Northern Rock will accept IVA's. Each case is taken on its own merit.
You need to phone an Insolvency Practitioner and get advice as to the options open to you.
Visit www.iva.com where there are reviews for companies.
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
It is not correct that Northern Rock will not accept IVAs. They are very receptive to IVAs so long as they represent the best return possible for them. I put a lot of cases before Northern Rock and rarely see rejections, but we do understand the criteria that they work under.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I to have £65000 of debt and Northern Rock held £24000 of that debt.
Melanie is quite right.
I was very worried about Northern Rock but they must have said yes as my IVA was approved on Mon 3rd.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Stand alone and my advisors were Money Debit & Credit Ltd. All done in 3 weeks. Made call on 14th Oct IVA approved 3rd Nov. I consider myself very lucky.
Strange this month as I dont get a lot of mail now. So far only had American Express on the phone asking for payment but they were happy and said they would not phone again when I told them I was in an IVA.
That is an incredible timescale in which to get an IVA proposed - 20 days from the time of your first call, of which 17 are the accepted notice period for calling a meeting of creditors before which proposals must be finalised, signed and returned by you.
So three days to put forward a fairly complex piece of work - I'm impressed, but perhaps a little cynical about the amount of work which actually went into the background research. I assume that you were very speedy in getting your supporting documentation to the company acting for you, and that they were able to verify the documentation, and interview you fully, in such a short time, and get the signed proposals returned very quickly.
I have done similar proposals in a similar timescale in the past, I am sure that all of the IPs who post on this site have, but nevertheless this is pretty good going.
Last edited by MelanieGiles on Wed Nov 05, 2008 8:26 pm, edited 1 time in total.
