www.iva.co.uk

After waiting for what seems like an eternity, I have received draft proposal. As some of you know, I was asked if I would agree to 236 per month instead of 150. I said I couldn't as had already gone up from 125 to 150. After discussion lady said she could get it to 166, so happy with that. Well .... today after looking at paperwork the front page says 236 per month (rising when car hp is paid off at month 49) which I understand to 438. The figures within the paperwork are 166 which is what I agreed. So having to wait til Monday to sort it out as not signing anything. Also, was told about equity release at month 54 which I understand but Knightsbridge told me that they wouldn't put it in until creditors asked for it. But its there, now. Honestly I don't think I can take much more of this. Seriously starting to consider contacting creditors and begging for mercy and trying to come to an agreement to start paying again and forgetting iva but fear Ive come to far now. What do I do I have put my faith in Vincent bond who sent me to knightsbridge and at the minute I feel let down. [:(]

oh dear it's not easy for you I agree and I totally sympathise with you. Put the papwerwork down make yourself a drink either hot or cold and relax. I wonder if it's just an oversight with the front page not being amended as the interior pages were. It can wait until Monday and you can speak to them and I'm sure they'll amend the front page to match the rest of the paperwork.

I'm not sure about the equity release clause I thought that was pretty much standard within an IVA but could be wrong. It was in mine from the outset.

I hope you feel more positive very soon, maybe Andy will come along who works for VB and reassure you. Do you want me to email him for you? I honestly don't mind.

Yes please Lesley. That would be great. Can I ask, did you manage a remortgage or did you end up paying for another six months? They will be getting the increase in both our car payments from month 49 and month 57, so if extended for another six months they will get that for longer. You would think they would be happy with that! Its an extra 370 a month!!

I will email Andy for you no problem at all.

When we reached month 54 we had the valuation and didn't have enough equity for it to make a difference so our IVA concluded at 60 months.

If you have equity I would discuss this fully with your IP before signing etc., best to do the homework now.

Hoping Andy will reassure you. x

no equity at min, they have based it on houses near me but they aren't selling. They worked out I have about 1000 but I haven't! thanks Lesley.

Don't fret over the weekend sonj77. It's just another couple of days then a phone call will sort things out.

VB are a respected company and would not refer to someone who wasn't professional. You'll be fine - a little blip in your journey to debt freedom!

Thank you Kazza. I just wanted to sort the paperwork out and send it off. They are sending someone to check it for me and take it away, couriers, is that normal!? Obviously that's been delayed now until the paperwork is right.

Nothing will progress over the next few days so try to enjoy your weekend (easier said than done, I know )
Hopefully Lesley is correct & they have just forgotten to amend the front page.

cheers dancer, im at work at the weekend, so at least Im busy!

The front page is usually the outline proposal which is what many creditors read. You need a new proposal sent to you with correct figures as otherwise you have no idea what you are committing yourself to.

thanks, I insist a new one is sent. I wont be signing until I read what I agreed to x

Yes some firms do use couriers to do some of the work.

Hope you are keeping calm!

Im not too bad thanks Kazza but do have my butterflies in stomach moments!

Hi Sonj77 - think you are about a week or so ahead of me in this process. Good Luck

its a slow one huni, especially when theres an error with paperwork!