THINKING OF DOING A IVA

[johnpaul]

hi melanie just had a call from a ip advisor from freeman jones who coming up to house thisafternoon been told that they are 97% right that a iva will go though for me i told him that i will see him and i will keep you informed on the forum later on today hes coming up in the next 1 hour

JOHNPAUL

[johnpaul]

hi melanie got some good news spoke to the ip advisor told me the ups and downs of the iva and went though it with me telling me to say in the paperwork that had to hand that i am very sorry about this telling them the creditors how i got into debt and that i reget this very much and will you acept this iva that i am putting to you which is going to be ok for me the person whos in debt and you the creditors this is what i can aford and that my job is safe for the time i am doing this iva and that i have no assets of sigificant value and that i will pay 50% of any net income that i receive also gross disposable income £285
iva money £265
per month

JOHNPAUL

[aguise]

Hi John Paul Hope you feel better and understand it now. What were you paying to the dmp per month? FJ are very good and if you dont understand anything they are more than happy to explain.

All the best

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[johnpaul]

hi ang was paying £400 per month which £60 per month was dmp fees
i have signed forms today saying that going to give creditors 38p in the £ back thats £265 per month been told to stop paying gregory pennington and if they say yes to the iva then payment into the iva will be within 1 month
can i say ang did you start on a dmp with gregory pennington or go right into doing a iva

JOHNPAUL

[aguise]

iI have a friend who was on a dmp with Gp and he was also advised to do an iva. I personally went straight to FJ on his recommendation. £265 will be much better for you and at the end of the five years your debt will be gone, that looks like a much better option to me. I hope all goes well for you.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[johnpaul]

hi ang i agree what melanie giles said why did gp wait until now how come they did not start me on a iva right away maybe its a little extra money for the credits now if they say yes to my iva

JOHNPAUL

[aguise]

I also agree, I dont know, GP are a debt management company, so if you ring and ask for a dmp that is what you get, maybe they review accounts that go well and offer the iva via their sister company fJ if a better solution. I would just ask them it would be interesting to know the answer.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[johnpaul]

i told the ip advisor about this ang all that he said is maybe its best to put you on this first then go for a iva and also he was going on about hfc policy about acepting ivas is the debt has got to be 12 months old hfc is part of hsbc so if anybody in this forum as debts with hsbc might be worth telling other people the debt must be over 12 months old

JOHNPAUL

[aguise]

I see that would be a good reason, it would show you can make the payments and allows you to fit some criteria, either way John Paul the end hopefully is in sight for you.
I cannot say that at the end of the iva I will never have any credit again but at the moment I feel very strongly that I wont, I dont need a mortgage and a car we could save for, I would rather steer clear totally now. We are not at retirement yet but I want to be able to put a bit by so we can enjoy it, we have worked hard all our lives and we deserve that so I want to ensure we get it.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[johnpaul]

hi there ang the best way forward is to think if you put say £50 per month aside for gadgets and put £150 per month after you have done your iva then just have one credit card and set up a direct debit for say £150 per month so and use it just for that and if you try not to go over the £150 then you will be a winner and it will credit score you and repair your credit rating very fast then the key is to it to stick only with one credit card no more loans but just have buy now pay laters or just use the card with the £150 direct debit you have on it and ask for a credit limit of only £250 on it only

JOHNPAUL