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.
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
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?
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
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
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.
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.
Hi! I used to work for one of the UK's biggest Insolvency Practitioners - I don't work for an IP anymore but still have an extensive knowledge of the IVA industry. How can I help?
