www.iva.co.uk

Hi all.

Got my IVA approved beginning of this month thanks to Melanie and her team. However heres the problem.

My wife has a single debt of £15k (probably now £16K) to LTSB on a credit card. It couldn't be included in my or a joint IVA as this was her only debt.

So in calculating my IVA, Melanie set aside an amount for us to pay LTSB as a DMP. My IVA went through OK so we wrote to LTSB to offer the payment.

I should say that previous to this we wrote to LTSB informing them of our situation 2 times and also spoke once to their foreign call centre. I Posted out payment proposal on the 21st October by recorded delivery. We have heard nothing. Additionally, we called to say we had posted a proposal and they said they would look into it. So yesterday we get the solicitors letter. 7 Days till court action.

I have again written today to both solicitor and copied in LTSB enclosing all the previous correspondence and posted recorded delivery.

I am now at my wits end. I just dont know what more I can do to offer to pay the debt. We have no assets and are in negative equity. We feel a moral obligation to pay back the money, but the only other option is BR for my wife.

Any ideas on how I can get them to respond to our offers ?


Cheers for reading all and hope you can offer some advise.

Flush.

ps. Melanie, if you read this, I didnt call you direct as I am concious that you are only representing me and probably have enough on your plate without me pestering you about a matter which you are not involved with.

Hi Flush,

Just to let you know that Melanie is away at the moment. I would give her office a ring anyway and ask their advice. I am sure they would be able to help you.

Hi Flush.
LTSB have in house solicitors Sechiari, Clark & Mitchell who may move to secure the debt. If that happens then your wife should seriously consider petitioning given that you have negative equity.
However, now that you have sent them all the information and copies of offers to repay, they may accept. If they do not and issue proceedings, complete the forms and send them to the court with the copy offer and a financial statement. The court may then order the monthly payment to be made which would prevent the debt being secured. If you receive an Interim Chrging Order against the property bankruptcy would prevent this becoming absolute. At the moment you are doing everything correctly and hopefully LTSB will accept the offer now and that will be the end of it. LTSB are a very large company and I have found that until cases such as your own land on the right desk, it is difficult for someone to make a decision.
Do not worry about speaking to Melanie or her staff about your wife's problem as they are there to help and may be able to pull a few strings at LTSB. If not and you receive any further action please let us all know. What I would suggest is not to pay at the moment until someone agrees to accept your wife's offer and to keep aside the money to petition at short notice if required. Hopefully this will not be the case and keep us up to date.
Very best of luck.

Michael

Many many thanks for the reply.

It is Sechiari, Clark & Mitchell who have written to us. I have this morning posted copies of all previous correspondence to them via Recorded delivery and copied in LTSB, again via recorded.

We wrote to them 18th August, 30th September and 21st October.... all with no response.

BR scares the hell out of me as I know nothing of the process, but I just cant understand it. We are offering to pay and they are ignoring us.

I'll think I'll bang my head against the wall all weekend, if we dont hear anything I'll give Melanie's team a call on Monday.

Once again, thanks for the reply.

I'm sorry to hear about the problems that you and your wife are having Flush and I hope you can soon get them sorted out.

Please don't be scared of BR, as Michael says it's something that's definitely worth considering if LTSB go for charging order. As you have negative equity in your property a third party would be able to buy the beneficial interest for £211 (£1 plus costs). I was scared when I went BR, but it really wasn't as bad as I thought it would be.

Good luck xxx

Well 2 more letters sent to them via recorded delivery as still nothing. I have resigned myself to getting the court papers now and see what the courts say. I just cant understand why we are being ignored. You would have thought that they were keen as mustard to start getting money in.

FINALLY!!!

The nighmare is over. My IVA is up and running and LTSB went for my wifes DMP proposal.

The best damn christmas present I have ever had!!!

Once again... thanks to Melanie and her team. My life starts again from now!!

That's brilliant news Flush! So pleased for you both.

Have a great Christmas, and all the very best for 2009.

What fantastic news after all that worry.

Im so pleased for both of you.

Best of luck in the future xxxxx

That's really good news Flush, I'm really pleased for you and your wife x

Ah that's so great Flush, I'm made up for you and your wife. X

A great result all round, and now you can enjoy Christmas without the worry of unaffordable debt. Very well done!

what great news flush...i think everyone who gets IVAs approved in run up to christmas must have a great season of goodwill....having it all up and running for the new year is fantastic

Thats brilliant news for you and your wife, happy christmas and welcome to your new life.

That's fantastic news Flush, now you and your wife can relax over Christmas......And start the New Year with a positive outlook

xcx