www.iva.co.uk

Is anyone aware of the rejection rates of Lloyds TSB? The majority of our debt is with them, so we are hoping that their rejection rates are fairly low.

Any genuine facts would be appreciated.

Many thanks

As a percentage, how much of your debt is with Lloyds?

Regards.

Hi there,

Around 62% of our debts are with Lloyds TSB (under the umbrella of a large, unsecured personal loan and 2 small overdrafts).

Does this sound problemmatic to you?

Many thanks[?]

Lloyds would generally reject if the debts with them get to around 75%. As it is they would have the majority vote of course but you need to speak to a professional directly. You can visit www.iva.com and have a look round there at reviews etc. Try and speak to 2 or 3 different providers to get a feel of things and go from there.

Regards.

That doesn't sound too encouraging then!
The loan was used to consolidate exisitng debts with Lloyds, that had been being paid off for quite some time prior to us taking out the consolidation loan. Do you think that this would make a difference?

Many thanks

we had lloyds tsb and it was majotiry of hubbys but don't think was that high a percentage.. ours was approved

I find Lloyds will generally accept most IVA proposals where they are owed less than 75% of the aggregate debt. You do however need to make sure that you are putting the best offer on the table to ensure the best chances of success.

I had two loans, one credit card and current account with an overdraft with LTSB,
came to just over half my total debt and they voted yes to my proposals with no mods asked for.

No, sam_s, I don't think it would make any real difference that you have taken a loan out to cover debts that were already with them.

Regards.

Thank you very much to all who have replied, I really do appreciate your contributions.

I just really do hope that they will accept our proposal. I take it that it bodes well if you ahve always made your payments, both regularly and on time?

Many thanks all

I have just worked out that our Lloyds debts account for 63% of our total debts.
So, based on the advice given I am hopeful of a reasonable outcome.

Can anyone else share their experiences with considerable Lloyds debts and their IVA arrangements please?
Many thanks

Hi, The majority of my debt (£35k) was with Lloyds TSB - they didn't even bother voting in my IVA!

I had a mere £2,100 on a credit card, my third smallest creditor, and they voted no for me!

i would think before long the government will have to step in and sort the 75% clause because the whole country will be going BR

The new SIVA's are supposed to be coming out soon, and that will be 50% not 75%.