Should I sign iva?

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natalie446

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Post by natalie446 » Sun Mar 01, 2020 7:44 am
Should I sign iva I'm going out my mind with worry

luluj

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Post by luluj » Sun Mar 01, 2020 8:35 am
Please provide a few more details ... have you just enquired about an iva or have you had your creditors meeting and been asked to sign the chairmans report?
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

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Foggy

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Post by Foggy » Sun Mar 01, 2020 9:36 am
At the end of the day it has to be your decision. Have you spoken to more than one provider ? Have you looked at the other solutions ? Have you fully researched the solutions ?

What, in particular, is troubling you ?
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

natalie446

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Post by natalie446 » Sun Mar 01, 2020 9:58 am
Hi om new to all this but I feel I'll and that my marriage is falling apart and I just need to know I'm not alone. I've never been in huge debt used my credit card a few times when things got bad but allways paid it back. Kids at school now so 2 years ago decided I wanted to go back to work but getting a job was a nightmare especially school hours. Then the shop my mim worked in her gaffa wanted out of te shop and go into something else. He asked my mum if she wanted to buy stock etc she couldn't do it but she asked me and been as I needed work and I knew the job from previous experience I thought why not so got hubby on board. Only thing is couldn't get a loan so had to take money off credit card but with no interest fro a year I thought I would pay alot of it off. Anyway as soon as I'd paid the money out signed contract for shop it all went down hill fast due to a number of things so paid some off borrowed a bit more off other card had to have a second car so it all added up and high street footfall went down so fast we struggled. Which ti me was not good as in 2015 I was diagnosed with atrial fibrillation which is a condition of the heart and stress is abit no no. So anyway had to sell shop in 2018 and paid what I could from shop but then money ran out and struggling so decided to go on a iva which I'm at the start of just got to sign it now but I feel physically sick we struggle every day as it is and now having to pay something else out. I'm so down and keep crying and hubby been in debt before due to redundancy. I'm just under 12000 in debt on cards and they want to put my studio in which I've always paid on time and now they said I had to put 200 over draft in which I never use but that the iva wouldn't except it otherwise? I'm so confused I feel like I'm losing my mind.

Foggy

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Post by Foggy » Sun Mar 01, 2020 10:13 am
If you never use the overdraft just get rid of the facility --- the bank will withdraw it anyway when you go into an IVA. Who told you to include it in the IVA ? Did they mean use it, run up the £200 then include it ? Which is dodgy advice, to say the least.

You say the IVA payment is "now having to pay something else out" .... but it will be the only debt repayment you have to make. Most of us were actually better off in the IVA than before it --- but it depends on your attitude and willpower.

Studio -- I take it is your studio mail order account .... this will have to be included .... all debt has to be included .... and you will not be allowed to use it again.
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

natalie446

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Post by natalie446 » Sun Mar 01, 2020 10:24 am
Yes apparently the 2 credit cards and studio account was my only debts but with this certain iva practitioner they wanted 4 creditors? But uve been with my bank since I was 6 had over draft since I was 18 and never used it but they needed that to put my case forward and now I'm worried is I dont have debt with bank. You ask for help and they say stuff like this? Surely I can just put the 3 main debts forward to another iva practitioner?? That's why I havent signed yet. Going out my mind with worry.

natalie446

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Post by natalie446 » Sun Mar 01, 2020 10:36 am
My hubby is also on iva nearly 3 years now he lost his house that we lived in due to being made redundant twice over a few years. And this man who I spoke to told me not to tell the iva I was joining? To me it's all lies and dodgey and i just wanted some help and guidance to help me with this situation and get it sorted and in the right track so I could live again and not have loads a phone calls a day. And this is with a very well known charity? Just making things worse and not getting better for me at all. Should I just go with another practioner?

Foggy

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Post by Foggy » Sun Mar 01, 2020 11:29 am
I would definitely have a chat with another provider and advise everybody to do so, to compare advice and see who you gel with. Personally I do not like the big firms for IVAs -- they suit some people but the 'factory approach' doesn't suit me.

I cannot recommend particular providers, but we have an IP who regularly posts here: Lisa Thomas, as well as the phone number at the top of the screen here.
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

kallis3

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Post by kallis3 » Sun Mar 01, 2020 12:01 pm
It does sound a bit dodgy and I echo Foggys advice.
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

natalie446

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Post by natalie446 » Sun Mar 01, 2020 12:09 pm
Yes they have put me with a big firm and I have had none stop emails about signing since thursday and all over weekend. I want the people who I go with no everything I dont want to lie but this man I spoke to for help kept saying just do this for now and you will be ok? I need help not to get into further trouble. I'm going to look into small iva companies and have a chat to them about everything. I was just told by credit cards to get in contact with step change or citizens advice and they put me in contact with this big firm they have already took money from me and I havent even signed with them or had the ok from creditors? Surely that's not right at all?
Thank you for the advice much appreciated

kallis3

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Post by kallis3 » Sun Mar 01, 2020 12:17 pm
A smaller firm would be better and more personal - I am sure Lisa Thomas will pick up on this next week and you could also speak to Mcambridge Duffy who have helped many posters on here.
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 » Sun Mar 01, 2020 12:18 pm
That is alarming -- no reputable firm should take any money upfront !! Some will ask to hold the first payment so that it can be paid in the day of acceptance, but none need you to do this and will be quite happy if you don't.

Creditors recommend Stepchange and / or Payplan because these firms are funded by the banks. To be fair, Stepchange do seem to run a fair IVA, but they also have ( or at least used to) the habit of passing cases onto a private firm. CAB used to refer to Grant Thornton ( now Aperture) a lot -- again, one of the 'big boys'.
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

natalie446

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Post by natalie446 » Sun Mar 01, 2020 3:51 pm
I'm just worried now as I am going to say I no longer need there services will I have to pay anything out even though I havent signed anything with this company? And then that's more debt I'm in. I'm going to citizens advice in the morning pour my heart out to them and see what happens. They was fantastic with my husband. I just want to start payments the sooner the better.

kallis3

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Post by kallis3 » Sun Mar 01, 2020 4:33 pm
You shouldn't have to pay anything out at all until your IVA is approved and if they ask for any then refuse to pay. Which company is it
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

natalie446

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Post by natalie446 » Sun Mar 01, 2020 4:38 pm
Its credit fix I now know they are one of the big companies I've had a further 2 emails today asking to sign they get in contact with me more than my creditors do. Hopefully once I've spoken to citizens advice tomorrow they can help out. If not I dont know what I'm going to do.
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