Thank you all for the replies. After reading lots of posts we are definitely going to contact Melanie Giles, but whether we do so now or once we've paid off the boiler debt to my parents, we aren't too sure......if we could guarantee acceptance from the creditors to allow us to pay off the boiler debt and then after Sept next year include that £80 into the IVA then I think we would go for it now, but if they weren't to accept I presume that would reflect badly if we tried to enter into an IVA again next year once the debt's been paid off.....
I don't think it would affect badly on you at all stejay - and if you feel that getting this debt priorised now, due to hardship your parents may suffer from in the meantime, then you can always do an interim DMP which would at least bring your creditors under control until you are ready to propose the IVA.
Thank you for your reply Melanie. We are doing a self managed DMP with all of our creditors at the moment, which was started just over 5 years ago and all the creditors agreed to freezing the interest. So I think we'll just hang on until the boiler debt is paid off to my parents before starting the IVA.
Would it be OK for me to contact you at that time to look into helping us with the IVA?
I would be delighted to speak with you when you are ready, with a view to proposing an IVA stejay. In the meantime do try not to incur any additional debts.
A sensible attitude and I can confirm by talking to Melanie you'll be getting some great sound advice. Melanie was my IP during the duration of my IVA so hopefully when the time is right she will be able to assist you. All the best.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi again, not quite on topic, but we are just doing a quarterly financial update for the creditors and we are now in a position to increase our monthly payments, however this increase is what we were going to propose for our IVA…….. so, obviously we want to be honest with them, but come next year when we're hoping to enter into an IVA is it likely they would accept it if the payments were the same as they've been receiving for the last year???
Thanks Melanie and yes, they are - just slightly less to Northern Rock, and then I've no idea on minimum payments for OH's Visa or overdrafts, but I'm pretty sure they are well below minimum.
Last edited by stejay on Tue Jul 30, 2013 2:24 pm, edited 1 time in total.
Hi stejay - sorry if I have missed something but is there any reason why you are not looking at doing an IVA now?
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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Hi Tina, yes as we are currently paying my parents back for a loan for a new boiler and we don't want them to become creditors so after Sept 2014 we'll look to start an IVA
