www.iva.co.uk

We are nearly 2 years into our IVA which is going really well (thanks to Melanie and her team). We come out of our fixed rate with NR in January though and aside from flapping about that I thought there was a light at the end of the tunnel with the 0.5% recent interest rate cut but i can't see that it is being passed onto NR customers - anyone have any idea if thats likely to happen?

I think that they will eventually have to drop their rates, especially given that they are nationalised, but this may take a little while to pass on. For anyone in an IVA who is also facing an interest rate rise in the future, do try not to panic - the creditors are very aware that there are these difficulties to work with and are largely being sympathetic when it comes to variation meetings.

Nice to see you posting - and hope that the little one is keeping you both busy!!!

Northern Rock and others are becoming more sensible and have started to employ people from the real world. You could have a chat with them as to the expected hike or what other fixed rate or whatever they are able to offer nearer the time. Good luck.