www.iva.co.uk

Good Morning All,
I'm off from work with a cold and trying to revise for exams as I am studying part time for a Psychology degree, hoping to go into Counselling when I finish next year. This is my second post on this site and I must say that all your postings help me from sinking in to depression. I am waiting for my appointment with a highly recommended IVA company and the stress of dealing with all of this is giving me major headaches!!I started a new relationship about 9 months ago and told my new partner about my financial difficulties, a very difficult thing to admit to. Being honest about my reasons for my debt to myself and sharing this with someone special was one of the hardest things I had to do. I have cancelled my direct debits with unsecured creditors(really scary), transferred my regular debits (tv licence,mobile) to a new bank account which has no connection with any of my creditors. (I have an unsecured loan with Natwest,just over 25k, how receptive are they to IVA's?) and I am budgeting like mad. I do get a kick out of a bargain. I found a brilliant 99p shop in my local area where I buy all my paper goods and cleaning products. I am so happy I found this site and will keep you informed of my progress. SpreadLove sending Love

Hi Spreadlove
Welcome to the forum.Well done for telling your partner about your problems,biggy i know,but its best to be honest it will serve you well in the future.As far as i know NW are quite receptive to iva's but im sure others will let you know if thats wrong
Good luck with your studying,and i hope your iva will be successfull.Keep posting let us know how it goes.

Hello tracy.h. Thank you for replying and your kind words, I really appreciate it. I will let you all know how it goes.

I remember Melanie saying that Natwest are a very commercial lender so providing you are giving them the best return you should be ok. They were my main creditor and voted yes, although that was a year ago.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

hello skippy13. Thank you for replying.Natwest is my main worry as I owe them the most money. If the main ceditor is more than 75% of your total debt and they vote in favour of your proposal are the other creditors required to accept?. I have a current account with Natwest at the moment, moving over to Abbey National next month.
Your 'yesterday is history' quote is inspiring Skippy13 !!!

As far as I remember providing that the acceptance is more than 75% of votes cast you will be ok - even if only one creditor voted!

I'd liked to say I thought of the quote, but I nicked it from the website of the late cricketed Bob Woolmer! I thought it was really inspiring and it helped me with a few things that have happened this year.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Natwest was our biggest creditor -unsec loan, c/cardit and overdraft =£25K approx - they asked Insolvency Exchange to deal withour IVA and they asked us for a slight modification in months 1 & 2 before accepting it - what I would say is - clear your Natwest accounts of any money you have available as they do remove the money they can! Good luck and keep smiling - when you get the IVA yes - you feel such more relieved - I have paid 1 /60 months now - only another 59 to go!

Hi LizzieJ, good morning All. I have a massive £160.00 in my Natwest Account, moving my salary to Abbey National tomorrow. Thank you for all your help and encouragement. I will be relieved when everything is sorted, 5 years is a short time when compared to a lfetime of debt.Enjoy the rest of your weekends..Spreadlove sending Love