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Posted: Sun Sep 14, 2008 6:38 am
by bluecathy1978
Are Northern Rock accepting IVA proposals more readily these days or would we be wasting our time even contemplating it?
50% of our debt is with them and we have no assets, house, saving ect.
Posted: Sun Sep 14, 2008 8:02 am
by Til
We had NR is our list and they voted yes - they also had largest of our debts so they do agree to IVA's when the proposals are fair.
However they did ask for extra year so ours is for 6 years and this also seems quite common on here when NR are involved.
Sure an expert will be along soon though to give you a professional answer - good luck [:)]
Posted: Sun Sep 14, 2008 10:25 am
by kallis3
Each proposal is different, but NR do seem to be accepting some and increasing the term by 12 months.
I'll bump this back up for a technical expert.
Posted: Sun Sep 14, 2008 11:18 am
by suzanne100268
They accepted ours!
Posted: Sun Sep 14, 2008 11:23 am
by MelanieGiles
Not at all - but they are a very commercial creditor and look closely at all IVA proposals put before them. They do have some set criteria which IPs ought to be aware of, so do ask your IP how many proposals they have got accepted by Northern Rock recently which may give you some indication of how yours may fare.