NEWBIE

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

JMW1969

User avatar
Posts: 81
Joined: Tue Jun 15, 2010 8:19 pm
Location:

Post by JMW1969 » Tue Jun 15, 2010 8:23 pm
Hi everyone
just started on iva journey- currently sending all creditor info to Andy at Vincent Bond- good to see lots of you are surviving out there and theres life after debt. Has anyone had trouble with payday loans and getting info from them re account numbers and balances.
 
 

artemischild

User avatar
Posts: 852
Joined: Tue Jun 01, 2010 11:04 am
Location: United Kingdom

Post by artemischild » Tue Jun 15, 2010 8:26 pm
Hay there JMW and welcome to the forums!

I only found this place a few weeks ago and its been a right life saver! nothing like having a good moan with others in the same boat! also great to those that have been throught the process and come out the other end alive!!

I never used payday loans before my IVA so sorry i cant help there!

Best wishes
Drew
IVA completion and certificate received 08/10/2012!!!
 
 

kallis3

User avatar
Forum Expert
Posts: 77170
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Jun 15, 2010 8:31 pm
Welcome to the forum.

I know one or two posters have used them in the past so hopefully they can come on and help.

Do you have any of the paperwor done when you took the loans out with account number on?
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
 
 

JMW1969

User avatar
Posts: 81
Joined: Tue Jun 15, 2010 8:19 pm
Location:

Post by JMW1969 » Tue Jun 15, 2010 8:34 pm
they are all done online but do receive emails when they default- will the debt advisors and IP chase them if i have a balance and some addresses?
 
 

kallis3

User avatar
Forum Expert
Posts: 77170
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Jun 15, 2010 8:39 pm
I think they may try to chase them for you.

Andy will probably be on later with some advise.
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
 
 

JMW1969

User avatar
Posts: 81
Joined: Tue Jun 15, 2010 8:19 pm
Location:

Post by JMW1969 » Tue Jun 15, 2010 8:47 pm
THANKS DREW AND KALLIS.
Still feeling unsure of outcome because debt to be written off will only be about 20% so not 100% certain they will vote iva. dmp has failed = paid in to it for 9 yrs but got more debt-this is our best option- just want some reassurances really but its a guessing game till final outcome i suppose . xx
 
 

kallis3

User avatar
Forum Expert
Posts: 77170
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Jun 15, 2010 8:50 pm
You've picked a good debt advisor with Andy, he will help you get sorted, and 20% is better than the creditors would get in bankruptcy.
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
 
 

JMW1969

User avatar
Posts: 81
Joined: Tue Jun 15, 2010 8:19 pm
Location:

Post by JMW1969 » Tue Jun 15, 2010 8:53 pm
creditors will get approx 80% of total debt so andy said they may vote dmp but as its failed so far then this stands a better chance than them making me pay a bit longer and them getting 100%
 
 

artemischild

User avatar
Posts: 852
Joined: Tue Jun 01, 2010 11:04 am
Location: United Kingdom

Post by artemischild » Tue Jun 15, 2010 8:54 pm
well when its voted on it needs, as i understand, 75% of the vote in favour, this is worked out by the amount you owe, ie if you owe 20k in total, 10k to one bank, 5k to a card and 5k to another you would need the bank and one card to agree then the other card has to agree etc, obviously its much more complicted than that, with pence and pounds and decimal points all over the place (as you can see......i dont do maths hence the very basic breakdown lol!)

Anywhoodle hope you get it all sorted soon! I did DMp for a loooong time before the IVA and it seemed like there was no end in sight as many creditors still added default payments or refused to freeze interest etc, at least with the IVA i have a start date and an end date!

Drew
IVA completion and certificate received 08/10/2012!!!
 
 

kallis3

User avatar
Forum Expert
Posts: 77170
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Jun 15, 2010 8:58 pm
Sorry, I read that wrong JMW - that's a good return so I don't think you will have any problems.

It's 75% by value of the creditors who vote on the day. Not everyone will vote.
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
10 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”