www.iva.co.uk

Hi all, I'm Kelly

I have OVER £20,000 worth of debt, owed to 12 creditors:

Barclayloan £9000
Barclays overdraft £1500
2 Barclaycards £2000
Cahoot loan £2000
Welcome Finance loan £2000
Ace catalogue £500
Next card £800
Ikea card £800
SimplyBe catalogue £800
HFC finance on a laptop £300
Provident £1000

(The amounts are approximate)

The majority is owed to Barclays. Which of these are likely to agree and which are not likely to?

Thank you, in advance, for your time x

Hi there

If your enquiry relates to a potential IVA, the creditors you have listed are all very likely to accept an IVA providing you put your best offer forward.

hey lastresort and welcome.
if youre deciding about your options you might like to look at www.iva.com
on this site it gives you info on all the different iva companies as well as reviews.
also whenever you need help and advice jump on here-this forum is brilliant and you will recieve loads of support good luck x

Good morning everyone.

As FD rightly says, a visit to www.iva.com is in order. Any reputable IP firm will assess your situation, inform you of ALL your options on a no obligation basis and then let you make your own mind up as to which way you want to go.

Good luck and let us know how you get on.

Regards.

Thank you all for your advice. I have decided I would like to go for an IVA, I was just wondering whether those particular creditors are likely to accept.

I have a few telephone appointments with IP's later this week, to start the ball rolling.

One thing that is worrying me though...I have no money to pay up front, do I have to pay a fee or does it depend on which IP I go with?

Thanks again x

It depends which IP you go with. Make sure you ask whichever one you choose.

You can usually manage to save up your first payment by not making any payments to your creditors prior to being accepted.

Great, thanks for that. If I don't make payments to them, isn't that going to make things worse though? Because I don't want to fall into arrears and end up with ccj's or something...? xxx

If you make the decision to go for an IVA(if thats whats right for you),then missing a few payments to creditors wont make any difference at all. Most of us had good if not excellant credit rating prior to jumping on board the iva train!!!

The majority of posters on here were in arrears with their creditors (myself included). By the time your creditors meeting comes around, it is unlikely they will have had time to take any legal action.

You will just have to put up with phone calls and letters from them.

Oh right, I see. So it won't hurt to fall a little behind with payments, once the iva is being arranged then?

I'm worried that my credit rating will be damaged in the future, if I ever wanted a mortgage for example.

I know that the iva itself will make me unable to borrow for a while, but will it be made even worse by falling into arrears with creditors?

You credit rating will be stuffed for 6 years in an iva??

In reality it makes little difference to the outcome of an IVA if you make ongoing payments to creditors or not. But it might possibly stop some of the phone calls and nasty letters from accumulating if you do make some form of payment whilst your IVA is in preparation.

Your credit rating won't be made any worse by not paying your creditors - as PD says, your IVA is on your credit record for 6 years, so you wouldn't be able to get any credit anyway during that time.

Thank you for the replies xxx

Hi again...

I've got someone from MelanieGiles calling me tomorrow. I've just emailed her all my account numbers, figures etc so she's got everything beforehand.

I had a call today from 1 of my creditors, to say a DD had been returned, for my loan. I need to go in tomorrow to show them my bank statements etc, to prove that I'm having financial difficulties, then they will see if they can help me. They mentioned extending my repayment period and reducing my monthly repayment.

Should I tell them I'm considering an IVA...or just deal with this one problem for now...

I'm also going to go into Barclays to see if they can help reduce my loan repayment or anything. I'm at my overdraft limit and the bills just keep rolling in [V]

Again...should I mention it to them, or not?