www.iva.co.uk

Hi Everyone,

I have been reading a lot of posts on this forum recently and was wondering if anyone can tell me the creditor decsions they may have had from any of the below creditors:

Lloyds TSB
MBNA
Citicard
Barclaycard
Halifax
Capital One
Natwest Bank

My largest debt is with Lloyds TSB and MBNA and I have heard these are the two most difficult creditors. Can anyone tell me anything that may set my mind at ease?

Thank you for your support x

Creditors are generally supportive of IVAs, but some of them do have differing criteria. They will look at your IVA on the basis of its own merits and vote accordingly.

MBNA have a policy of not accepting IVAs where the debtor could pay out in a non fee paying DMP in under 10 years, but are (in my experience) rarely an influencing creditor - ie one with more than 25% of the aggregate debt.

Thanks Melanie, our total debts are around £50000 and the debt with MBNA is £4500 or that. The largest sum is with LloydsTSB this is around £17000 from a number of various sources within the LloydsTSB brand. I appreciate your time and response.

Best wishes

I must admit that i was turned down by MBNA on 2 occasions for credit. They looked at my credit file and despite no missed payments in 12 months, decided that as my cards were all at the limits not to give me credit. It looks from some of these posts that as they don't give credit as easily as some of the other companies, they also don't 'give in' to an IVA as easily either. Maybe the credit limits they set reflect this too? I'll never know.

Hi

Barclaycard was one of my creditors and they voted yes.... in fact i think about 90% of mine was with Barclays and they were very supportive in general

xx

Hello there (hope this helps)
Halifax - We had a Credit card & Overdraft - they said yes.
Barclaycard - We had a credit card (with a large amount oweing) - they did not vote so they where tied in to the agreement.
Alliance & leicester - We had a loan & over draft with them - they said yes.
Littlewoods Catalogue - said Yes.
Tescos Credit card - they said Yes.
Hope this helps, we had debt in total of just short of 15,000 x

I'd have to say in response to n958g's post that I found MBNA very amenable when it came to getting credit (mores the pity...[:I]) - they issue a lot of affinity cards and at one point I had about 5 on the go. I even got stopped by one of those pretty young ladies with the credit card stand at Glasgow airport about two years back, and when I told her that I already had 5 MBNA cards she said "thats OK, you can have up to seven!!!". I didnt bother anyway. Most of my debt is with MBNA on 3 credit cards, and a personal loan so I am hoping they will view my lump sum IVA proposal favourably.

Actually "most" of the debt is not quite accurate, its about 40%, so still a considerable amount meaning their vote will be important.