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Hi Eveyone

I posted yesterday about my creditors and what experiences other people had with them. When I spoke with an IP company I mentioned I had a 'Together Mortgage' with Northern Rock which included an unsecured loan. I was under the impression that this would not be included in the IVA and when the forms were sent to me to complete did not have NR on.
They are not my main creditor - probably about 13%

Can anyone help ?

Yes - I am finding that Northern Rock will consider IVA proposals where there are Together mortgages, and I have just got three accepted in the last month. Also as their debt is only 13% of your aggregate debt, any rejection vote from them can probably be outvoted by the supportive votes of your other creditors. Why has your IP not included this debt? You need to be careful to ensure you are making a true declaration of your position, and that no debts are being left out or creditors treated preferentially.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Are you saying that nothing for NR is included in the creditors list? If so, that would be wrong because the unsecured element should be included.

You should speak to the IP to draw attention to this. It's just possible that this isn't a mistake but very unlikely.

I'd be interested to hear what the outcome is.

Hi
Surely some IPs are not leaving NR unsecured loans "out" because of their voting history[rejection]so as to have a better chance that the IVA is accepted ??
Must be a mistake
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

I very much hope not Andy.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk