Just setting off on this journey (hopefully) and am really stressing - again.
We've sent off the initial authority to act forms and will be posting tomorrow 95% of the paperwork we needed to gather. The missing few bits should be on the way from the people we owe so should be able to post those shortly.
Now I'm terrified..... If there is a black side to look at things from then that's always the side I look from.
We've been trying to set up an alternative bank account but that's been troublesome. The place we tried will give us an account but no debit card, we were due to see another bank today to try them but couldn't get there because of the weather here. None of the account details have come in from the first place (probably because there's been no post here for 2 days) and I have to change my details at work early next week or it'll be too late.
We're waiting for paperwork to fix our mortgage at a really good rate for the next few years to help out with knowing there's enough to pay for an iva but, although its been agreed and we've chased 3 times, we still haven't had the forms to sign.
we've cancelled all the payments for our loans and cards so I'm dreading the phone starting to ring anytime now but if we can't even get the 'easy' bits sorted out I can't begin to imagine any of this ever being sorted (our delay entirely - not the IP we're dealing with)
Has anyone got any idea at all roughly what percentage of iva's are accepted by creditors as I'm starting to think maybe I'm doomed from the outset? How long are things likley to take from now? and Any help on how to survive the next few? weeks would be most welcome.
Thanks for all you help and sorry for the long post (why do all my worries come up late at night or at the weekend?!!!!)
Pap what company are you using?? Everyone feels the same mate,like there is no way out of the hole,and there is always a way out.
Have you tried co op for a bank account?? As long as no debt is with them,they are worth a try and have onlien banking etc etc and an electron debit card.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I second Bryn's comment and I too have a Step Account. Your IP (Insolvency Practioner) can advise you on a bank account - but Natwest step account is a good one.
An IVA is a good way of at least paying something back and feeling better for doing so.
Hi there & welcome to the forum.
Royal Bank of Scotland - have a basic account that includes a solo/maestro card, I think you have to apply over the phone or in the actual bank - have a look to see if you can apply online.
Nationwide only have a basic account which does not include a solo/maestro card - but you can access your money through whole in the wall/bank.
Yorkshire bank have a basic account with a maestro card & online banking & you can apply by phone or direct with the bank.
Also Natwest have a basic account with a solo card & online banking & you can apply on line - which my husband did & he got his through no problems whilst applying for a IVA.
Natwest & Yorkshire banks do not do a credit check on this basic accounts.
I got my account with Yorkshire Bank whilst applying for an IVA & I mentioned nothing about it - when they asked about over drafts etc. I just said I wanted a basic account to put my housekeeping money in & my tax credits.
We also got a account with Lloyds TSB (now linked to HBOS) they no longer do the basic account & where discontinuing it at the time we applied (in the bank). They where happy to give us there Silver account - but kept on pushing to give us an overdraft (not allowed in a IVA) Kept on saying no & they kept on saying why & I ended up telling them the truth, because we r not allowed credit as applying for a IVA. They suprisingly said thats fine & thanks for being honest & gave us the account!
Hang on in there & we are all here for you as many of us have been in your position.
Keep on posting its a great place for support.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Unfortunately can't do either of those banks (!), were recommended Nationwide, and are also going to try Yorkshire.
We're with Melanie and I'm know how highly thought of and successful she and her team are, I've felt very at ease with them, but I think it's me that's the problem. Because my life is so awful at the moment and has been for nearly two and a half years now, I find it really difficult to have any confidence that anything I'm involved with can be anything other than a complete failure.
I just don't know if I can do this or anything else anymore. I'm soooooo tired of it all.
You can have complete confidence in Melanie and her team as they are brilliant and will get you through it.
I felt a complete faliure and still do sometimes but I am trying my best topay back what I can, it can be tough sometimes but nothing compaired to before the iva as that was so stressful with calls and creditors hassling for money I did not have.
It will take a while to get your confidence back, but no worries with the IP you have chosen. The forum was (and still is) a great support to me and I hope you find it useful. Whatever you are feeling, lots on here will have felt the same so post when you need support as we are all here for eachother[:)]
Regarding the bank account, i am with the Co op and they have been fantastic since day one and I would recommend to all[:)]
Good luck and keep posting[:)]
Be positive & look after yourself, there are more important things in life than debts....
Yorkshire bank have a good basic account with no credit check & online banking with a maestro card. I also find when you pay for anything with the card the money is taken straight away from most retailers (except Debenhams - dont know why!) Which is good as you can keep track of you money better & you know exactly what you have got left.
Melanies team are very highly thought of on here & Melanie is a great support to the forum. When we started our IVA process I was so stressed out & constantly felt like is was going to fail & believed it was going to go wrong. I too often feel there is a cloud sitting over me. Dealing with debt is very stressful - but you have made the right choice in trying to sort it out. Creditors would rather have some of the money you owe back rather than nothing. And a IVA is the best way to go about in my view, if you can no longer meet your obligations to them. Keeping your head in the sand & letting things get worse will only make you feel worse in the long run. Its better to face it, get it sorted & then you know where you stand & you can start to move forward. Im sorry your feeling so low - but you have a great IVA team to support you & this forum is a great support. Some might not be experts on here but we are all in similar situations & understand how you feel & what IVA life is like. You will get through this & once its all in place - it will be a huge relief & weight of your shoulders. Keep posting we are all here x
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Over 80% of IVAs are generally accepted, and in my firm 98.5% - so you ought to stop worrying about everything and concentrate on getting all of the paperwork to us so that we can begin to process your case. Good news about the mortgage, and continue to chase that along.
I hope everything works out for you in your IVA Application,
I am 14 months into mine but i am glad i did as there is no better feeling than knowing that
i have no creditor hassle and can sleep sound at night as long as i am making my payment while i am in an IVA.
What you are going through Pap IS WHAT I CALL THE MOST STRESSFUL PART OF ALL!!!!
you have most probably stopped paying your creditors and now you are getting the demands and letters and phone calls and you are tossing and turning worried and can't sleep at night.
This is all part of the setting up of an IVA and your IP will be doing all they can to make your IVA proposal successful, i went through the same as you and i changed my Bank Account to CO-OP CASHMINDER ACCOUNT which has a VISA ELECTRON DEBIT CARD
and i prefer this account to my previous account where i was getting slaughtered with Bank Charges and they have Brilliant Online Banking Facilities.
I would suggest you look towards these as it is the best Basic Account there is as far as i am concerned.
Going through the set up of an IVA is the most Stressful Part of it as you want the quick fix.
I was sceptical about it at first but now i really i should have done it ages ago.
It is not always easy but at least you will be freeing yourself from overwhelming debt.
Abbey National Instant plus account - I applied in the branch and was given the account number and sort code immediately and they knew I was in an IVA. We got an Electron card and facility to do DD and SO's from it.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
If you are unsuccessful in getting a bank account to suit your circumstances there are a number of pre-paid cards that have a bill payment facility. These do cost a monthly sum but in the main offer good value and can provide most people with the flexibility of paying their bills on line, using it to buy goods over the Internet and paying for grocery and other purchases when shopping. The best thing is you cannot be overdrawn. Don't be stressful as I am sure you are doing the right thing and this is only the start of your jorney to financial rehabilitation. Good luck.
Last edited by David Mond on Sat Feb 07, 2009 8:28 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
It compares some of the prepaid cards about at the moment.
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
hey pap i just wanted to check youre ok. i can so know how youre feeling right now.
the only way to fight it is to think positive-coming from me miss negative 2008 ! [:)]
youre doing your best ok- youre getting things sorted but it takes time-not easy when youre in a state of panic. im with mel and you are sooo gonna be ok. this forum helped me through the darkest bit around end of oct/nov last year.
have you tried the co-op or yorkshire-apparently yorkshire does a good debit card account thats basic.
listen all i can say is hang in there-mine took approx 8.5 weeks to sort. the creditor calls are nasty but theyre call reps on commission if they extract cash from you. you could change your number or let it go to voicemail-dont let them scare you. i did for a bit.
when the calls were incessant the lovely sam at mels place called them for me and basically told them to back off-call if they get too much. i cannot reassure you enough that all will be well. you have a fantastic ip and company acting for you and whenever youre feeling alone or down which will be quite a lot- i know please remember you have a lot of people here that care about you and we will be supporting you through this ok ? x [:)]
Thanks for your kind words, I'm ok today.
Finally managed to get an account number and sort code for the new account - the one without a debit card - so at least I can get my pay moved for next payday.
Been shopping for the week and managed to shop fairly frugally, looked at prices etc before anything went in the trolley and didn't throw in everything without thinking, a small thing I know, but at least it's a start.
Still terrified at the thought of all of this and coping with it but at least we've made a small step forward today.
Thanks again everyone, without this site I don't kow what I'd do.
