About to start our IVA journey

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by Itsallouttherenow » Sat Mar 03, 2018 7:21 pm
I very recently posted about my situation and how I had kept 70k of debt secret from my husband. I confessed and a weight was lifted.
We have discussed our options and were looking to sell our fkat. But due to onmy having 56 years left on our lease this is not an option. Also our relationship wouldn't have survived.
I confessed to my oarents and he had hoped that they would bail us out. But they wont. They can't as just retired.
So we have decided to go down the IVA route for sure. I have done a debt remedy tool with Step change and emailed requests for call backs from payplan, ckeardevt, and a few others. Just need to speak with somebody now!
My first out of probably many questions....how long does it usually take to set up? We would both be doing an IVA and maybe an interlocking IVA.
Also, any experience with the above companies?
Many thanks and all previous responses I've had on here have been very helpful.
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by kallis3 » Sat Mar 03, 2018 7:30 pm
Speak to several companies - you can see reviews of various companies if you look around the forum.

I believe Cleardebt were sold to Aperture last year.
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by Foggy » Sat Mar 03, 2018 8:15 pm
Personally I would not go with the IVA factories, and Payplan have their own way of dealing with things (not always in a good way). I would suggest the number in the top right of the screen would be worth a call too.
Assuming you get the requested details and paperwork back promptly it usually takes around 2 months to get an IVA set up and running.
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by J5453 » Sat Mar 03, 2018 9:18 pm
I’m with Payplan and near the end of a 6 year IVA.

Set up was reasonably straightforward and annual reviews easy enough with just wanting 3 months payslips and a P60. If any changes to expenditures particularly increases they will want documentary evidence. Apart from that I don’t hear from them until the next yearly review.

I did need to get a variation put in place as I had no equity to release in the last year of the Iva but this was realised early on rather than a surprise. The variation meeting went smoothly so I couldn’t fault them with that.

One thing to bear in mind from my experience is that I’ve had 4 IP’s along the way and you don’t know the change until they contact you on your review.

I’m prepared to do some chasing as I near the end to get my completion certificate but having been in gear a little while, it would appear that most companies fall short of being forthcoming with this part of the process.

Speak to a few companies and see which one you feel comfortable with.

Well done on taking the first step of becoming debt free. I didn’t find this forum until late on but I would say to you, any issues, any problems then keep in touch with this forum. There is some really great support on here. You are not alone on this journey.
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Posts: 142
by bridgey » Sat Mar 03, 2018 10:47 pm
Good luck. The first step is the hardest, and you’ve made that.

(Not sure if allowed, but) were with Angel Advance and they have been superb, can’t fault them.
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Lisa Thomas
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by Lisa Thomas » Tue Mar 06, 2018 4:36 pm
It depends how proactive you are but say you sent them all the paperwork back in one go it should not really take more than 1-2 weeks for them to send you draft proposals for your consideration.

I'd be happy to chat to you.
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