The Asset Link Financial company

[David Mond]

Whoever told you that NR would never agree is wrong - CCJ would become part of your IVA

[oliversbar]

Since the banks nationalisation have they been more approving of IVA's in anyone's experience?

[David Mond]

Not necessarily - it depends on all the facts and meeting their criteria which is in a matrix which is currently under review because of issues raised by my firm (and possibbly) one or two others.

[oliversbar]

What type of changes are there to come in possibly? Is this in line with the sheer numbers of people getting into trouble?

[David Mond]

No- it is based on total debt, ability to repay up to 10 years or 25 years on unsecured together loan, interest payable on other debts and DI etc etc

[oliversbar]

What is so distressing is that its only Link causing this problem with our payment plans. From what I've read they are leeches. I mean when the woman stated I should look at taking out a consollidation loanto pay them the 6k, i said how ridiculous that is given the amount we owed overall. I'm starting to think an IVA may be worth a go to stop debts increasing rather than decreasing.

[Reviva UK]

Just a thought as you are in a DMP with Payplan there is nothing to stop you using one of the well regarded IP's here on the Forum.

Maybe worth doing the maths but seems to me that it is 5-6 years vs 11-12 yrs IF everyone freezes interest,

It would also be worth exploring with the IP the viability of Br. I am sure that someone not connected to you could make the necessary enquiries.

Please call one of the IP's here on the forum for a chat.

[oliversbar]

I just want to keep our home. We have no priority debts, just unsecured. Surely we can't be the only ones in this level of trouble. Its playing havoc with my epilepsy too.

[David Mond]

Sorry to hear of your health problem. Call an IP as soon as you are able to tomorrow morning and I am sure giving him/her the facts you will get the appropriate advice. Good luck.

[liberta]

You have nothing to loose by talking to an IP and getting an honest opinion about the solutions open to you. The worst thing that can happen is that it will put your mind at rest that you are doing the right thing by doing the DMP with Payplan.

[oliversbar]

Well we've been on the DMP for four months now. What I'm fearing is the court hearing and don't really know what to expect or say. Having to explain to a judge is a bit scary really.

[David Mond]

Don't worry about the Court hearing - seek professional advice as there appears to be a mix up here and Payplan should sort it out for you. Otherwise as previously posted speak to an IP.

[jane.l]

Just for info, we were in serious negative equity with a Together mortgage and that did not stop NR securing the unsecured section of the loan immediately we got in trouble with repayments [V]

[oliversbar]

We are not in any sort of arrears with NR yet, and I don't want to risk that. Its everything else. Temazepam here I come!

[LoneRanger]

I would take the advice already given and speak directly with an IP. You have nothing to lose in doing so. Melanie Giles is highly recommended and im sure she would be more than happy to speak to you directly.