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Posted: Tue Aug 07, 2007 8:19 am
by harrodine
Can anyone advice on the right company to deal with a lumpsum IVA.
There are so many and i have heard some horror stories.
Really do not know what way to turn!!!
Help
Posted: Tue Aug 07, 2007 9:25 am
by Oliver
Any IP should be able to propose a Full and Final settlement for you. The best thing to do is contact 2-3 companies, the ones on this site would be a good start and take it from there.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp
Posted: Tue Aug 07, 2007 9:52 am
by iva_squirrel
Hi harrodine and welcome,
Any IP company can propose a Full & Final. You can search on this site for a few companies.
Regards,
Michelle P.
Posted: Tue Aug 07, 2007 1:28 pm
by iva experts
Welcome to the Forum Harrodine,
Its true that there are some companies out there that are giving the wrong advice or taking advantage of people in debt. It is for this reason that on this forum we advise people to contact at least 2 or 3 debt solution companies, to gain re-assurance and cancel out any ill advice.
You can always go on IVA.com where you will see how individuals have rated the companies they have gone through.
Best Regards. IVA Experts
Posted: Tue Aug 07, 2007 1:36 pm
by harrodine
ThomasCharles wrote:
Any IP should be able to propose a Full and Final settlement for you. The best thing to do is contact 2-3 companies, the ones on this site would be a good start and take it from there.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Posted: Tue Aug 07, 2007 1:45 pm
by harrodine
Oliver
I have visited your site and your previous customers seem very happy. I have looked through your services but cant find any reference to lump sum IVA's, Is this something that your company could help me with?
Brief details are:
10K Llyods TSB trust card (3K Bank charges)
4K Lloyds Current account (all bank charges)
9K cahoot loan
5K AA prefernce card
4k AA Loan
2k Barclaycard
1K MBNA.
I have recently remortgaged my house for the maximum they will allow on my wage and have a diposable amount of 19K.
Do you think this would be acceptable in an IVA one off payment.
Anyones help regarding this would be gratefully recieved
Thanks
Posted: Tue Aug 07, 2007 1:46 pm
by harrodine
PS i have a pending CCJ hearing in 10 days that i would like to postpone untill i get the correct advice,
does anyone know how i go about this?
Posted: Tue Aug 07, 2007 2:00 pm
by Oliver
Hello Harrodine.
From the details you have posted I would be very confident that we could help you propose a successful full and final settlement to your creditors, as long as we could show that you have little or no disposable income after you have paid your increased mortgage costs.
Please feel free to contact us if you would like some further assistance with this.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp
Posted: Tue Aug 07, 2007 3:23 pm
by harrodine
Hi All
I have just been told that as i have more equity in my property than my debt i cannot quallify for an IVA.does any one know if this is right?
My Mortgage is 140000 on a property of 180000. My wages will not allow me to borrow any more than i already have.
Posted: Tue Aug 07, 2007 3:27 pm
by Oliver
That is absolutely right the fundamentals of the Insolvency Act are that to be eligible to apply for an IVA or Bankruptcy a person must be Insolvent. If you have more equity in your property than unsecured debt you are not insolvent.
You will therefore have to either attempt an informal agreement, take out a consolidation loan, or sell your house and pay your debts off.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp
Posted: Tue Aug 07, 2007 3:32 pm
by harrodine
even though i cannot get to the equity? Can i not take out a monthly IVA rather than a Lumpsum then look to release equity in 5 ears time when my position is better?
Posted: Tue Aug 07, 2007 3:43 pm
by Oliver
Sadly you are not elgible for an IVA at all due to the fact that you are solvent.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp
Posted: Tue Aug 07, 2007 3:48 pm
by Adam Davies
Hi
No,because you need to be insolvent to enter into any type of IVA.
Why do you not consider paying some of your unsecured debts off to leave yourself with a manageable monthly payment to service.
I presume that you have the 19k in your bank,if not and you have still to finalise the remortgage then you could consider a self certificaion mortgage and borrow the full amount[an extra 16k]
Regards
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Posted: Tue Aug 07, 2007 4:09 pm
by hara
The best thing might be to sell house,Down size, clear some or all debts,which may leave you fincially better in the end.
Hara
Posted: Tue Aug 07, 2007 8:37 pm
by harrodine
andydavie wrote:
Hi
No,because you need to be insolvent to enter into any type of IVA.
Why do you not consider paying some of your unsecured debts off to leave yourself with a manageable monthly payment to service.
I presume that you have the 19k in your bank,if not and you have still to finalise the remortgage then you could consider a self certificaion mortgage and borrow the full amount[an extra 16k]
Regards
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp