www.iva.co.uk

Hello all, I am new here although I have been reading this forum for the last few weeks.

My situation is follows, 80k debt and hopefully offering 27p per pound settlement. I have about 11 creditors in total, main ones being LLoyds, MBNA and the dreaded Northern Rock!!!

I am only at the proposal stage at the moment so a long way to go at the moment.[:(]

Hopefully all will be OK and I will get this sorted.

I have a perfect credit record and have never missed a payment. The trouble is I have been paying this for the last 3 years and still owe the same now as I did then!

I will become a regular on here from now on, so hopefully I can pick up some advice and make some friends in the same situation!

Hi

Welcome to the forum, you are in the right place for advice and support. Someone will be along shortly to answer your concerns.


Regards


john

A good year was 1973!! Welcome to the forum. Lloyds tsb was my biggest creditor and were fine to work with.
Who is proposing your IVA??

hiya 1973 just wanted to welcome you.
you will get so much support and help on here.
if youre ever needing help or are worried jump on here and your buddies will help x [:)]

Hi there and welcome from me too.

Try not to worry too much, you're IP wouldn't put a proposal together unless they were confident of its approval. Northern Rock were one of our creditors and agreed to the IVA so don't despair.

When you say 27p/£ settlement do you mean that you are offering a full and final settlement or is that what you propose to pay for the duration of your IVA?

xx

Wow, what a response!! Thanks very much, its nice I am not trying to go it alone.
11
The 27p is for the duration of the IVA, I wish I had enough to propose a F&F!

Hopefully I am will get a proposal sorted in the next couple of days and then get an answer before too long.

Not sure what the future holds work wise once I enter an IVA but nothing can be worse than the situation I am in now-!!! The reason I say that is I provide freelance work to financial service organisations, so not sure they will still want me once in an IVA!!!

Thanks again[:)]

You'll never be alone now you've found this forum [;)]

Who's proposing your IVA.?

Hi 1973nl,..and welcome from me too...glad to see that you will become a regular on the forum,you'll get a lot of help,good advice and support from everyone on here...also well done on taking that first step in getting your debt situation sorted,..we had similar debts and also have MBNA and Northern Rock as creditors and they were both supportive in our proposal,try not to worry!!...and good luck,keep us all posted on how you get on!!...xx[:)]

I'd rather not say who is proposing my IVA at the moment. Its early days, so if its OK, I wont say.

They come highly recommended on IVA.com and I have met them face to face and they seem really nice and understanding and very non judgemental.

Why did I not do this years ago????

Welcome from me as well.

You don't have to tell us who the IP is, we're just curious that's all!

welcome from me too 1973...if your IP is off this forum then you should be fine...lets hope you get a date for creditors meeting and get going really quick...well done for taking responsibility for your debts...keep posting....[:D][:D]

Hi well your amongst freinds on here. MAy debts were 82k and 13 creditors i was with DFD and my iva was approved at 18p in the pound it was a fantastic result. NR / MBNA were included I have been in it nearly 1 year and its been much better no letters etc this site was so good and the experts who give their time are genuine and sincere. welcome onboard the debt free express no more rollercoasting...: )

Thanks again for the suuport.

My IP was recommended on IVA.com and is only a couple of minutes drive from where I love so easy for face to face stuff.

They don't charge me anything but take their fees from the IVA pot, is this the usual process? Therefore, if my IVA is not approved I can walk away and be no worse off.

She is really hopefull it will be accepted, so fingers crossed. I am waiting for the proposal and then she said from signing that to getting a decision will probably take 4 weeks.

Thanks again

That is the usual process - it's all factored in to what you pay.

Best of luck - we are all in it together and when the going gets tough (which it does for us all in an IVA) we will be here to jeer you along and make life seem better !
Climb aboard the IVA bus ......the journey starts here !