Do phone contracts have to be included in an IVA?

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kelly202

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Post by kelly202 » Tue Sep 15, 2020 6:06 pm
Do phone contracts have to be included in an IVA? If they do will my phone then be blocked so i cant put a new sim in or even transfer my stuff to a new phone? Im ebetering in an IVA next week and I'm worried im going to lose everything on my phone.

kallis3

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Post by kallis3 » Tue Sep 15, 2020 6:18 pm
Do you owe money to your mobile company? If it is included in your expenses you should not have a problem. Is it your creditor meeting next week?
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kelly202

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Post by kelly202 » Tue Sep 15, 2020 6:29 pm
Thank you, im currently not behind on my payments for any of my contracts i have with 02, but i will once the IVA is set up, yes the meeting is next week. But they automatically told me my mobile would be included in this.

kallis3

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Post by kallis3 » Tue Sep 15, 2020 7:01 pm
It should be included in your expenses. Which company are you with and why have they said it should be included.
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.
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Foggy

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Post by Foggy » Tue Sep 15, 2020 7:14 pm
Up to date mobile phone contracts are not normally included in an IVA, unless, as in one recent case you are short on creditors ( You need at least two creditors and three lines of credit ). I suspect that, if they are fishing around to make up the numbers, that an IVA might not be the correct solution.

How much do you owe, how many creditors and how much are you looking at paying the IVA each month ?

Are you, by any chance, going with CF ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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kelly202

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Post by kelly202 » Wed Sep 16, 2020 6:48 am
I have lots of loans and creditors, plenty to make the IVA, i have 34 credit cards and 2 loans alone, im in 20k of debt. Im with hanover insolvency, i have asked them to ring me today so we can talk about this, but they said all debt on credit has to be included. They are wanting me to pay 430 a month, because one of my loans is with Amigo and they still want 100p to the pound.

kelly202

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Post by kelly202 » Wed Sep 16, 2020 6:49 am
Sorry thats 4 credit cards not 34

Foggy

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Post by Foggy » Wed Sep 16, 2020 6:50 am
Just as Council Tax started to be included not so long ago, maybe they are turning their attention to mobile phone contracts now !! I hope not !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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kallis3

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Post by kallis3 » Wed Sep 16, 2020 7:53 am
I hope not as well. Mine was included as an expense. To the OP - could you change to sim only if they refuse to let you change it.
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

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Post by Foggy » Wed Sep 16, 2020 9:07 am
Wed Sep 16, 2020 6:48 amkelly202 wrote:
I have lots of loans and creditors, plenty to make the IVA, i have 34 credit cards and 2 loans alone, im in 20k of debt. Im with hanover insolvency, i have asked them to ring me today so we can talk about this, but they said all debt on credit has to be included. They are wanting me to pay 430 a month, because one of my loans is with Amigo and they still want 100p to the pound.
Kelly: Might I suggest that you hold off on an IVA and put in an affordability complaint against Amigo instead? If you win that (and 86% of cases are being won at the ombudsman!) it could transform your finances. And your guarantor would be released. In an IVA the guarantor will become responsible for the whole Amigo debt. See https://debtcamel.co.uk/how-to-complain-guarantor-loan/
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

kelly202

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Post by kelly202 » Wed Sep 16, 2020 5:41 pm
Oh I've never heard of that thank you, i will look into this. Hanover said it won't affect my guarantor as they will still be recieving all of their money as their loan will be prioritise over the rest, and they will still recieve the full amount of what i owe, but just not the interest on top, they said as long as they still recieve payment either equalling or more than i already pay then they have to agree and abide. Is this not correct?

Foggy

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Post by Foggy » Wed Sep 16, 2020 5:58 pm
Hanover might have experience of dealing with Amigo. Anecdotally they are vicious creditors and I would not bank on them not pursuing your guarantor for the interest element. I also have doubts about Hanover saying "their loan will be prioritise over the rest" --- the whole ethos behind an IVA is that all creditors are treated equally.

The level of IVA payment is supposed to be set by the amount that you have as disposable income. NOT whatever amount is required to pay 100% of the debt. If you can afford to make, as Hanover put it, "payment either equalling or more than (you) already pay", you should not be entering an IVA. And they do not "have" to agree, they are just more likely to.

Have you spoken to any other providers to compare advice ? If not, I would suggest you do. Hanover might be right for you and you struck lucky on the first call, but we always advise to speak to a few firms before committing ... once you sign up you are stuck !
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

kelly202

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Post by kelly202 » Wed Sep 16, 2020 6:26 pm
You have been very helpful, thank you so much, no i havent spoken with anyone else. Hanover told me my monthly oayments to them would be less if it wasn't for the amigo loan as they too have said they are not very nice to deal with which is why they said as long as they recievw 100p to the pund they will agree and not force my guarantor to pay, this was my main concern about doing an IVA as i do not want my guarantor to be affected by this, hanover said they may still try and contact them to see if they can oay anything, but they can't force them too as long as they are recieving my money through them.
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