IVA accepted paying 25 p in the pound

[nutz]

hello all just been reading some of the forums , i thought id tell my story

owe about £47.000 unsecured debt

with my outgoings etc i had £330 left a month so this was proposed and accepted paying 25 p in the pound for 5 years with a remorgage in the 4th year ,, vey happy as my out goings before were 1200 now they are £330 plus bills

not sure if i can put the company i used but they were brilliant if u want any info send me a msg

[MelanieGiles]

Hi nutz and welcome to the forum.

Thank you for sharing your IVA story with the forum members. It is so useful to know the details of IVAs which have been accepted - for me especially as a practicing IP!

Good luck with the arrangement for the next five years.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[aguise]

Hi nutz
Its good to hear some good stories you can name your company if you want it can help others. I am in the same position as you ,getting on well with the iva and the best decision I ever made. I think the thing with an iva is to have a realistic expenditure if so then it seems to be the make or break so many have been pushed to pay that bit more which leaves them struggling from the offset and can doom you to failure. I know the creditors will say but you borrowed the money, but some of the blame is due to their irresponsible lending ,to people they must be able to see are heading for problems.
Nice to hear all is well and by the way my compoany is Freeman Jones and they have been wonderful. They may even get a christmas card.[:D]

Ang

[Oliver]

Hi Nutz

Thanks for posting that and welcome to the forum. Feel free to relay the name of the company as people that view the forum are often looking for feedback on companies by people in IVAs.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[nutz]

hello all the company i used was clearstart ,, they were so friendly and understanding i know they make money out of you but they were really down to earth , my pride was hurt when i started the iva process as it was like admitting failure but anyone who is wondering whether to do a iva my advice would be speak to someone like clearstart they will point you in the right direction and tell you what your payments are likely to be , based on your morgage ,, bills etc i no it sounds cheesy and everyone says it but as soon as i made that phone call it was like a weight off my shoulders for the time being,, they sent paper work through which i had to fill in,,, they even arrange for one of there employees to come to my house and help me fill in the forms for no cost. i sent it off and a proposal was sent back to me to sign then the meeting was set up for the 31st may , i couldnt believe how quick and quite simple it was to set up it was so simple due to clearstart being so friendly-------DO NOT PAY ANYONE TO SET UP A IVA FOR YOU BEFORE CALLING CLEARSTART I SET UP A MEETING WITH A COMPANY IN LONDON ,, THEY WERE GOING TO CHARGE ME £1800 PLU V.A.T TO DO MY IVA AND THEY WANTED IT UPFRONTT ----AS IF I HAD £2000 LAYING AROUND IN MY POCKET also another great thing from clearstart was they gave me a direct number to a colleague who has been like a friend to me rather than a stranger and she will definatley get a thank you card as this has change my life for the good ,, since ive had money problems 99.99 % of arguement between my wife and i have be money it has effected us and when the company from london said i will have to go BANKRUPT and would lose my house my wife cried -----but it wasnt true as i now have an ive so please dont anyone talk to anyone that will charge you


the differenc ethe iva has made
before monthly outgoings per month

nationwide loan £388
nationwide c/c £220
mint c/c £150
capital one £80
egg £90
hsbc loan £210
barclay card £50
next £40
plus £3000 overdrawn
so in total about £1100 not including morgage which i didnt pay as my wife covered it gas/electric food petrol etc

my wages per month are about £1200 so as u can see i was in trouble

now thanks to clearstart my iva is £330 per month with the rest of my wages going on my morgage bills etc


im verry happy any questions please ask [:D]