NATWEST

[onlypassion]

Hi, can anyone tell me if they know the natwest requirements with regards to an iva. I owe them around 21k - £4k off a loan taken 3 year ago which payments are up to date on, about 4k on an overdraft which goes upm and down as this is my current account I use at present and £13k on a loan I took out 2 months ago stupidly thinking it would sort this mess by consolidating a few things. I am really worried my iva will be declined because of the recent natwest loan. Has anyone had any experiences with natwest. My proposed repayment will be approx 47p/£.

thanks everyone

[Skippy]

Natwest were my main creditor - I owed them c£28k. They were fine with me - polite when they contacted me (only by letter) and voted to accept my IVA.

Good luck with your IVA, and keep posting to let us know how you get on.

Three down, fifty seven to go until freedom!

[MelanieGiles]

Onlypassion

I am sure that this will fit NatWest's current criteria. NatWest generally have a minimum 25p in the £ dividend requirement, but of course you must offer as much as you can afford. I generally find NatWest one of the most commerical creditors and enjoy a good working relationship with them and their representatives. They have a specialist insolvency department in Telford staffed by people who understand IVAs and know what they are talking about. And with a dividend of 47p in the £ - that is about 16p in the £ more than current national average, so I would think you have a good chance. What does your IP think? Presumably the same as me or he would not be putting it forward for you.

Good luck - do you have a date for the creditors meeting yet?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[scooby]

Hi NAT WEST was one of my cresitors them and RBS were the only creditors who actually voted in my IVA both voting yes.

Scooby

[Oliver]

I agree with Melanie that Nat West are receptive to IVA proposals and will seek a minimum of 25p in the £. As Melanie has already stated, although many creditors offer a policy of acceptance of a minimum dividend of 25p in the £ if the creditors feel a client can / should pay more they will require an increased monthly payment before they accept.



Best Regards
Oliver

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

[scooby]

Hi I forgot to say my IVA was accepted at 25p/&


Scooby#