www.iva.co.uk

Hello all, i am about to start the process of an Iva, I have around 10.5k on a Loan with Barclays partner finance which i thought was secured on the car but now im not sure as the garage sorted it out, saying the purpose of the loan was for a car! would i get to keep car is my first question? I have about 9k on credit cards which im only just paying the interest on, would you recommend an IVA, i have a debtfreedirect advisor coming to see me tomorrow! Any comments welcome

Hi Charlotte,

Bit of a duplicate thread but I do recommend that you speak to a couple of other companies via www.iva.com before making a decision as to who to go with.

You have to stick with this company for 5/6 years so make sure you are happy with them.

Hi Charlotte, My advice is avoid Grant Thornton. I'm sure Melanie on here will point you in the right direction as she seems to be very genuine and helpfull. Good luck to you.

Hi Charlotte.I would do as Niobe says. When I was starting I was in such a state that I jumped at the first company I came across. Luckily they have been really good, helping me through a long illness and a cut in pay. But when I eventually found this site I realised how lucky I had been. As to entering an iva, it was the best thing my husband and I could have done. It has been hard and there have been some very low times but when I think of the alternatives and the fact that we would not be any where near clearing our debts without the iva I am so pleased (and proud) that we have done it. Good luck to you.

We were allowed to keep our cars as they were needed for our jobs and no finance on them but we had a caravan on finance which we were allowed to keep until the end of our iva and then we had to sell it and hand over the £3000 as part of our iva

Yes, even if the visit goes well, take it as a starting point. When you chat to a couple of other companies you will have a better idea of what to ask. You need to feel comfortable, not just with this visitor, but with the company as a whole. You are signing up for 5 or 6 years and, unless they sell your case on, you are stuck with your first choice.

Even if you end up going back to the first one, squeeze a few melons before making your choice

Go with a company who makes you feel comfortable! Its a long relationship! If you are unsure ask and if you feel lost this forum will become a lifeline

Please visit the link posted above and speak to a few companies before making a choice.

Hi and welcome to the forum. Good luck with whatever path you choose to becomming debt free.

Charlotte......niobe's advice and link to the IVA.com website will provid you with good starting points....as others have said be comfortable with your IP as you will be having a working relationship for next five or so years !

I hope the visit went well for you Charlotte and that you are one stage closer to making a decision about sorting out your finances. The car loan can be included into the IVA if it is an unsecured loan, and this will not affect ownership of the vehicle. If it is a HP agreement, then you will need to maintain ongoing payments with the agreement of the lender.

Charlotte cant really add to what others have said - apart from look around for a new bank account - certainly if your either with HSBC/First Direct or you have debt with your existing bank. its never to early to start looking for this - and who knows you may still be be able to access a full account elsewhere