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Posted: Sat Apr 11, 2015 10:33 pm
by Elisha.35
which payday loan companies can be covered by an IVA?
Posted: Sun Apr 12, 2015 7:13 am
by luluj
Welcome Elisha.
Payday loans are not suggested as a way forward whilst in an iva.
If you are contemplating these I would suggest your income and expenditure has not been set correctly and needs to be reviewed with your IP.
Posted: Sun Apr 12, 2015 9:36 am
by No_Money
Are you looking into an iva and have Payday loans and worried they will not agree?
Posted: Sun Apr 12, 2015 10:01 am
by Foggy
As long as the loans are not secured they can be included, but the lenders are, of course, not obliged to agree unless out voted by other creditors.
Some of these companies now offer loans if you can offer a guarantor. If you have one of these the company can pursue the guarantor for the debt even if it is in your IVA.
Posted: Sun Apr 12, 2015 10:17 am
by lifenoteasy
They have just changed who may be eligible for a debt relief order so also look at that.
Posted: Sun Apr 12, 2015 10:19 am
by Foggy
Good point Lifenoteasy -- they have also increased the amount of debt eligible for relief.
Posted: Sun Apr 12, 2015 10:44 am
by lifenoteasy