I applied for an IVA through Vincent Bond back in June/July this year, which was refused by one of my major creditors because they said it was too soon from having the debt taken out to IVA (Nationwide - it had been 4 months). I have since had help from stepchange and have put in for a DMP, Nationwide are the only ones who will not freeze my interest. When would be the best time to re-apply for an IVA, otherwise at my current payment level, it will take 13 years?
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Michael Peoples
No harm in trying now with any IP. Which firm did you use the first time as you do not need to use them again.
I tried through vincent bond who used Knightsbridge, but Nationwide would not accept, they make up 30% of the debt. They are not even stopping interest on my loan, where as all of my other creditors are. I am just about to complete the form on your website to send off
As Foggy says - is there any reason why you could not choose bankruptcy?
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
Hopefully we are able to help whether it is bankruptcy or another IVA. It does seem harsh that Nationwide rejected and then refused to stop interest so I am sure there is a better option than your current DMP.
It was just a question as you had not stated you owned your own property.
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
Owning a property does not necessarily mean you shouldn't go Bankrupt if you have negative or nominal interest in the property it is highly likely you will keep it in BKY.
