So confused with who to go to. Help.

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Aisha
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by Aisha » Tue Oct 17, 2017 2:49 pm
Now sure which ip to go with. I have been in touch with Anchorage Chambers they have helped me alot and gave good advice. Just wanted to see if anyone else has used this company
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Foggy
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by Foggy » Tue Oct 17, 2017 3:10 pm
Swish website --- seems thorough. My only issue is that they seem to use the 2016 Protocol, which is OK save for the fact that, if you are a homeowner, you might have to get a secured loan to release equity. If you are a homeowner I would ask them to provide a written example of how they will calculate and treat equity, based upon current estimated values, for avoidance of doubt.
Aisha
Posts: 25
by Aisha » Tue Oct 17, 2017 3:18 pm
Thank you very much for your reply.
I have been informed by them as i have a joint mortgage and not enough equity in my property they wouldnt do that. Also as my rating is at the lowest it can be no one would offer me a secured loan. Should i try
mccambridge duffy as alot of people have had good experiences with them. I have been visting this site for over a month and finally made the first life changing phone call yestersay.
Aisha
Posts: 25
by Aisha » Tue Oct 17, 2017 3:26 pm
Also in the fifth year of an iva has anyon been been forced to remortgage to release equity?
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Foggy
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by Foggy » Tue Oct 17, 2017 4:03 pm
I apprciate that there might not be enough equity now, but that might not be the case in 5 years .... I would look poorly on them trying to gloss over a very essential element. A remortgage, at the moment, is nigh on impossible, but there are lenders who will lend for equity release regardless of your credit rating. so they are being a bit glib here.

McCambridge Duffy use R3 terms and conditions which do not force secured loans. I would recomment a chat with them, evebn if only to compare advice and see who you feel more comfortable with.

Currenty I have not heard of anyone being forced to remortgage .. in fact I have not heard of anyone being able to remortgage (but things change). At the moment the usual outcome is 12 month extension.
Aisha
Posts: 25
by Aisha » Tue Oct 17, 2017 4:16 pm
Thank u
I will give a mccambridge duffy a call and see what they say.
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MerlinL14
Posts: 1168
by MerlinL14 » Tue Oct 17, 2017 6:54 pm
McCD are real good providers. Any big issues like equity release needs to be explained in writing prior to you signing the proposal, things get 'lost in translation' after 5 years or so. Good luck.
Aisha
Posts: 25
by Aisha » Tue Oct 17, 2017 7:12 pm
I gave them a call and they were very helpful indeed. I am going to get in touch with them in the morning and go over all the details.
Halifax
Barclaycard
Natwest
Aqua
Capital one
Mbna
Very catalogue
Next catalogue


These are all my creditors, are there any in the list that would object to an iva
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Michael Peoples
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by Michael Peoples » Wed Oct 18, 2017 8:09 am
You have the usual spread of creditors and none of them are awkward. I am delighted that you are speaking with my colleagues this morning but feel free to contact me directly if you have any queries at all.
Aisha
Posts: 25
by Aisha » Wed Oct 18, 2017 12:03 pm
Rang a few different companies and gettin alot of different information from all of them. Wanted to ask everyone on here. What advice would you give in reagrds to paying the minimum payments to my creditors now till my iva gets accepted. Should i stop paying them all together or shall i pay a token amount?
I dont want to find out in a months time my iva didnt get accepted and then have all the creditors threatening me with court
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Foggy
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by Foggy » Wed Oct 18, 2017 12:40 pm
Aisha wrote:
Rang a few different companies and gettin alot of different information from all of them. Wanted to ask everyone on here. What advice would you give in reagrds to paying the minimum payments to my creditors now till my iva gets accepted. Should i stop paying them all together or shall i pay a token amount?
I dont want to find out in a months time my iva didnt get accepted and then have all the creditors threatening me with court



Most of us stopped paying altogether at some point , usually a month or two before the IVA started. Some made token payments. It makes little difference to the creditors.
Personally I would not stop too soon, at least until you know you are proceeding with a proposal. Save these missed payments .. they make a good safety net / emergency fund and are still there to play "catch up" if the IVA is rejected.
Aisha
Posts: 25
by Aisha » Wed Oct 18, 2017 12:46 pm
Yes that is what i was thinking, wait untill atleast i know what is happening with the proposal. I might just wait an see how i get on in the next couple of weeks an keep the payments upto date as much as i can.
Also wanted to ask has anyone been witu RE10 are they a good company?
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Foggy
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by Foggy » Wed Oct 18, 2017 1:23 pm
Never heard of them. Website looks slick (maybe too slick) and I don't like the slant they put on to paying as little as possible --- that is an advertising hook and not the basis of an IVA. But that is just my personal opinion.
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MerlinL14
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by MerlinL14 » Wed Oct 18, 2017 1:43 pm
You have made the initial contact with McCD and there is a very helpful and understanding rep on the forum in Michael. I wouldn't go for 'the one' with the shiny website or promises of low payments as these are purely a lure and could eventually lead to a very unsatisfactory IVA. An IVA is not just a means to fob off your creditors, you have to come to terms that you owe them a lot of money and you have a duty to pay as much as possible, without judgement or bias, having the right IVA company behind you as a guide and adviser is key to ending a long 5-6 years of living off basic disposable income, get it wrong and it will be hell. You can't go far wrong with McCD, don't take my word for it, just search the forum topics. As well as good outcomes you will see that Michael also has no problem distributing his sage advice to people who are not administered by McCD as well. Sadly, no my IVA wasn't with McCD.
tilly
Posts: 5
by tilly » Wed Oct 18, 2017 2:15 pm
Aisha wrote:
Yes that is what i was thinking, wait untill atleast i know what is happening with the proposal. I might just wait an see how i get on in the next couple of weeks an keep the payments upto date as much as i can.
Also wanted to ask has anyone been witu RE10 are they a good company?



My iva was with Mccambrige Duffy, don't know how I found them but I am sure glad I did. They were fantastic from start to finish always very helpful , use them you will be glad you did :)
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