2nd IVA?

[twinmommy81]

Hi, i've had some lovely advice from this forum in the past, so it was my first place to come to ask this question.
I was in an IVA from May 2005 - May 2010, and was successfully completed, even though my husbands income was included in it, the iva was in my name as the debts were in my name.

Unfortunately, nearly 3 years on, we have found ourselves in a similar situation to before, even after promising ourselves we wouldn't be, but after some personal tragedy and then having two young children, things have just spiralled out of control

The main problem is Provident Loans, we fell into the "pay off this loan with another" trap, and with another few smaller debts we are back to square one where we cant cope.

My first question is, am i able to enter into a 2nd IVA? even if its now a joint one with my husband?
Also, i have been paying into a DMP successfully for the last year (for the smaller debts) can i include this in the iva or should i continue with them as it is?
Also, can provident loans be included in an IVA?

Sorry for the questions, i have more about the iva itself, but wanted to check whether this is actually an option for us? we meet the criteria.

[plasticdaft]

A 2nd iva is possibly an option for you. All unsecured debt will be included.

Debt happens for all sorts of reasons and creditors understand this.

Paul

[ginger323232]

All you debt should be included in an IVA - even the small loans.

A lot has changed since your last IVA (equity release/PPIs etc) - so ring around a few companies and look at some comment about companies on here and discuss all you options

[twinmommy81]

hi, my last IVA was with Payplan, are they still a good company to go with? i always found them good, apart from the lengthy journey when it was first set up.

[in-a-mess-indeed]

Take a look a http://www.iva.com and contact 3 or so companies to get some good advise, you will see how IVA companies are rated from peoples experinces with those IP's and companies, good luck in your search and I hope all goes well. Keep us informed on how you get on.

[plasticdaft]

Payplan are a large firn dealing with lots of ivas so many would argue they lack a personal touch/feeling. Contact a few firms to give yourself an idea but many companies appear to change for the worst after you have signed up!!

Paul

[Shining]

Hi I'm sure another IVA is possible, worth a look at the link above and talking to 2 or 3.

[twinmommy81]

Hi, i have now been told by the provident agent via text, that if i go into a debt plan, i could be committing fraud for having loans from them in sept/oct last year as there have been no sudden change in circs i.e redundancy etc.
Is she just trying to scare me? or is this true? we were only ever asked for income details the very first time we took a loan with them.

[in-a-mess-indeed]

My Train of thought is if your insolvant then your insolvant, i think is just scare tactics, perhaps others could confirm?

We took out a loan to try and help just before our IVA before we realised it was just adding to our troubles, they are included within the IVA and voted yes to the IVA.

[Foggy]

Hi. Yes you can enter another IVA and all unsecured lending will be included, as well as those in the DMP, which will cease. Provident can be included --- WILL be included and the agent who contacted you is just using scare tactics. Many of us used credit up until we decided to take action.

[sponge]

May I ask how much debt you have racked up in the following 36 months from your last IVA? Did you obtain credit easily following your first IVA. I’ve asked before if people end up with a second IVA and wonder if BR would be a better option 2nd time around?

By the way I’m not judging you in any shape or form I interested in the process. For me I just couldn’t do another six year stint, but only say if comfortable with it. Good luck in either case

[Niobe]

twinmummy - please speak to another IP company via www.iva.com and don't listen to what provident tell you. They are just trying to get you to cough up.

[twinmommy81]

Hi just to update on a couple of things, after reading up on the different companies on the website recommended, i contacted Melanie Giles and had a quick phone chat with her office, and i've got a proper phone appointment with them tomorrow morning.
Our debt is around the 20k mark, like i said, things spiralled again, and we were/are grieving for our daughter that passed away, things just get on top of you, and we ended up borrowing more to cover basic expenditure , then we found out were expecting twins, and along comes double the cost of everything!

[ginger323232]

TwinMommey - well done - your with a good company , most importantly one that listens..Dont forget now is time to start looking about switching bank account etc if you need to

[Foggy]

Wow -- twins ! Twice the cost in one hit !!!

You have chosen wisely, Grasshopper. Mel's team will make sure you are well looked after.