thanks Melanie, yes, i'm sure my credit rating will affect my chances but it is worth a try. I wonder, has anyone else been offerred this sort of deal to settle their debts or is it quite rare? Maybe it' sjust certain companies - who knows? The thing is, I've checked on loan comparison websites and ...

hi all, quick history - my IVA was rejected by NR back in september, now in a debt management plan, still getting phonecalls, letters and NR securing their loan against my property. All good!!! Anyway, yesterday I got a phonecall from one of my creditors (I won't say who) who told me that my debt wi...

cheers Andy. It's not the ideal way out of my situation but having tried my best to do what was right and give my creditors a decent return, if they aren't willing to accept then it's good to know I have options. Just a quick mention about NR, two days after my creditors meeting when they rejected a...

I've been away for a while and I just thought I'd update you all. Be as breif as I can. Creditors meeting back in september. Voting was as follows. Yes to IVA MBNA £5000 Capitol One &8000 Lloyds &5000 Capital Bank £6000 Egg £5000 No to IVA Northern Rock £16000 (surprise surprise!) Didn't vote Next £...

cheers optimist.

thanks melanie,
seeing as how my IP gets no money up front and is only paid if the IVA is acepted then I'm sure there must be some hope of it being successful.
Good luck everyone else!

thanks Melanie, the only reason I ask about modifications is that my wife is a hairdresser who normally makes between £20 and £40 a week in tips which our IP didn't include when calculating our household income becasue tips are not garunteed. If the modification was to increse our payments by £40 or...

Hi all, less than a week until my creditors meeting - stomach's churning already! What I would like to know is what does an IP do at the creditors meeting if a creditor rejects the IVA proposal? Do they ask them their reasons and then try to get them to change their minds by proving that the IVA is ...

Andy and Mike,
thanks lads. I'll check out them sites now.

cheers Andy, If i did go BR and my wife went back to paying her debts (which she can do) what would I be expected to repay? Obviously I would release my half of the equity with the help of my parents but what as for monthly contributions? Would they take into account that I would still be living in ...

hi Mike, thanks for the reply. My mortgage is with NR but is a standard fixed rate mortgage in joint names with my wife. The loan is a personal loan that I took out with NR not long after starting my mortgage with them (I consolodated a Lloyds TSB loan so that all my debt was with... ahem, one compa...

Hi, creditors meeting coming up in a couple of weeks. I've been reading the posts avidly since I started my IVA proposal and wasn't going to post another question as most of my queries had been answered, but I read another post today - someone asking if an IVA would be suitable for them as NR was th...

thanks for the advice.
Great site this!

Thanks Oliver.
I thought the car wouldn't be a problem. But if I had to increase my creditors return by a few % then I would be more than willing to do this by selling the car (probably to a relative!!!)

cheers Andy, About the equity release. Obviously we would agree to it but if for some reason in year four a mortgage lender would refuse us the extra money (maybe because our combined income is to low to afford the ammount required) and it isn't our fault would that break the IVA proposal or would w...