Hi. Application for a loan to clear overdraft and credit card denied.

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Davidd014

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Post by Davidd014 » Fri Aug 14, 2015 9:25 pm
Hi. I applied for a loan before to clear overdrafts and a credit card but got denied due to lacking credit score. Is this a service i can use?
 
 

Foggy

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Post by Foggy » Fri Aug 14, 2015 10:58 pm
An IVA might be a possibility if you are having real problems paying your debts. I would suggest a chat with a few companies and trying the calculator over at the top corner of this page for an initial indication.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Adam Davies

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Post by Adam Davies » Sat Aug 15, 2015 5:10 pm
Hi and welcome

An IVA is only available if you are insolvent, so unable to make your agreed monthly contractual payments. Many people can carry on making minimum payments whilst actually insolvent but they are actually using credit to pay for credit

You need to put together an income and expenditure statement to see if you have enough disposable income each month to meet your required monthly creditor payments



Regards
Andam Davies
 
 

kallis3

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Post by kallis3 » Sat Aug 15, 2015 5:20 pm
Hi and welcome from me as well.

As Andy says, you need to take some advice.

Speak to Andy or Vincent Bond and the initial advice is free.
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
 
 

Shining

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Post by Shining » Mon Aug 17, 2015 5:03 am
There are lots of companies out there and it's suggested we talk to 2 or 3 before making an informed decision.

IVA is a good debt remedy but there are many other solutions and all can be discussed with several different companies to gain case specific advice.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Lisa Thomas

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Post by Lisa Thomas » Mon Aug 17, 2015 11:25 am
Hi David - it depends on your circumstances, your assets and the amount of debt you have. There are other alternatives to an IVA that might be more suitable to you. Speak to an IP.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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