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Lauren1995

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Post by Lauren1995 » Tue Jan 19, 2021 7:13 pm
Hey guys an update I haven’t yet contacted CF yet as I don’t know how I would explain it, I’ve just waiting for my provisional license to come back now. But the work situation is getting worse really struggling. I’m paying 240 In travel a month, this wtw would really help. Just I don’t how to explain to CF could someone help me draft up a maybe a Email to sent CF thank you

kallis3

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Post by kallis3 » Tue Jan 19, 2021 7:35 pm
Just tell it like it is. You're being truthful and it is going to help you and your IVA in the long run.
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

Lauren1995

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Post by Lauren1995 » Wed Jan 20, 2021 6:19 am
Do I email them or is it better to ring them

kallis3

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Post by kallis3 » Wed Jan 20, 2021 8:59 am
You can phone but follow it up with an email so you have it in writing.
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

Lauren1995

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Post by Lauren1995 » Wed Jan 20, 2021 1:40 pm
So a proper update :) I’ve spoke to CF on the online chat and explain how it will benefit me and how I’m currently struggling with transport, they said I can apply for it but I must send details about it so like how it works and the cost. They want to review it and discuss it with the IP so like I’m not breaking any terms or anything and be to on the safe side, I’ve sent screenshot and stuff explaining it and how it works from wtw site, but it’s looking promising, soo fingers crossed, just waiting for a reply for CF :)

kallis3

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Post by kallis3 » Wed Jan 20, 2021 1:48 pm
Sounds good - fingers crossed for you.
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

Lauren1995

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Post by Lauren1995 » Tue Jan 26, 2021 10:13 am
Okay they got back to me, they need 3 months bank statements and payslip and information about the loan scheme
I’m worried tho because my bank obviously shows people sending me money, a friend of mine has been supporting me financially with my transportation I did put that in the email but now I’m soo worried. That my Iva will be broke. :(

kallis3

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Post by kallis3 » Tue Jan 26, 2021 12:06 pm
Just explain it to them. Your friend could also supply evidence of what she has been doing and that it is not a loan.
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

Lauren1995

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Post by Lauren1995 » Tue Jan 26, 2021 2:25 pm
Okay I put to them “ Hey thank you for getting back to me, its a moped loan Scheme which helps me get to work, the moped loan will be £30 a week but will be 120 a month, they put me though my cbt, everything is included in the monlthy payment tax, Insurance, even safely Equipment and Including the moped.it’s only for 6 months, everything you need to know is below, I would benefit from it because I’m a key worker but currently struggling with transport and it’s costing me a lot and people are currently helping me financially with transportation. Be able to apply for this is cheaper for me transportation wise and money wise.
Everything you need is below thank you”

Lauren1995

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Joined: Sun Jul 07, 2019 7:42 pm

Post by Lauren1995 » Fri Feb 05, 2021 2:07 pm
Okay so everything is looking okay, they want to increase my Iva by £19 which I don’t have a problem with. I was Enquiring about the wheels to work and one step Requires me to join a credit union in case I wanna buy the bike from them at the end of my loan but I won’t be .. erm what’s a credit union and am Am I allowed to join?

Foggy

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Post by Foggy » Fri Feb 05, 2021 2:58 pm
A credit union is like a community bank, where you save a certain amount regularly and can then borrow an amount based on the savings amount in an agreed time frame, if you wish. So they lend money deposited by other savers.

You would be allowed to join, by your IP --- but probably not to borrow.
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

Lauren1995

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Post by Lauren1995 » Fri Feb 05, 2021 3:12 pm
Fri Feb 05, 2021 2:58 pmFoggy wrote:
A credit union is like a community bank, where you save a certain amount regularly and can then borrow an amount based on the savings amount in an agreed time frame, if you wish. So they lend money deposited by other savers.

You would be allowed to join, by your IP --- but probably not to borrow.
So can I join? I won’t be even using it, it’s just the step in case I want to buy the moped at the end of the loan scheme? Which I won’t be.

Foggy

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Post by Foggy » Fri Feb 05, 2021 3:45 pm
Fri Feb 05, 2021 3:12 pmLauren1995 wrote:
Fri Feb 05, 2021 2:58 pmFoggy wrote:
A credit union is like a community bank, where you save a certain amount regularly and can then borrow an amount based on the savings amount in an agreed time frame, if you wish. So they lend money deposited by other savers.

You would be allowed to join, by your IP --- but probably not to borrow.
So can I join? I won’t be even using it, it’s just the step in case I want to buy the moped at the end of the loan scheme? Which I won’t be.
As long as the CU accept you, yes.
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

lifenoteasy

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Post by lifenoteasy » Fri Feb 05, 2021 3:51 pm
Agree with Foggy - as long as the CU accepts them.

Good for saving BUT under no circumstances borrow from them - loans are made from the deposits of other members. If someone defaults, they have to get the full amount back if possible.

That is why CU's never accept an IVA.
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.

Lauren1995

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Joined: Sun Jul 07, 2019 7:42 pm

Post by Lauren1995 » Fri Feb 05, 2021 5:06 pm
I spoken to CF about it and they said that usually no, but with it being with the moped loan scheme, they told me to email the part where it says about joining the chesterfield credit union to the people handling my case so I guess they can see if my ip will accept it, I feel like I’m going around in circles seriously, nothing but waiting all the time to be completely let down :(
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