according to my credit ref report i have 16500 pounds of debt i was going to do a iva but after contacting one of my creditors the fig ure he gave me in writing makes me 3000 under the 15000 limit how do i proceed the iva company checked my credit report and said i was over the 15000 im confused
Could it be that the creditor has made you a "short settlement" offer? That is to say the creditor is willing to take a lesser amount in return for getting it all at once, but if not then the original balance still stands.
It would be unusual for an IVA company to directly check a credit report, balances are normally established by you sending in all relevant documentation, such as statements, and if further info is needed then maybe talking to the creditor(s) directly if necessary.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Hi Jim
As size5 said it may be a settlement figure that was provided to you which will be less then the actual amount you owe.
On a separate note and apologies for going off the subject but I would like to say welcome back to size5. Its good to see you back and under the circumstances, I hope everything is going okay with you.
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 mike i was in your neck of the woods over the weekend,went to watch the boro play preston, stopped in machester had a great weekend.but i can still hardly speak shouting at the ref.lost me voice.its either that or bird flue,as i did end up in the BIRDCAGE.[:)]
Last edited by MRBLUESKY on Mon Oct 26, 2009 10:35 pm, edited 1 time in total.
