www.iva.co.uk

Hello everyone.. it's my first post, so please be gentle
I have finally seen the light and decided to do something about my situation.
My debts were,for the vast majority, built up whilst in a very controlling and abusive relationship (although we are now safe,have been a single parent for last 5 years, I find it extremely hard to trust people)
I was sick of robbing Peter to pay Paul, and decided to take control.
I have gone down the route of applying for an IVA (after having some good and helpful advice from Credit Fix)

My debts are as follows
Mbna £7500
Lendable £9985
NatWest £8900
Barclaycard £1450
JD Williams £300
Very £95

Can anyone give me any rays of hope that the companies above will accept the iva (my payment will be £113 a month)
I am so, so, scared.. I just want to have the iva in place (creditors meeting 10/09/2020, my birthday )
and be able to breathe easy again, sleep without lying awake worrying, and not have the fear of constantly looking over my shoulder and fearing a knock at the door..

My IP has said that they wouldn't put the proposal forward if they didn't think it would succeed.. is this correct?

I now have a strict budget in place (drawn up with some help from the IP advisor), only pay in cash, leave my card at home, and have cancelled all of my creditors DD's on advice..
This will enable me to save some money, badly needed, as I have NEVER had the chance to do this..

So sorry for the long post (used to apologising over stupid things all the time, a habit I need to break)

Thanksyou

Hi,

We have all been where you are so know how you are feeling. CF would not put your offer forward if they didn't think it would be accepted. It is a stressful time but you are doing the right thing. Have you changed your bank account - a good idea if they are a creditor (I notice Nat West are one of yours).

It won't be long now! We are here for you.

Yes I have changed my bank account, currently with Lloyds and have one at Nationwide now..
I have a Halifax account that the child maintenance gets paid into, will this be safe?
I just want iva payment to be in place and feel scared of one less thing

MBNA are part of the Lloyds Banking group, as are Halifax so it's possible you may wish to avoid those accounts and stick with the Nationwide one, just to be sure.

They might not have an issue with it, but why risk it.

Congratulations on taking control, a brave first step! I know it's scary but you should be proud!

Like Kallis3 said, CF wouldn't put forward something they didn't think had a reasonable chance of success, but you never know what creditors will do. What dividend rate has been proposed?

I'm not sure how Lendable generally vote, but Evolve servicing will vote on NatWests behalf and are generally reasonable, Watch Portfolio Management will vote on the MBNA and Barclaycard and are also reasonable. Provided the offer is decent, you should be okay, with any luck!

Have every confidence that this will be accepted. As others have said your IP would not have prepared this and submitted it if they felt it would not be approved.

Tomorrow will be the start of a new chapter in your life I am sure. There will be times in this chapter when you feel alone and need support- remember we are here for you and will help you through it.

Let us know the outcome tomorrow x

I would gt your child maintenance paid across to Nationwide to be on the safe side.

I can only echo the advice given already -- and .... we are always gentle

Hi,
This is a scary moment I remember feeling the way you did a year ago and I was so worried and panicked I couldn’t get my debts under control without Creditfix’s help and they approved mine.. I have every faith it will be approved as much as you can’t switch off till you know that answer yes or no do try keep yourself busy.
A must as you have done is change bank accounts I had all my debts with NatWest so changed to Barclays. Very good advice is always deal in cash never use the card I leave all the direct debit money in the account and take out the rest in cash and have envelopes named with what it’s for example gas,electric,food shop etc.. I just had my first review done today and they called me back as I had changes of circumstances and Creditfix were brilliant down the phone and just wanted to help so I didn’t struggle. Being in a Iva is life changing I’ve only done a year and I’ve learnt a lot about money and how expensive material things actually don’t matter and how you feel more grateful and proud to be paying for items with money that’s actually yours not on the credit card etc..
I hope you get approved keep us updated as I’m just rambling

Hello
Thankyou everyone for the kind advice..
I am going to implement the 'envelope' method too., Jessie
Leave the money for direct debits, that's it, and pay for everything cash..
I can't wait for the 10th, won't be able to relax then..

I think it works out at I am offering 24p in the pound for the creditors.. (that's what I've worked it out to)

I will keep everyone updated, thankyou for your kindness, just can't wait for the 10th

Tue Aug 25, 2020 10:32 pmValeria49 wrote:

Yes I have changed my bank account, currently with Lloyds and have one at Nationwide now..

Hello valeria just a quick one regarding Lloyds be careful with them as they will close your bank when they find out about your Iva, Halifax/Lloyd’s,

I’m currently with nationwide basic account no problems
Lee

I had iva and mbna was one of them my acc now is with halifax no issue
Natwest and bc no issues with iva.