Considering IVA

[wgwatkin]

I am considering an IVA but a bit concerned as my main creditor id Natwest with overdarafts of approx. 4200 and loan balance of approx. 9500 - has anybody had this bank as a creditor and were there any problems

[rachellxx39]

My husband had 3 debts with Natwest ( 1.loan for £23500 2. credit card for £3000 and an overdraft for £300) Natwest voted on these debts but they wanted an increase in iva payment of £30 which we agreed to.They voted yes and his iva was approved.

[carlmcmullen]

Providing they dont have more than 75% of your total debt thenNatwest are very good and understanding about IVA's - they have recently removed there minimum dividend rates of 25p in the £ and now accept best offer.

Providing you are making a sensible offer and your I&E are both acceptable and justified then you wont have a problem.

[wgwatkin]

Thanks - i tink that is my main worry as they have been a good bank

[rachellxx39]

CarlmcMullen,In my hubbys case they did have more than 75 % of his total debt.

[wgwatkin]

Do all debts have to be given to an advisor when enquiring about an IVA as i have few extrenely small ones which i could pay in full over the next couple of months

[aguise]

Hi there and welcome . Yes even the small debts. Paying these could be seen as preferential treatment.

Ang

[rachellxx39]

I had some small debts too but i had to include everything in my iva proposal.

[size5]

Different point.

Carl, looked at your profile and noticed you worked for W3.

Did you ever work with Nicola?

[debbie.s]

My husband had two credit cards with nat west totalling £21,000 which was 34% of his total debt and they voted in favour at 31p in £.
He had been with them for over 20yrs.

[wgwatkin]

Thanks - much better chatting to people who know abou this as websites don't give too much info - am expecting a phone call tomorrow to discuss so better get prepeared

[wgwatkin]

Different point.

Carl, looked at your profile and noticed you worked for W3.

Did you ever work with Nicola?

I never worked for W3

[rachellxx39]

Good Luck.

[wgwatkin]

Thank You

[carlmcmullen]

Worked with two Nicolas whilst there

One still works there, and one moved on to the CAB