Calm before the storm?

[new hope]

Hi ,
Well we have filled in the forms and sent off documents for the iva on friday. We both feel alot better since i spoke to our IP a couple of weeks ago. My hubby looks so much less stressed.
We have opened our new account and have transferred our dd's and income to go in there.

Point is tomorrow our nationwide current account will soon go over the overdraft, and i am feeling rather nervous. I had spent the last 2 years nursing this account (when they put it into a reducing overdraft) which was penny sensitive; if it went over the arrangement by 1p it knocked off the arrangement and could mean several charges for any debits made till it was reinstated.
I must have paid more in interest and charges than what i actually owe!!
I can't hear the creditors ringing as i have turned off the ringer!
we have an bt internet phone which has a seperate number so only the people who matter have this. The problem is, it's abit like the enemy and not speaking to for the last 2 weeks. I feel as if their re grouping to get me!! Debt is really like a monster.
Hubby went to clinc at the hospital on Friday and hopes to return to work in 6 weeks, luckily for us his company have kept his job open since March.
One of the sticking points of the IVA was the fact he has been in and out of work. I am confident that our income will stay at the level it is now as i have the option to return fulltime.
In this climate of so many people losing jobs i know we our both lucky to have this option, i just hope the creditors will see this.
Has any one out there been in similar circumstances, with the uncertainty of income? Our IP has given us good advice warning that this could be a problem but would do all he could to help us get the IVA approved.

Any views?

New Hopex

[David Mond]

I am sure the advice given by your IP is sound and he would not have put the proposal forward on your behalf if he/she did not think it had a good chance of success.

Who is the firm you have gone with?

Good luck and I am glad the stress levels have gone down.

[new hope]

Hi David,
It was actually yourselves cleardebt!
Poor Mike was not well that day but made us feel at ease, and i talked him hourse for an hour.
New Hopex

[David Mond]

Hey - wonderful and thanks for the good words!

[size5]

Still a bit ropey if I'm honest NH, but it was a pleasure talking to you. We will know an awful lot more when your forms arrive of course, and I am sure we will talk again soon.

Voice permitting of course.

Regards.

[new hope]

hi size5,
Glad to hear your feeling better. Your voice had nearly disapeared!
The only thing i haven't returned is the house valuation,i was going to call tomorrow. I've only had a internet valuation on zoopla.
What will i need to do about this?
newhopex

[size5]

In the current market who can give a definitive answer as to the value of your house? I certainly wouldn't be confident on giving a value on my own humble abode. Have you sent in the internet valuation? If not then don't worry too much, all IP's, not just ourselves, are having to deal with a situation that, in all honesty, is the exact opposite of the situation of maybe 1 or 2 years ago.

I will confirm to you as soon as we have received your pack and we can hopefully go forward from there.

Regards.

[flumpy dog]

hey new hope glad youre ok hun-youre in good hands. just wanted to wish you luck. dont stress about creditors calling-if it gets too much-were here for you ! and free lili who posts on here-shes an expert has a wicked and very funny post on how to deal with the creditors or the slime monsters as me and her call them ! [:p]
youre amongst friends good luck n welcome x

[MelanieGiles]

A professional valuer can give a definitive answer about house values. I do not favour the use of internet based valuations, although I accept that they are permitted under the terms of the IVA protocol.

[new hope]

Thanks for your replies, we had thought about getting a local estate agent to value but they would charge and it's a cost i can do without at the moment, obviously we would have to if needed.
We had the same problem last march when we tried to value the house for a consolidation loan( which we didn't get!) all the companies came back with a different valuation,- you are right Melanie the internet valuations are so vague.
On another note, i have read some of the postings on how to deal with the creditors and it raises a smile![:D], i think some of these operators must be like the people on the horlicks advert. I know they are only doing their ob but How can they sleep?
What really winds me up is when they ask the reason for falling behind on payments everytime they ring up. Because they just can't be bothered to read the notes.
The worst for bothering me are Goldfish now barclaycard, they get the award for most persistent.
Anyway , can't hear them with the ringer off![;)]

[MelanieGiles]

All of my clients get estate agents valuations, and it is very rare to see anyone charging for this. Estate agents are desperate for work at the moment, if you indicate that you may be selling they will be like bees around a honeypot.

If you already have valuations which were carried out for the purpose of a secured loan, why not rely upon the lowest one of those. Are they in writing?

[new hope]

Hi melanie,
Unfortunatley they were not in writting and i know that the house prices have dropped significantly like most areas on our street.
Thanks for the advice about selling, something which may come in use.
new hopex

[David Mond]

As Melanie said an Internet Valuation is fine - if you can get a local estate agent to give you a written one (at no cost) all well and good - don't worry Mike will advise you.