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by rstewa
Tue Oct 09, 2007 11:31 am
Forum: postbag for october
Topic: Creditors meeting setup
Replies: 5
Views: 1177

All, I was last on here sometime ago enquiring about what potentially I could do in order to pay of my debt. I had been on a DMP for 2 years and my largest creditors (47% of debt) refused to accept the lower repayment I had been offering. The good news is that I have signed my IVA proposal and my cr...
by rstewa
Thu Sep 20, 2007 1:57 pm
Forum: postbag for september
Topic: IVA potential here
Replies: 6
Views: 1738

Hello I have an update on my situation here. My IVA proposal will include a remortgage in 4th year so that it will boost the offer to 49p in the pound. One good thing also is my debt stands at 63,800 now instead of 64,200 a small decrease but every little helps. just waiting for date on creditors me...
by rstewa
Thu Aug 30, 2007 12:32 am
Forum: postbag for september
Topic: IVA potential here
Replies: 6
Views: 1738

yes the property is jointly owned. they arent charging me if the proposal is not accepted. my case worker is sending out a document regarding payment etc which i should receive later today or tomorrow. i have emailed her in any case questioning the calculation and other bits such as equity release e...
by rstewa
Thu Aug 30, 2007 12:15 am
Forum: postbag for september
Topic: IVA potential here
Replies: 6
Views: 1738

yes i am puzzled. the payments would be stepped due to my wife being on maternity leave from december. 620 for 2 months 641 for 3 months 61 for 6 months 400 for 49 months of the original loans taken out (25k and 17k) i have made payments totalling, 7400 for NR loan and around 8000 for NW loan. the 6...
by rstewa
Wed Aug 29, 2007 9:43 pm
Forum: postbag for september
Topic: IVA potential here
Replies: 6
Views: 1738

hello I posted earlier regarding setting up an IVA based on 64k of debt (2 loans and 3 credit cards). This figure included all interest left payable on the loans e.g. main creditor is NR Loan of 25k taken out 3 years ago (120 months) and 17k loan with Natwest taken out 4 years ago (72 months) with a...
by rstewa
Mon Aug 20, 2007 9:28 am
Forum: the hot hot IVA topics in 2007, 20 replies plus
Topic: have been on a DMP now for around 2 years
Replies: 44
Views: 5952

Melanie

I must be frank in that the IP doesnt have all information just yet. I am due to send this out tonight.

I'm getting scared now as I dont want NR to proceed with the proposed charging order if they cannot get the money this month.

feeling rather down
by rstewa
Mon Aug 20, 2007 9:21 am
Forum: the hot hot IVA topics in 2007, 20 replies plus
Topic: have been on a DMP now for around 2 years
Replies: 44
Views: 5952

hello I think i did a stupid thing this morning and tried to extend my secured loan with firstplus to cover the outstanding unsecured loans i have and was rejected due to credit score. This is not surprising I guess but now i am down that potentially no-one will lend me enough money to cover the deb...
by rstewa
Fri Aug 17, 2007 9:30 pm
Forum: the hot hot IVA topics in 2007, 20 replies plus
Topic: have been on a DMP now for around 2 years
Replies: 44
Views: 5952

thanks Melanie

I think i will contact my mortgage provider first then go somewhere else if they reject me.

can you recommend anyone else who it might be worth approaching with regard to re-mortgage?

thanks
by rstewa
Fri Aug 17, 2007 9:20 pm
Forum: the hot hot IVA topics in 2007, 20 replies plus
Topic: have been on a DMP now for around 2 years
Replies: 44
Views: 5952

Only thing is I have just moved onto a new 2 year fixed rate mortgage in April with YBS (been with them for 3 years) although i didnt borrow any additional capital.

How will my DMP affect my ability to borrow?

thanks

richard
by rstewa
Fri Aug 17, 2007 9:17 pm
Forum: the hot hot IVA topics in 2007, 20 replies plus
Topic: have been on a DMP now for around 2 years
Replies: 44
Views: 5952

Yes I agree with you on this I just did a quick calculation on YBS website based on the following. existing mortgage - 168,000 first plus loan - 27,000-30,000 settlement. But I have no idea on my creditors and how much they would except on full and final settlements. For example back in January, Nat...
by rstewa
Fri Aug 17, 2007 8:59 pm
Forum: the hot hot IVA topics in 2007, 20 replies plus
Topic: have been on a DMP now for around 2 years
Replies: 44
Views: 5952

thanks Melanie I have started the process with w3debtsolutions.co.uk They have been very helpful and have said i will pay nothing if my IVA is not accepted. I intend to post everything on monday. I will contact them in the meantime with regard to this letter. The thing that puts me off is that I hav...
by rstewa
Fri Aug 17, 2007 8:49 pm
Forum: the hot hot IVA topics in 2007, 20 replies plus
Topic: have been on a DMP now for around 2 years
Replies: 44
Views: 5952

Technically i dont have 75k equity as we haven't had survey evaluation etc i only have the evaluation from 3 years ago at 200k. The property is jointly owned by my wife and I. I was seriously thinking about this as an option. But how would my current lender see this situation with my creditor with r...
by rstewa
Fri Aug 17, 2007 5:23 pm
Forum: the hot hot IVA topics in 2007, 20 replies plus
Topic: have been on a DMP now for around 2 years
Replies: 44
Views: 5952

yes I have been recommended www.W3debtsolutions.co.uk and they are apparently well respected on www.fool.co.uk Yes i am a homeowner (mortgage 168000 balance) secure loan of 27k. Last valuation was done in 2004 at 200,000. This should be a lot higher now as my next door neighbour just sold for 270,00...
by rstewa
Fri Aug 17, 2007 3:09 pm
Forum: the hot hot IVA topics in 2007, 20 replies plus
Topic: have been on a DMP now for around 2 years
Replies: 44
Views: 5952

The largest debts (NR and Natwest loans) were used to consolidate a host of credit cards some of which I closed down e.g. Halifax, Barclaycard, marbles and Intelligent finance loan etc
by rstewa
Fri Aug 17, 2007 3:07 pm
Forum: the hot hot IVA topics in 2007, 20 replies plus
Topic: have been on a DMP now for around 2 years
Replies: 44
Views: 5952

Oh yes meant to say that MS is actually Morgan Stanley who have actually never troubled me.
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