Posted: Fri Jun 20, 2008 7:15 pm
Hi all
Been looking through all the forums with interest and thought it was time i posted.
I have just sent off all the paper work to start the process of an IVA.up . Although struggling for a while redundancy last year resulting in a lower paid job took its toll.
Between me and my OH we have approx 45k of debt. We shall be putting an offer on the table somewhere in the region of £500 per month. HSBC is our largest creditor-owing in excess of 27k, it is understood these need to say yes for the IVA to be approved.they have been really good over the last couple of years with reduction in payments etc -although the length of the debt time going up significantly.
I have concerns as to weather the IVA will be approved for various reasons just like everyone else. mainly due to both starting new jobs within the last 2-3 months. Will this have a negative effect?
Up to now and for the past 7 months we have been in a DMP which isnt really working as one or 2 of the creditors are not happy with the amount they are getting and interest is still being piled on, Some payments are less than the charges they are adding each month. Currently the DMP will take 14 years, but more and more interest will get added.
I dont know how long it will be before i here from the IP etc, we couldnt even provide some of the info as a few statements and that have been thrown, some by mistake and some because i was just 2 scared to open them.
Well done to everyone for trying to sort there debt problems out
Been looking through all the forums with interest and thought it was time i posted.
I have just sent off all the paper work to start the process of an IVA.up . Although struggling for a while redundancy last year resulting in a lower paid job took its toll.
Between me and my OH we have approx 45k of debt. We shall be putting an offer on the table somewhere in the region of £500 per month. HSBC is our largest creditor-owing in excess of 27k, it is understood these need to say yes for the IVA to be approved.they have been really good over the last couple of years with reduction in payments etc -although the length of the debt time going up significantly.
I have concerns as to weather the IVA will be approved for various reasons just like everyone else. mainly due to both starting new jobs within the last 2-3 months. Will this have a negative effect?
Up to now and for the past 7 months we have been in a DMP which isnt really working as one or 2 of the creditors are not happy with the amount they are getting and interest is still being piled on, Some payments are less than the charges they are adding each month. Currently the DMP will take 14 years, but more and more interest will get added.
I dont know how long it will be before i here from the IP etc, we couldnt even provide some of the info as a few statements and that have been thrown, some by mistake and some because i was just 2 scared to open them.
Well done to everyone for trying to sort there debt problems out