This makes me mad. We may have made mistakes in overleveraging ourselves but they haven't been too financially savvy either! When our taxes are supporting their business, who are they to sit in judgement and inflict 'punnishment' on people.
Banks are required to be sympathetic to customers in financial hardship. If the IVA realises a better dividend than bankruptcy, I wonder whether the FSA, OFT or BBA would support their decision to refuse the IVA proposal knowing a DMP was not on offer.
I wouldn't give up without a fight on this one. Tho thinking back, I may not have had the energy to take up the fight.
I think that a lot of IPs would have taken up the cause if they thought that NR would agree to an IVA.
They have their criteria which is well known amongst IPs.
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
I think I am definitely going down the BR route, if only to say "serves you right"!!! My question is however can BR be refused if I say I dont want to do a DMP? Also as I have ajoint bank account with my husband and no joint debts how realistic is it that the OR will not freeze our account. I am worried that if they do and we need to open up a new account that there are no options left to us as all other banks are somewhere linked to one of my creditors!! maybe this would swing the ORs decision not to freeze it??? I want to start the ball rolling asap but am so scared I haven't noticed a pitfall somewhere. Thank you all for your help so far.
