www.iva.co.uk

Hello,

I have been making monthly payments to my creditors for the past 12 months (although there was one missed payment in that time) as my IVA was refused.

My main creditor by quite some margin is Northern Rock.

Now 12 months has passed, I am suddenly getting telephone calls from Eversheds telling me they are not interested in monthly payments for the Northern Rock debt and are asking for the entire unsecured loan of 28k or so - and will start proceedings to get a county court judgement.

I do not own anything of value, have no way of paying back even 1k let alone 28k in any lump sum, so I am wondering why they are suddenly doing this? Any ideas ?

I spoke to Payplan and they said just to sit tight and if needs be go to court, but what's bothering me is their reasoning as by my estimation looking at my costs versus income now and last year my payments may actually need to go down a bit...

Many thanks,

Andrew

Hi ther. I am in an iva so am winging it a bit here, Melanie will correct me where I am wrong. If eversheds now have the debt from n rock could you not propose another iva now which may well get the vote if it is eversheds.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

Hiya - Sorry, I should have made myself clear. As far as I am aware, Eversheds haven't bought the debt they are acting under the instructions of Northern Rock. Payplan have advised it is pointless to try an IVA again as Northern Rock are refusing every single IVA request and have been for quite some time.

All the best,

Andrew

Oh I see, I thought they had bought the debt from northern rock. Hopefully northern rocks stance on iva's will change soon.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

It might be worth taking advice from another company (I would recommend Melanie) as from what I understand while NR don't agree to many IVAs, they don't refuse every single one.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Talking about Northern Rock

I watched the news tonight and if Northern Rock end up not paying the goverment back, in real terms that means Northern Rock as cost each tax payer £2000.

I did not owe any money to Northern Rock, but this makes my blood boil.

They reject IVA'S all the time but in return when they are in difficult times they basically expect us to pay of their debt without it costing them anyhting.

I think if any one from Northern rock reads the details in the forumn, they should log on and starting answering some questions!!!!

no matter how bad money gets, theirs stll alot more important things in life

Northern Rock most certainly are not rejecting all IVA proposals, but they are only going to accept those that they feel present the best outcome for them.

If they have already refused to accept an IVA, and you do not feel that you are getting anywhere with the DMP, is bankrputcy now not a better option? And are you a property owner with equity?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi

For your piece of mind by debt for NR was similar to yours, they refused me 6 mths ago, two days ago they accepted and I now have an IVA worth trying again. Hope this helps