Credit card companies

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moira717
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by moira717 » Thu Mar 23, 2017 8:21 pm
Are there any credit card companies who are reluctant to accept via's?
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Foggy
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by Foggy » Thu Mar 23, 2017 8:31 pm
None that spring to mind .. Barclaycard can be bothersome in the run up, or at least their agents can be if they get involved, but I don't think they routinely vote against. We had a couple of Barclaycard accounts and both accepted, as did the others ( at least those who voted).
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kallis3
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by kallis3 » Thu Mar 23, 2017 8:34 pm
Barclaycard were one of my creditors and I had no problems.
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Kazza
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by Kazza » Thu Mar 23, 2017 8:47 pm
Hi Moira, we had Barclaycard, Natwest visa, Banco Santander, Halifax visa, Cahoot, Shop direct (very catalogue), Next..... then the loans....Tesco, Natwest & Barclays! just a few debts....!!! Oh and Natwest overdraft!! And we were excepted! :D
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moira717
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by moira717 » Thu Mar 23, 2017 8:50 pm
Thank you kazza , think you mentioned most of my creditors there, except I have nationwide too. Did all of your creditors vote?
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moira717
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by moira717 » Thu Mar 23, 2017 8:55 pm
Thank you foggy and kallis
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Kazza
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by Kazza » Thu Mar 23, 2017 8:56 pm
I believe they did and it all went through smoothly. Nationwide are who we bank with now and probably about the only company we didn't have debt with!! Don't think I listed them all in my previous post! shocking to see we had so many but hey, it spiral's out of control, and like, you using credit to pay credit debt (mainly husband was but It was joint names in most!) just didn't quite know how bad things were! Anyway, I know waiting is awful, but as others have said, your IP wouldn't put your case forward if they didn't think it would be accepted. Gotta a good feeling about this for you. Good luck
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moira717
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by moira717 » Thu Mar 23, 2017 9:06 pm
I hope so! Will let you know on 4th. Thankyou :D
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Kazza
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by Kazza » Thu Mar 23, 2017 9:07 pm
Oh please do! and you will be fine... :D x
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Allywally
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by Allywally » Thu Mar 23, 2017 9:20 pm
Good luck, we have all been there and things are better now, am into 5th year with extra year added for equity but have no regrets - not sure I would be here had I not bitten the bullet :D
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Michael Peoples
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by Michael Peoples » Fri Mar 24, 2017 10:19 am
It can depend on the level of equity. Some credit card companies will accept IVAs if there is substantial equity and others will reject. Other than that they are mostly the same.
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moira717
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by moira717 » Fri Mar 24, 2017 11:34 am
Thank you Michael. My proposal is for 6 yr iva as house was my husband's before we met and I have never contributed to mortgage. Am worried they may say I have stake in the house (mortgage in husband's name only). He would not agree to release equity ( don't blame him as all debts solely mine)
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Foggy
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by Foggy » Fri Mar 24, 2017 12:24 pm
In reality, as things stand at the moment, if you did actually own a share in the house, they would be looking at getting a 12 month extension anyway --- which you have given them up front, so they shouldn't object on those grounds as you are being more than fair.
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Michael Peoples
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by Michael Peoples » Fri Mar 24, 2017 12:36 pm
If you did not own the house nor paid the mortgage then you should not have an interest in the property. I would certainly not have volunteered a twelve month extension had I drafted your IVA and left that as a bargaining chip should the need arise.
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moira717
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by moira717 » Fri Mar 24, 2017 12:55 pm
That's what I originally was told would happen, that they would propose a 5yr. However when proposal came it stated 6 yr for interest I may or may not have in house. Maybe I should have argued it but to be honest just wanted to get things moving and thought another year is a small price to pay
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