Refused an IVA in the past

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em976

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Post by em976 » Thu Jul 16, 2020 11:32 am
I have been refused an IVA in the past due to my main creditor is Nationwide. I have been advised Nationwide will not accept IVA at all. Some of debt has been passed to Moorcroft debt recovery which I have been told they have not brought the debt however acting on their behalf.

Is there any help or advise?

kallis3

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Post by kallis3 » Thu Jul 16, 2020 11:35 am
Have you applied again? It maybe that Moorcroft will vote favourably.
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 » Thu Jul 16, 2020 11:38 am
speak to a couple of firms and see what their experience of Moorcroft is.
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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em976

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Post by em976 » Thu Jul 16, 2020 11:59 am
I believe Moorcroft don't own the debt. They are acting on Nationwide's behalf, so I'm unsure if Moorcroft or Nationwide will make the decision to agree/ not agree?

Thank you for coming back to me so quickly

kallis3

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Post by kallis3 » Thu Jul 16, 2020 12:03 pm
I think it will be Moorcroft but I'm not 100% sure on that. As Foggy says,speak to a couple of companies.
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

em976

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Post by em976 » Thu Jul 16, 2020 12:09 pm
Okay Thanks :0)

abbiesmum2003

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Post by abbiesmum2003 » Thu Jul 16, 2020 3:25 pm
Thats interesting as I had loan credit card and overdraft with nationwide so fair proportion of debt and iva was accepted although couldnt say for sure what voting percentage they had.
Hope you get a way forwards

em976

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Post by em976 » Thu Jul 16, 2020 5:39 pm
abbiesmum2003 - That is interesting!
Do you own your home (mortgage) or rent, if you don't mind me asking? also was this recently?

I have a mortgage with lots of equity (which I cannot get to as I don't have the earning power at present)
I assume this is the reason why

Thank you :)

abbiesmum2003

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Post by abbiesmum2003 » Thu Jul 16, 2020 8:26 pm
We had mortgage.
We took out IVA in 2013 (completed 2018).
I had loan, credit card and overdraft on current account all with Nationwide. All included in IVA.
We also had Barclaycard, Lloyds, Mbna.
We had to do equity release in 2018 which ended our iva.
We moved house about a month ago with a high street lender mortgage.

WallE

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Post by WallE » Thu Jul 16, 2020 11:03 pm
Moorcroft won't be voting, it will be Nationwide, or more likely their account servicing partner/voting agent.

Moorcroft are only attempting to collect the debt, they don't own it.

Just because your IVA was rejected before doesn't mean it would be again, every offer will be judged on it's own merit and your IP wouldn't put forward a proposal that they didn't think had a reasonable chance of success.

You never know what a creditor will vote on the day.

em976

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Post by em976 » Fri Jul 17, 2020 9:45 am
Okay, thank you to all for your comments...
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