Last week I received a phone call about my Nat West credit card asking for a payment. I told them I wasn't in a position to pay and that I was considering an IVA. I've just received a letter from them requesting that I complete a financial statement. Is this common practise as I haven't been told by Egg that I have to complete one?
i had to do this by RBS credit card when i asked to make reduced payments prior to looking into an IVA. Worked out ok as they reduced my payments to £1 per month and stopped interest for 6 months. Now undertaking IVA route so not paying any crditors at the mo.
If you do decide to do IVA or DMP, tell crditors your refernce number company dealing with and a contact number and let them deal with it!
Good luck
Personally I would write back and tell them you are in the process of proposing an IVA and that proposals should be with them very soon which will include all of the information they are requiring you to provide. No real point in doing the exercise twice!
I would say it depends how far down the IVA route you are. It may help if they will reduce the payments and stop interest in the short term - whilst you get the IVA up and running.I think the process is the same for Nat West as it is with RBS.
Of course, if your IVA is going to start up sooner rather than later, I'm completely with Melanie.
For information on IVA's or the other possible solutions, these links could be useful.
**Links removed - advertising is not allowed**
Last edited by chidge on Thu Oct 08, 2009 1:07 pm, edited 1 time in total.
