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by Foggy
Thu Oct 22, 2020 9:05 am
Forum: Ask IVA Forum and Industry experts
Topic: Wife's increased income
Replies: 2
Views: 119

A few firms will work on household income, Payplan being one of them (as an example, hopefully not yours) . I think this is wrong, but having accepted that deal from the IP you are stuck with it. There are some valid reasons ( say, if your own income was insufficient to support an IVA) -- but this s...
by Foggy
Thu Oct 22, 2020 8:50 am
Forum: Ask IVA Forum and Industry experts
Topic: Letter from Santander
Replies: 2
Views: 141

Are you or have you been in an IVA ? Who are Wilson and Tarif and why do they want the money? What is the £900 for ?
by Foggy
Wed Oct 21, 2020 5:00 pm
Forum: Ask IVA Forum and Industry experts
Topic: Settlement options
Replies: 6
Views: 176

Wed Oct 21, 2020 4:45 pmtim969 wrote:
Hi people thanks for the response and yes of course i meant IVA not DRO .......Credit fix are the company concerned??
That's the firm I had in mind --- they do this every time !
by Foggy
Wed Oct 21, 2020 12:02 pm
Forum: Ask IVA Forum and Industry experts
Topic: Settlement options
Replies: 6
Views: 176

It is your offer to make, not theirs. The majority of full and final settlements are based on remaining payments and their insistence on full settlement is driven by their own greed. Unfortunately the creditors will be guided by your IPs recomendations, so do examine the way they word the offer befo...
by Foggy
Wed Oct 21, 2020 6:54 am
Forum: Ask IVA Forum and Industry experts
Topic: IVA F&F accepted - now what?
Replies: 3
Views: 1035

Hi Foggy, Sorry for the late reply! Thanks so much for all the helpful responses to my questions. I had one further question if that’s ok? I currently have a Basic Bank Account. I don’t want an overdraft or anything like that but at what point might I be able to get a normal account? I assume this ...
by Foggy
Wed Oct 21, 2020 6:50 am
Forum: Ask IVA Forum and Industry experts
Topic: Rent or lease a car?
Replies: 2
Views: 211

Some finance companies will re-finance a balloon payment in an IVA --- but they are very few and far between. It is unlikely that you will get another finance agreement, but, if you find a company willing to entertain you, you will need the permission of your IP as well.
by Foggy
Tue Oct 20, 2020 8:01 pm
Forum: Ask IVA Forum and Industry experts
Topic: We took an iva out a year ago
Replies: 1
Views: 226

Have you asked them why they want this amount ? It looks like they want to settle the total debt as well as recover their fees. What you should be offering is a full and final lump sum based on remaining payments, which effectively gives creditors what they agreed to when they accepted the IVA. It s...
by Foggy
Tue Oct 20, 2020 7:08 pm
Forum: Ask IVA Forum and Industry experts
Topic: Savings again !!
Replies: 3
Views: 200

I would say that, as long as your expenditure on, say, food and groceries is well within the guideline figures, any savings you make by frugal living are yours. Therte is a distinction between living frugally by choice and being forced to be frugal. That all said, were I an IP, I wouldn't expect suc...
by Foggy
Tue Oct 20, 2020 2:56 pm
Forum: Ask IVA Forum and Industry experts
Topic: Getting married in an IVA
Replies: 1
Views: 216

Your IVA payment might increase a little as the expenses you now get ( in part) will be then shared by your future partner, freeing up some of your disposable income for the IVA. Do not enter into any joint accounts or have joint finances as you will show up on their credit files as financially asso...
by Foggy
Tue Oct 20, 2020 6:47 am
Forum: Ask IVA Forum and Industry experts
Topic: Equity question
Replies: 1
Views: 253

Basically --- Yes ! There is enough equity to trigger the equity release provisions. So, you will need to attempt to remortgage (or, according to which version Ts &Cs your IP used, obtain a secured loan). If you are unable to release equity the IVA will be extended by 12 months. You will not be requ...
by Foggy
Mon Oct 19, 2020 6:04 pm
Forum: Ask IVA Forum and Industry experts
Topic: Who to trust and what to do
Replies: 3
Views: 319

Have you now cancelled payment authorities to creditors and changed bank account ? And, are you now making the agreed payments ?
by Foggy
Mon Oct 19, 2020 5:58 pm
Forum: Ask IVA Forum and Industry experts
Topic: Who to trust and what to do
Replies: 3
Views: 319

You are being given mixed information ! It is common for creditors not to 'catch on' for a few months as the IVA filters through their systems -- covid has probably been slowing this process. It also takes a while to appear on the Register ( mine was 6 months!). The upshot is that, if the debts are ...
by Foggy
Mon Oct 19, 2020 4:36 pm
Forum: Ask IVA Forum and Industry experts
Topic: Fostering an an IVA
Replies: 1
Views: 285

When fostering there is an element of income in the allowances they award, and this is taken into the IVA calculations. However, the portion of the award specifically for the childs needs should be offset in your expenses allowances. It would be advisable to have a chat with your IP (and get any adv...
by Foggy
Mon Oct 19, 2020 3:27 pm
Forum: Ask IVA Forum and Industry experts
Topic: Credit card
Replies: 19
Views: 552

Hello barassix, just quick question how long had your iva been finished to show fantastic on credit report. Just curious really for when myself get towards the end Many thanks Will have to be at least 6 years from the start of the IVA ---- that arrangement sat on the files is a real dampener ! Have...
by Foggy
Sun Oct 18, 2020 11:20 am
Forum: Ask IVA Forum and Industry experts
Topic: Credit card
Replies: 19
Views: 552

Excellent -- use it wisely, Grasshopper :-)
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