Welcome to the forum - you will need to provide evidence of your debts througb copies of statements/ account numbers etv. You will also have to show your income and expenditure so pay slips, P45/P60 and utility bills. You may be required to provide ID so a birth cert, passport or driving licence.
Timewise ... it takes approximately 3 months from initial contact through to acceptance. It seems a long time but its an important time to ensure all is done correctly and your payment level is set correctly.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Have you spoken to any companies yet? I recommend speaking to a couple - Vincent Bond are a good firm and whoever you speak to will explain everything to you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As mentioned above, do speak to a couple of firms at least, as they do all operate slightly differently within the framework (some more inventive than others). If you are a homeowner make sure you understand their policies in regards to equity and, importnantly, how they calculate it --- this is important and can meke a big difference. Do not be fobbed off with vague answers.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Lots of information is required, depending on your circumstances.
Proof of income, proof of creditors, bank statements, asset valuations, redemption statements for any secured creditors etc etc.
Once you have decided that an IVA is the right route for you and been advised of the same by a licensed IP then it should take a couple of weeks to put the proposals together (if you are proactive in handing over the information they need) and then creditors have to be given at least 2 weeks notice of the meeting.
Hi, I recently had an iva accepted with stepchange. It took 7 weeks although I understand it can be done quicker this seems to be their average time. Had to send last statements of all debts, recent bank statement and last 3 months pay slips. They sent me outgoings form to complete. At least from time you apply you can let creditors know that you have applied, some of mine then put my account on hold. Good luck
Hi.. i also had my İva approved recently.. i had my first telephone appointment on the 7 th february.. and iva approved on the 3rd of April.. i also provide payslips, utility bills,and questionery for outgoings. Good luck
