever No sorry Hippo my mistake
As I read in here a few times people just write something that does not answer the question and talks about there own predicamant
The Questionn asked !!
What checks are done at the end of an IVA? I haven't had any problems from my IP yet, but when it is sent off for completion, what exactly happens? will this sort of thing be checked, and by who?
A fair few jumped on Liverpig and rather than help the person with the question tried to point score against him until Olydak responded to the question
I am interested to know what happens But all I have read is about is having a pop at liverpig
Would it have helped if liverpig had said awwww what a shame your IVA will be fine dont worry about it.
He states quite clearly that the user was pretty stupid to get credit and is stating that the user has not learnt the lesson that got him or her in the situation
Regardless of what the money was borrowed for its irrelevant AS he says there are more than enough people who have been in the situation and say you can not get credit
Some person wrote I have 3 horses can I get them accepted in my IVA or some have pets and 3 dogs or more To my mind you should not have any pets or be allwoed to have them in your budget and Vet bills etc
I thought the IVA was about cutting things to the bone to pay back
I am a rampaging Hippo today and some people need to get real instead of gushing about certain people and having a pop at others
I was lucky I had a tough talking friend who told me straight and told me to sort myself out whcih I Was doing If he had been all cutesy and sweety I would have not listened
Everybody has an opinion 2 sides to every story
So yeah lets see a straight answer to the guys question
Would he be found out about the pay day loans ( whatever they are )
or would he be caught out ?
I would fess up myself and hope that as its the end of the IVA it could be worked out sensibly As yes '' we '' dont know why it was borrowed . but the deeds been done help the poster with a sensible answer and not have a pop at liverpig
Hippo -- to use your analogy: If my boss gave me a good dressing down on a public forum or in an open office in front of my colleagues he would wake up in A&E !
You complain of people talking around other subjects and not answering the original question ..... is YOUR post doing that ? No, it isn't.
Enjoy the apples Hippo, I think Hippo needs the sugar hit.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
As Andy says - the ethos of the forum is respect for all at all times and I really don't think you are doing that at the moment.
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
Not everyone will agree with the moderation of this forum but on the whole I think it is fair and consistent because ultimately I have had the final word since it's creation back in 2006. Jan and Skippy have been around for nearly as long and do a superb job [unpaid] along with the other moderators. Some people may need a short sharp shock, agreed, but that can come from their own IP who will have the full facts of the case. We can't, and will not, judge someone from the small amount of info detailed here.
Regards
I think most posters agree with the moderating of the forum. It's not often that posters are locked out (unless it's spam).
We should never judge posters which is why we have the forum etiquette.
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
why do the admins here get away with having a go at the other users
I think you are being highly offensive towards me
You state
You complain of people talking around other subjects and not answering the original question ..... is YOUR post doing that ? No, it isn't.
READ MY POST SKIPPY
I would fess up myself and hope that as its the end of the IVA it could be worked out
I was siding with Liverpig thats all as he was not rude
I read the responses actually So again you are being offensive and snide to me
And yet again NO you have not respnded to the Question he asked
whether he would be found out about his loan and what checks are carried out
I have read the respnses and apart from the 1 person all the rest had a pop at Liverpig and did not help the question poster Refering him back to his IP is a cop out
Or why not just put See your IP and copy and paste that in every question
I really like to offer some help but in the last month I have had snidey comments from Kallis about a answer I give and when I pointed that out its passed off as whatever because Kallis had not read the question correctly as people here have not yet again Just had a go at Liverpig where is your respect for him or her
So where is your fairness and respect to people taking time out to answer
And to post
Enjoy the apples Hippo, I think Hippo needs the sugar hit.
Is pretty childish also as I may be diabetic or have a sugar allergy etc
Sorry, this topic is way out of order now and I am locking 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
No one who posts on the forum gets away with 'having a go at the other users'.
As both myself and Andy have said the ethos of this forum is respect for all, something that wasn't shown by Liverpig. I haven't been disrespectful to anyone on the forum, but I don't find your post very respectful to me.
We don't know the original poster's full circumstances, so all we can tell him is to speak to his IP. Different companies have different procedures.
