I am so sorry that you couldn't resolve this with Payplan - hopefully you can sort something else out with another company.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi nosasani - sorry to read about the setback you have had, as Nick says, it is unfortunate. Hopefully Payplan will have done all they can to try and find a way to save the IVA but if it absolutely cannot be done by anyway, including the suggestion Melanie makes then it looks like a DMP is your way forward for now. You could then look at resubmitting an IVA in time to come or you may even be able to resubmit a new IVA application now to encompass all debts but you would need an IP willing to look at it.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Personally speaking, I would look to be submitting a new IVA very shortly as I really think nosani has been hard done by. I don't condone the fact that he took out credit when he shouldn't have done but I think it's a bit harsh that his IVA has to fail.
Just my own personal take on things.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
I'm sorry and surprised to hear of this decision Nosasani - I think it was a very harsh decision because the amount you borrowed was quite small. Im in the same boat I took out more credit whilst in an IVA - I too was honest and told my IP, and now have to wait until 16th for the decision. I am preparing myself mentally for the worst - but I hope to apply for another IVA straight away because I believe its the best plan and this time follow it to a tee.
Try and not get too overwhelmed and disheartened by it... yes its a setback but hopefully soon you will get back on track
Last edited by cherry545 on Thu Aug 04, 2011 11:04 pm, edited 1 time in total.
Im speaking to Andy Davie @ Vincent Bond he seems real nice. and thanks a lot guys, i genuinelly appreciate your kind words and taking time out to respond to my queries.
I'm looking at a DMP so we'll see. Ive submitted my income expenditure/budget to Andy, also already sent him my creditors, there addresses and the amounts. and also my employment details etc.
Andy is a smashing bloke nosani, I've met him on several occasions and he does understand things from the debt point of view as well as he did an IVA and came out the other side.
You're in good hands with VB.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sorry to take so long to get back on this one - I've been away on business for the last couple of days.
It is difficult for me to say what I would have done in these circumstances were this a client of my own - but I would certainly have called a meeting for them to consider all options regardless of the terms of the IVA. You cannot criticise Payplan for their approach which is technically correct either.
I would not let this experience put you off presenting another IVA to include the payday loan - at the end of the day it is up to creditors whether they allow this and it may still represent a better option than a DMP if you would be targeted to repay your debts over a period longer than 5 years.
