www.iva.co.uk

Hi everyone, Been reading here for a while now and have decided on the iva route and to go with Melanie Giles. Spoke with Tina earlier this week who was very helpful and took all my inital details so hopefully things will get going soon.

Just wondered if anyone has had experience of Nationwide as a creditor, the majority of my debt is to them, are they sympathetic to iva's especially with what could be a low 'p' in the '£' offer.
As I have three seperate debts with them, overdraft, credit card and loan would that be classed as one creditor when time came for them vote on a proposal or would it be three votes, stupid question I know but I was just curious because the credit card at least seems to be seperate from the banking.

Hi djw, I can hopefully answer a few of those questions for you.

Your 3 seperate debts will count as one vote for a creditor, though as the majority of your debt is to Nationwide then their vote alone may be enough to decide the outcome. I don't know how sympathetic they are to low dividends, but it's always best to work with your IP to make sure the p in the £ is as high as possible to ensure the creditors are happy. Hope I have helped, this is my first post here too.

Hey welcome to the forum. We had banked with Nationwide for years. Owed a fair amount to them loan plus account. They did not even vote on our IVA's.
Have to say we still think they are a really nice company. They have always been very helpful to us, and we felt a bit sad defaulting with them but had no choise.
Baldy & Family

Hi DJW and welcome to the forum. Well firstly I'd like to say excellent choice of IP as I'm with Melanie and you'll be guaranteed excellent service. Melanie and her team are one of the best and the best offer for you will be on the table so rest assured on that score.

In respect of the creditor Nationwide I have no personal experience but reading above they look favourable to IVA's.

My hubby only had 3 lines of credit all with HSBC, a loan and overdraft and a credit card and they voted yes to all 3 lines so a 100% vote for him.

Hi and welcome to the forum,

I've no experience with them as a creditor but you have picked an excellent IP with Mel and her team and they would not be putting you forward if they did not think you had a chance of being accepted.

I'm pretty sure as well that there will be one vote for each line of credit - I had a loan with HSBC and a credit card and there were two votes.

Hopefully one of the experts can clarify.

hiya,
i am of the understanding that seperate debts with the same creditor equal seperate votes.
but i'm new to this and i could be wrong.

One vote, but all debts added up for each creditor to determine the weighting of those votes at the creditor meeting I believe.

I thought that was the reason why you either had to have at least three creditors or two creditors with three lines of credit.

Hi

I had a bank account with Nationwide and had an overdraft with them, once I changed my bank account and my salary wasn't paid into my account they were in contact constantly. They did a couple of things I never understood, my overdraft was 3k and when the first months salary wasn't paid in, they lowered the overdraft to 1k and then charged me loads for going over my agreed limit. And then after speaking with lots of people and telling them over and over again that I was entering into an IVA but until it was sorted I had a DMP they tried to issue me with a summons for a CCJ .... and then after all that they didn't even bother to vote at my IVA meeting.

You never can tell can you?

kallis3 wrote:

You never can tell can you?

Thanks for all the replies and welcomes.

Looks to me like everybodys experience is different, will just have to see how it goes when I'm at that stage.

My situation is pretty much like Baldy's, I've been banking with them for nearly 30 years and always found them to be pretty good, just recently their loan people even tried to see if they could help out by taking all the debts into the loan but couldn't do it for the amount i could afford.

I'm just in the process of setting up a new bank account now so I'll see what happens when my wages stop going in, already missed one payment to the credit card and haven't heard anything from them but it's only a few days overdue, so I'm expecting them to call next week.

Ok, now I'm onto bank accounts I have another question.
I've setup a Cashminder account with Co-op and just had to take my id into the branch, took in my photocard driving licence and council tax bill but they wouldn't accept them as the addresses were slightly different, dvla insists on leaving out the name of the town I live in and using the postal town instead and the council leave off the postal town. Any ideas how I might be able to get around this? I'm guessing it will be the same for all banks thought, especially with the money laundering rules they have to follow.

So far over the last week the only thing thats worked out is I passed the referencing for a letting agent without any problems, so next month I'll be moving to a new place and be saving £100 a month on my outgiongs.[:)]

Are you on the voters list at all? This is usually good enough for the Co-op. Do you have any utility bills you can use?

Good news on the rental!

I would have thought the elctoral roll too? Hopefully soon get around that as the Coop does come highly recommended on the forum. x

Yeah should be on the electrol roll, all my utility bills have the same address which doesn't 'exactly' match the photo id and found out yesterday when i spoke to the co-op call centre that my address dosen't appear on the post office postcode search which didn't help. The lady I spoke to said she would look into my situation and call me back in the next couple of days, so hopefully I'll get sorted. Just don't want it to go on too long incase nationwide decide to close my flexaccount before I have a new account to pay wages into.