I am just starting my application

Get expert opinion. This is the place for new questions to be posted.
27 posts Page 2 of 2

Louise86

Posts: 11
Joined: Wed Jul 21, 2021 6:40 pm

Post by Louise86 » Sun Jul 25, 2021 4:55 pm
Thank you Kallis3,it sounds utterly horrendous so no I won’t be doing those,I just wondered opinions on it.
I’ll definitely be sticking with the IVA route.

kallis3

User avatar
Forum Expert
Posts: 77066
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Sun Jul 25, 2021 5:04 pm
We'll be with you every step of the way with support and advice.
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

Louise86

Posts: 11
Joined: Wed Jul 21, 2021 6:40 pm

Post by Louise86 » Tue Jul 27, 2021 11:53 am
Apologies if I’m repeating myself, just so much Info to take in at the mo.

I’m by no means going to have lots of money, but what I do have,am I allowed to save my money to go to a wedding in London next year?
Or is it something I will get into trouble for?

Foggy

User avatar
Posts: 33399
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Jul 27, 2021 12:00 pm
You can save a modest amount from expense allowances. Also you can save any of your share of extra earnings ( overtime, bonuses, etc).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

IVA info

Posts: 13
Joined: Fri Jul 30, 2021 10:38 pm

Post by IVA info » Fri Jul 30, 2021 11:41 pm
IVAs are good for the correct people but they have been taken advantage of vulnerable people , the press and regulators can not be wrong,

just google

FCA BROKEN IVAs
Citizen Advice mis sold IVAs
joe cook Britain's next biggest mis sale scandal
money mail online IVAs scandal

There is lots more and 1000s of cases

However IF YOU UNDERSTAND your IVA then you will be aware of the IVA , by the way the nominee (IP) has a duty to make sure you understand the IVA and he/she has informed the court they have done this with you, if not then you may be like one of the above.

Did you sign all documents ? or just one and dont no what you signed because your signature was pre populated into court document ?

But if you understand it and know what your getting into then its fine, take a look at windfall, overtime, also credit fix have a clause in many IVAs that lets them do a pension review at 50% of your pension plus 15 % realisations if you have transferred it, this meaning you can lose 65% of your pension before any money goes to your creditors.

So it goes back to make sure you understand what your IVA proposal states and then it may be the best solution for you or worst as above shows.

Hope that helps

Louise86

Posts: 11
Joined: Wed Jul 21, 2021 6:40 pm

Post by Louise86 » Mon Aug 02, 2021 8:24 pm
Well I’ve totally screwed it.I’ve had to use my credit card for gas,electric and fuel.I’ve spent about £50, I couldn’t borrow off anyone,I have no other money.I had no choice.I’ve paid all my minimum payments this month as usual as I wasn’t aware I could not pay them once my application had been made.
So I’ve been advised that my IVA will probably now be rejected due to this.
I’m at the end of my tether now.I’m barely even surviving.Trying to keep this hidden from all my family and I thought I could just about make it through to the creditors meeting date.Now I’m totally screwed.Whats left?bankruptcy?ive never felt lower or more scared.

My intention is to go pay the £50
I’ve used when I get some more money next week.

kallis3

User avatar
Forum Expert
Posts: 77066
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Mon Aug 02, 2021 9:23 pm
That's rubbish that it will make any difference to your application. A lot of people continued paying when they could although you do not have to do so.

Explain to your IP company what has happened and why.
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
Posts: 33399
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Aug 03, 2021 9:30 am
Many use credit, up until the IVA is approved, just to live ! It would be a different matter if you had just paid for a holiday abroad or a new TV ! Don't panic !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Louise86

Posts: 11
Joined: Wed Jul 21, 2021 6:40 pm

Post by Louise86 » Mon Aug 16, 2021 9:03 pm
So My meeting of creditors happened today.I assumed I would have received a call but nothing 😫so I’ve no idea if it’s been successful or not.So stressed.I’m with credit fix and on the app it just says my monthly amount and how long for..no updates or anything.Was hoping this whole thing would be confirmed today.

kallis3

User avatar
Forum Expert
Posts: 77066
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Aug 17, 2021 7:16 am
You should have heard something one way or the other, CF are not good at communications. You need to chase them up this morning to see what they say.
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
Posts: 33399
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Aug 17, 2021 8:33 am
CF have a history of not getting back to consumers and do need to be chased. Do not panic if the excuse they offer is that the meeting has been adjourned --- this is usually because of the fees they are quoting and creditors do not like them. CF often 'win them round', or will shuffle you off to Logan Whyte - a firm they have close ties with who, happily, charge less (convenient that !).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

SteveUK

User avatar
Posts: 136
Joined: Fri Sep 28, 2012 10:37 am
Location:

Post by SteveUK » Tue Aug 17, 2021 12:31 pm
Thu Jul 22, 2021 7:13 amFoggy wrote:
Some say refuse to answer the security questions, then they are unable to proceed --- never tried that one myself.
I used that, a lot, during the transition period at the start.

"Sorry I never answer security questions over the phone, I'm sure you understand" worked brilliantly. They then stop the call or act all hurt "But I'm only trying to help you" they whine.
27 posts Page 2 of 2
Return to “Ask IVA Forum and Industry experts”