aaaaghhhh northern rock!

[anais743]

I have spoken with payplan today and they wont put my IVA forward because 55% of my debt is to NR.

They said I have a healthy 40p in the pound to offer but would not even consider approaching NR as they always say no. This firm do not ask for any up front fees so have said it would be £1000 down the drain for them to propose this and get the answer they expect(at least there being honest)[:(]

any thoughts anyone?

Im depressed now

[aguise]

I would speak to another couple of firms, try Melanie, I dont think they turn all down they just are very particular in those they accept it has to be the best offer for them.

Ang

[ianmillington]

I think they are right. At this point I think you would be probably wasting your money putting an IVA proposal together. They will want to secure the debt, particularly with their current situation - they won't want to write any of the debt off.

So I can get things into perspective, what are your total creditors and how much do you owe NR?

Ian

[anais743]

owe £38k i total £20k to NR, the rest split between A&L,lloyds and Barclaycard.

Melanies team are aslo going to have a look when she returns from hols but Im not holding out much hope.

Trust me not to only have debt but the wrong sort of debt!!!!!


My only hope is a buy out of NR soon and hopefully then their stance will change.

[anais743]

how about I get a new loan to pay of helf the NR debt making their percentage les than 25%?!!!!!!!!

[Jo Rolland]

No no no. I am hoping that was tongue in cheek?

[anais743]

yes it was,but did cross my mind !

[pbeck]

I'm happy to look at your proposal, even if NR is more than half the debt, but take note, it really does have to be your best shot, NR are funny on these things.

[anais743]

well i arent planning on going in with a daft offer! Just looked at my figures and I would be paying back 57p in the pound minus IP fees of course on the figures I have had worked out today.

PBECK why would you be happy to look at my proposal if payplan say its a no go (not complaining of course)[;)]

regards

[Jo Rolland]

NR do not vote a blanket no here in Scotland and I know that this is also the case with IVA's, so you would be best speaking to someone else before deciding on which way to proceed.

[pbeck]

I've managed to get proposals through NR, so it's not a guaranteed no, as I'm a sole practitioner and don't have staff or offices to pay for, all I'm gambling is my own time.

[anais743]

Has anyother IP's posting on here had any joy with NR in the current climate?

[Adam Davies]

Hi
Melanie has but she's on holiday.
I would take Philip up on his offer,you have nothing to lose
Regards

[anais743]

ok thanks for the advice. I will test the water with a few more IP's when Im off work next week

[petes39]

Hi anais I had NR and they were a large part of my debt about 30% they rejected me last year however accepted me last week and it wasn`t as good an offer???? FYI