www.iva.co.uk

Just wanted to give you all an update and get this off my chest!
Sent all our paper work back in Feb, all seemed to be going well but a lot of our debt is with NR who are being difficult.

They want us to change to an interest only mortgage and they then say we can afford to pay the debt therefore will not need an iva. Its so frustrating. We will only be saving about £80-90 per month and our debts are so much that on a dmp we would be paying for 16 years. I'm not trying to get out of any debts which is why we wanted to go down iva route but we seem to be at a crossroads.

At mo we're waiting for interest only forms to come, we fill them in then apparently they make a decision whether we can convert to interest only and what kind of amount of endowment policy they want. I know this is a hurdle and we'll get through it all somehow but it feels like you take 2 steps forward and 10 back.

Anyways congrats to those whose IVA's were accepted today, this forum is so supportive and non-judgemental. I wish I found you months ago!

Sorry to hear it's not going great at the moment Frankey.
I wish I could say something to make you feel better but trust in your ip and I'm sure they'll be working hard to get things sorted for you.
Wishing you all the best

P x

Which Ip are you using Frankey

Are you saying that Northern Rock are refusing to accept your IVA on the basis that it is a better way forward to pay for 16 years in a DMP?

This does not sound like their usual criteria, so it might be an idea to get another IP to take a look at your case.

Defintely sounds like you need to talk to another IP to give you a second opinion.

Try ringing Melanie Giles or David Mond (Cleardebt). Both will give you good advice and are working for you. Some IP's seem to be working for themselves.

Cannot understand why NR are saying this.

You need to have a chat with an IP and give him/her details of all your personal and financial circumstances and particulars.

Visit www.iva.com for reviews on firms and practitioners and select one or two to have a chat with.

They will give you the most appropriate advice and it is free.

Thanks all, we are with payplan.

This feels like its been going on forever. Just had a couple of bad days with creditors calling, even at work. I've taken to not answering the phone now. Is it ok to get advice from another IP? We haven't signed a proposal yet but all our paperwork is with them.

I don't see why not if you havn't signed anything but I am sure one of the experts will clarify

If you haven't signed anything there's no harm in getting another opinion, and from what you've said it sounds like a good idea to do so.

Good luck, and let us know how you get on x

I think David is flying back from America tonight so I don't think he will be posting.

Hi, I dont really understand what or why Northern Rock are looking at this.
Have you had a talk with your case officer who is dealing with your case regarding this?
If you have, or would like to have a chat with myself, please call the office tomorrow and request to speak to me, so that we can see what is happening and try to resolve the issue.

Frankey - have you spoken to Kazz or your case officer on this matter?

I would be intererested to learn the outcome of this matter.