Brand New

Get expert opinion. This is the place for new questions to be posted.
12 posts Page 1 of 1

NorthwestDave

Posts: 4
Joined: Fri Dec 04, 2020 12:54 pm

Post by NorthwestDave » Fri Dec 04, 2020 1:03 pm
Hello all, I have stumbled upon this forum this morning, I have had a look through for advice. This looks like an excellent place to come for the best advice. I started my Stepchange IVA request last week, however yesterday on a call with hem I was told I would have to resubmit all the information as me and my wife are now looking at dealing with our debts separately as we don't qualify for joint IVA? I have never been in bad debt before as I had my own company working for myself until January this year. I now owe £38,000 :cry:
I am waiting for the IVA department of stepchange to get back to me. Hopefully this will sort my life out as I am beginning to lose sleep with worry.
sorry to make such a long post to say hello!

Foggy

User avatar
Forum Expert
Posts: 32774
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Dec 04, 2020 1:50 pm
Hello and welcome. Stepchange do run a fair IVA, as long as they actually do keep it on their books --- they sometimes farm them out to other firms, but should inform you first.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

User avatar
Forum Expert
Posts: 76727
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri Dec 04, 2020 1:56 pm
You would be looking at either a separate IVA each or an interlocking one.
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

luluj

User avatar
Forum Expert
Posts: 11157
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Sat Dec 05, 2020 4:35 am
Welcome to the forum, please feel free to post your questions on here. We have all been where you are now so understand how and what you are going through.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

NorthwestDave

Posts: 4
Joined: Fri Dec 04, 2020 12:54 pm

Post by NorthwestDave » Tue Dec 08, 2020 2:27 pm
Fri Dec 04, 2020 1:56 pmkallis3 wrote:
You would be looking at either a separate IVA each or an interlocking one.
Hello, thankyou for the reply. Stepchange have said the only option for my wife is a TPP, as they have said they look at income separate even though we share all finances etc, they said it is simply not possible to give her the option of IVA or look at an interlocking 1. So it looks like we will have to go down the route of an IVA for me and the TPP for her for the moment :(

kallis3

User avatar
Forum Expert
Posts: 76727
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Dec 08, 2020 3:09 pm
Pardon my ignorance, but what is a TPP? I have only heard of a DMP.
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

Foggy

User avatar
Forum Expert
Posts: 32774
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Dec 08, 2020 3:33 pm
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

User avatar
Forum Expert
Posts: 76727
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Dec 08, 2020 4:00 pm
Could be.
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

lifenoteasy

User avatar
Posts: 3237
Joined: Thu Feb 05, 2015 2:26 pm
Location: United Kingdom

Post by lifenoteasy » Tue Dec 08, 2020 4:42 pm
The overall advice from Stepchange seems to be that your partners situation could be viewed as short term, and subject to positive change.

Having a DMP or IVA in place could hamper that positive change.

The damage will still be done in terms of their credit record BUT it would still be better than other arrangements (if accepted).
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.

NorthwestDave

Posts: 4
Joined: Fri Dec 04, 2020 12:54 pm

Post by NorthwestDave » Wed Dec 09, 2020 2:06 pm
Tue Dec 08, 2020 3:09 pmkallis3 wrote:
Pardon my ignorance, but what is a TPP? I have only heard of a DMP.
Hello yes a Token Payment Plan.

NorthwestDave

Posts: 4
Joined: Fri Dec 04, 2020 12:54 pm

Post by NorthwestDave » Wed Dec 09, 2020 2:10 pm
Hello, I have just had a call to arrange an appointment with Stepchange VA, I asked the lady on the phone in regard to an interlocking IVA and she seems to think I was given the wrong information. She said they should be able to set up the interlocking IVA no problem. We have the appointment for 15th December so I will keep you posted. Thank you for this forum, it has been and im sure will keep being a great help.

kallis3

User avatar
Forum Expert
Posts: 76727
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Wed Dec 09, 2020 3:00 pm
Let us know how it goes.
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
12 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”