www.iva.co.uk

Posted: **Tue Jan 20, 2009 3:29 pm**

Having opened a basic account with co-op, I have sent all available IVA information to Cleardebt and am keeping fingers crossed. Just received a valuation for the house and it is now worth £25K less tham I paid 2 years ago, so heaps of negative equity now.

A quick question - My car insurance is renewed annually on a 12 month direct debit and there is a small charge for the associated credit in spreading the payments...

I have never thought of this before but is this (extension of credit facility to the person paying) acceptable in an IVA?

I also have a bill from Natwest stockbrokers who want me to pay £130 interest on my now redundant trading account - should I try and pay it or must they be added to the creditors list?

I can't imagine anyone mucking their financial life up quite as effectively as I've managed it.

Glad you guys are here.

Posted: **Tue Jan 20, 2009 3:33 pm**

hi have you got advise about BR also as with no equity you would keep your home

Posted: **Tue Jan 20, 2009 3:39 pm**

every debt needs added to your iva as for the debt were all in the same boat mine was a mess but you are getting in control by seeking advice and you will soon be debt free and a fresh start

Posted: **Tue Jan 20, 2009 3:40 pm**

Hi lost

I'm certain that BR would cost me my job I'm afraid, so not an option

Posted: **Tue Jan 20, 2009 3:42 pm**

ahh so it isnt an option good luck with your iva i have been in one 31 months

Posted: **Tue Jan 20, 2009 4:00 pm**

You should be ok with the car insurance. Most of them put a little charge on these days.

You should notify your IP about the £130.

Posted: **Tue Jan 20, 2009 4:05 pm**

All creditors must be treated equally. As for the car insurance you should be ok.

Posted: **Tue Jan 20, 2009 4:34 pm**

If you want to contact me offline, SL, I will confirm with you whether we have received your info and how far along your case is, and I will also get your case worker to address your concerns with you directly. You can find my details on the left, but as the others have said I don't think there will be any real issues here.

Regards.

Posted: **Wed Jan 21, 2009 12:13 pm**

Mike

Just to let you know I left a message on your voice mail.

Will try again later

John

Posted: **Wed Jan 21, 2009 1:11 pm**

Nice to speak to you earlier John, and if you have any further issues you can call me at any time.

Regards.

www.iva.co.uk

Credit element of Annual Direct Debits