meeting, 29th April at 12:00

[clive.g]

Hi, I have just recently applied for an Iva through an advisor recommending it to me.. When the meeting or the iva goes into talking to my creditors do they go on the reason for how I got into dept? Like for example if its over spending and high interst on credit cards causing most of the problem would that effect the outcome?

I have four loans with barclays, 1 with halifax and a credit card outstanding payment with capital one and another with a finance company.. It also mentions that with an iva to be accepted you have to get 75% of votes... Would that mean barclays as I have four loans with them count as different individual votes or would they count as one? Cheers from Clive

[pm5]

Hi Clive, when i proposed my IVA i basically wrote down reasons why i got into so much debt, the best way is to be honest with them & the main thing is they will probably be pleased that you want to address the issue.
As for the query on Barclays as far as i am aware whether you have one debt or several with them only counts as one as a whole & if Barclays are your biggest creditor you wuold need them on your side when it comes to votes.

[clive.g]

Thanks for your reply, I was thinking the same regarding to barclays being my biggest creditor, That they would be the main creditor for my case.. I think that i have metioned on my Iva proposel the best that i can about my debt situation.. I will just have to see what the outcome will be when the time comes.. I have a dept of £15,000 in the agreement sent for myself paying £211 each month because it is not soo high as some debts others might have would it make it easier to be accepted onto an iva plan? I'm Just really hopefull that it is accepted as others will know with debt that it is a really stressful situation and alot of us wish that the time could be turned back.. But I have learnt that Credit cards are not a good idea and to stay away.. Its made me respect money.. Hopefully when my case goes to be put through they will put this into consideration..

[pm5]

I am sure your IP would'nt put your proposal through if he/she thought it would fail so try to look on the bright side.
I know what you mean about the strees but believe me once your proposal is accepted then the strain being lifted is second to none.

[clive.g]

Thanks for the advice.. I do hope that the proposal is accepted because it really is a stressful time..

[Sarah]

Hi Clive

Just to let you know Barclays were by far my biggest creditor and mine was just reckless spending and mine was approved with no modifications. I hope this helps.

[clive.g]

Really Sarah? Well thanks for letting me know that info.. It kinda rests my mind a tiny bit! Ive just found out my meeting is arranged for the 29th April at 12:00 - 1.00 So not long now.. Fingers crossed.. Thanks for that helpful advice

[Sarah]

No problem at all good luck!

[clive.g]

I was also wondering if anyone could tell me, When my Iva proposal is being looked at for approval, Do they also look at my credit report rating / file atall??

[lily]

Hi Clive

I dont think you will need to worry about your credit rating for your IVA, since you need to be insolvent to propose one. I mainly wanted to say, please make sure you understand everything before you agree to anything and be sure you are happy with the company you have been advised of, there are some not so good companies out there. ~This is one of the most important decisions of your life and it is worth phoning a few companies to get a feel for what should happen. It is so easy to want to sort it yesterday as debt==== stress but do take your time so that you go into it with your eyes fully open.

www.iva.com have a list of companies and ratings by users.

Good luck with everything and ask if there are any more questions.

[clive.g]

Hi, Thanks for your responce lily.. I have really looked into an iva with alot of thought, That is why i have deciced to go through with it and my meeting as metioned is very soon..I have to say it's just fantastic that this kinda site for many people is available to help out others with the same problems.. I just wanted to clear a few things over and now i feel i understand what is involed totally now.. Thank you and we shall see how the 29th goes i will keep you updated..

[lily]

Thats great Clive, glad you are getting so close, must be a nervous time, good luck.

[debbiw]

Good Luck Clive, the 29th is my husbands birthday, so I've got a good feeling about your meeting x Let us know the outcome x

[aguise]

All the best for the 29th Clive, try not to stress too much though I know it is difficult not to. You are doing your best and that is all you can do.

Ang

[clive.g]

Thanks for all your support i shall let you know the outcome.. Very nervous i have to say.. Just trying to occupy my mind on other things.. Does anyone know if my creditors have the right to contact my place of work? I only ask as barclays contact me today asking why i had not paid there payments and i explained because im going through an iva.. The proposel has been sent to them and my other creditors and ive been told they will be recievd soon so that should not be a problem but he/barcalys then asked me for my works number do you know why? Is it because of back up if something goes wrong and im lying?? Which i am not..

Clive

Also once again thanks for the support it is much appricaited.. much love xx