www.iva.co.uk

Hi all I'm new to forum which I think is fantastic been following for a few days now and everyone is always willing to help! I've got my Iva meeting on September 28th with credit fix and I'm worried sick it won't be accepted:( I'm currently in 32k of debt with
Barclaycard £7k credit card
Sainsburys £2,3k credit card
Bank of Scotland £2.5k credit card
Overdraft lloyds £3k
Nationwide £12k loan
Argos £500
Next £400
Very £600
And a few other little bits do you think this will be accepted just need a piece of mind as driving myself crazy with worry

Hi
I had 42k debts with very similar lenders. It was approved no problem. I personally went from paying 1100 per month to lenders to paying 433 per month into IVA. The amount you pay into IVA depends on you amount of disposable income. My salary was 40k and mortgage was 530 per month.
On the other hand, my friend had debts of 32k and had a salary of 22k. His monthly IVA payent is only 160 per month because he has less disposable income.
Fingers crossed for you that its accepted and enjoy the ride.
My IVA finished March this year after 6 pretty stress free years. I chose Aperture for my IVA. Im now loving being debt free and slowly but surely rebuilding my credit file. It was definitely the best desicion i ever made

I think it will be accepted we had debts around 100k will mostly mainstream lenders like yours and we were accepted.My dividend was due to be 21p in the £ and I'm paying back 29p in the pound.
You should be accepted

Careful not to get caught in how much other people are paying.
The IVA is very individual, is based on affordability and at the end of the day if the best deal is put on the table in front of creditors they will more often than not look to get back something rather than nothing.

Best of luck with the meeting. Were you happy that everything was explained to you clearly?

Paul

I will be paying £353 a month towards Iva I'm just stressed to the limit!!!! Credit fix told me to change my bank account & cancel all direct debits to creditors so they must be confident it will be accepted?? I'm in need of a time machine

The majority of IVA's we hear about on here get accepted these days --- the IP has put a lot of work in and will get nothing back if it is rejected, so they must be pretty confident themselves.

Try to keep busy and not to dwell on it ( hard I know! ).

Just change your account to a non creditor - don't touch HSBC or First Direct though.

The co-op and Nationwide are good.

As regards the DD - make sure that if you have any online accounts that you go in and remove phone numbers so they cannot contact you.

Use that money to build up a contingency sum.

Thanks I find if I talk to people it helps! Next Wednesday can't come quick enough? If accepted when would my first payment be???

You usually have to make the first payment within 28days. Try to make it as soon as possible after acceptance, remembering to try and tie the pay date in with a convenient time in your pay month.

I arranged for my payment to go out a couple of days after my salary went in. I also arranged as many of my other direct debits for essentials to go out in the first week after pay day, so I knew what money I had left to "live on" pretty early in the month.

I changed to Santander. They were happy to give me a 123 account rather than the basic bank accounts that are on offer

I made my payment on the day of the meeting but, most will wait the 28 days and make sure that it coincides with your payday!

Good Luck, I hope everything goes well for you. My creditor meeting is the day before yours and I am worried sick as well. Hope fully we can have two days of good news

I am sure you will both be fine - got everything crossed for you.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MattFreshStart

Good Luck, I hope everything goes well for you. My creditor meeting is the day before yours and I am worried sick as well. Hope fully we can have two days of good news

Fingers crossed everything crossed good luck to you to! #128077;

I am confident your chosen IP will have submitted the best offer to your creditors. Good luck on the 28th September - will.be rooting for you x