60000 debt

[rksaunders]

sorry my mistake not expaining properly , i had enquired first of all through trapped .co.uk , they told me I had a good case and are going to get me to fax copie sof bills wages ect , they said i could get away with paying 200 p.c.m , as i have my childen with me now and also send proof of mother in hospital ( sectioned).And also that i would have to agree to re mortgage if poss during year 4 ie raise 14000. This would help me tremendously .
Also I have been taling to payplan , nothing yet disscussed in detal awaiting their call back of propposals.
If one fails to get iva wih one copmany does that mean thats the end of getting one at all please ?

[size5]

No it doesn't and you have actually done the right thing in talking to more than one person/organisation about this. What you must try and avoid of course is instructing 2 organisations at the same time, you need to pick the one that you feel most comfortable with.

If your IVA proposal is unsuccessful, and remember that a provider will not put one forward unless they feel it is in your best interests and that they have a good chance of acceptance, you may then have to look at a possible DMP but that in itself would not stop you looking at IVA later on if that was the right way forward for you.

I would also try and avoid anyone that asks for upfront fees, unless they are refundable in the case of rejection.

Regards.

[rksaunders]

sorry my mistake not expaining properly , i had enquired first of all through trapped .co.uk , they told me I had a good case and are going to get me to fax copie sof bills wages ect , they said i could get away with paying 200 p.c.m , as i have my childen with me now and also send proof of mother in hospital ( sectioned).And also that i would have to agree to re mortgage if poss during year 4 ie raise 14000. This would help me tremendously .
Also I have been taling to payplan , nothing yet disscussed in detal awaiting their call back of propposals.
If one fails to get iva wih one copmany does that mean thats the end of getting one at all please ?

[size5]

Hi, did you post this again by accident perhaps?

[rksaunders]

Hi yes i did, sorry .
I really dont want to close my current account .
Will i be penalise if i made my current account in back in black by transfering funds from a credit card ? will they see that i have taken funds from a card to another then applied for an iva ,its just that one of the card copmanies i spoke to recently agreed to take 50 pound s per month then this month they took the whole lot arounf 350 pond s, left me with nothing for rest of month . I ahvent yet filled in forms ect the debt amount would still remain the same .

[MelanieGiles]

I would also avoid companies who tell you that you can get away with things! They might think that they are being clever, but you need to give your IVA the best shot if you have decided this is the right way forward for you.

[rksaunders]

yes dont fel happy about it , your right .

[rksaunders]

Just been reading through the papers for application for Iva ...Is the hearing published in local paper ? also wording is incorect ie they have put down i share equity with ex wife ..its my sister i share it with . Should I telllthem or does it not matter?
Seems very daunting so much paperwork ...and for last night had could nt sleepp at all ..guessed i was ok , but obviuosly not .

[size5]

There is no direct publication of an IVA, but your name will appear on the Insolvency Register.

I expect that you may have a standard form as regards equity so make the correction on the paperwork before you send it back just to avoid any chance of any confusion.

Regards.

[rksaunders]

hi faxed off all doc 'mnts , just got drving license to fax off , will they check and make sure all is ok before forwarding or arranging a meeting ? iva rep did say looks all ok , just worried , only have one chance , also he value dmy proprty at arounf 250k ,but i told himm i v seen in estate agents values are around 220-30 mark , he said its k to forward data but would nt make that much difference , also he has stated to re mortgate in yr4 for 14000 , is this set in stone ? ie what if propery price sgo up ? thanks

[rksaunders]

Well now have creditors meeting date confirmed as 29th aug . In paperwork it states a 35% return to creditors as oppose dto 25% if made BR.Also a euity payment of 16800 as opposed to 14000 as previously informed , this could be due to actual debt being higher ? Does the debt company try and offer a better return ie close to 35% in order to get a successfull iva acceptance , either way I just hope now it does get accepted , seems like along wait , just like everyone else i guess , plays on my mind every night now .Iva put forward by MD&C.

[plasticdaft]

The better return the better chance of accpetance but it is all relative to what the individual can afford. 35p/£ for you ma be accepted but someone else may be accepted at 22p/£ if thats the best they can offer.

[rksaunders]

ok thanks , but what if my ougoings or income reduces during term will i still have to pay some of 179 as stated in agreement ? thanks

[MelanieGiles]

If you have only faxed off your documents today to this firm, how on earth can they be holding a creditors meeting on 29 August? That would mean that your proposals would have to be prepared, signed and issued all today to give the very bare notice required to creditors. Are you sure that you are doing the right thing as you seem to have many questions which I would not expect to be unanswered at this stage?

[rksaunders]

Hi Melanie , yes have confirmed date of meeting as 29th aug , have hard copies of details ect , they have also told me all creditors have been sent copies of ect .