Is there anything on here too be concerned abit with my IVA Application ?

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ryan787
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by ryan787 » Sat Jun 24, 2017 4:12 pm
Hi people sorry it's me again worrying again I just wish it was Wednesday the 5th of July now when I'll finally know if I've been accepted or not .

Just wondered what the normal Reasons are for having a IVA turned down . Even though credit fix and finance guardians seem like it's 9/10 chance there going too say yes .

These might not be a concern but these are things which are worrying me .

1. I'm in debt with Lioyds for around 16,000 pound they cleared my last loan in January time and cleared my credit card debt like a idiot my ex got me in the same position again so now the credit car is maxed Out I can only afford the minimum payment which is not taking it down by anything .

2. I got a tesco credit the end of last month I've had too use it for things like the dentist and general living costs it's now on 1600 I've not used it in over a week though . I've stopped using it since i signed my agreement to apply for the IVA .

My expenditure sheet comes too £160 a month spare will they see that has Beeing fine ?.

Its in my application that I'm willing to pay £160 pound a month back is that not enough too say all together my debt comes too around 23,000.

Tesco £1650

Lioyds - credit card £3900 - loan 12,300

Hitachi loan 5,300

Thankyou for listening too me .

Kind regards
Ryan Jacobs
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moira717
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by moira717 » Sat Jun 24, 2017 5:07 pm
I am no expert! Mine was accepted at much less. Using credit up to application shows you are insolvent, i.e. living off credit to live. Was in your position only few months ago, stressful times.am sure you will be fine :|
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Foggy
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by Foggy » Sat Jun 24, 2017 5:44 pm
By IVA terms it is a reasonable return ,, but it is impossible to second guess the way the creditors would vote --- as for reasons, some do not accept, whatever the offer ... no real reason.
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ryan787
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by ryan787 » Sat Jun 24, 2017 5:47 pm
Why would they put me forward though ? They must feel confident or they wouldn't do it would they ?
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harrysmummy78
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by harrysmummy78 » Sat Jun 24, 2017 5:53 pm
I have just replied to you but it disappeared so apologies if this is a double reply!!
My IVA was accepted at 0.14p in the £ my original monthly payment was £130 on £32,000 debt try not to worry too much I know it is really hard not to and you will naturally be feeling anxious right now, I have my F&F meeting with Crditfix the day after yours so I wish you lots of luck, if you are feeling really worried have a chat with CF and see if they can reassure you, don't worry too much about the use of credit prior to you applying for your IVA I am sure all of us were also living off credit for daily living I know I was I think it would be more if you were making luxurious purchases ect you would need to worry as long as you now stop using them. Best of Luck for your meeting.
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Foggy
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by Foggy » Sat Jun 24, 2017 5:58 pm
They are confident .. try not to overthink.
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ryan787
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by ryan787 » Sat Jun 24, 2017 6:01 pm
Hi I'm just so nervous even though I've been told my financial guardian company and credit fix that it looks like 9/10 that'll it be accepted .

What do you class has luxouirious items has in like TVs and computers ?

I hope your IVA goes well has mine Hopefully aswell
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ryan787
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by ryan787 » Sat Jun 24, 2017 6:07 pm
Foggy wrote:
They are confident .. try not to overthink.

What do you mean by not overthink ? . I'm just so scared at the minute
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ryan787
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by ryan787 » Sat Jun 24, 2017 6:12 pm
moira717 wrote:
I am no expert! Mine was accepted at much less. Using credit up to application shows you are insolvent, i.e. living off credit to live. Was in your position only few months ago, stressful times.am sure you will be fine :|

I do hope so I'm at the point where I can't continue I'm so stressed with this
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harrysmummy78
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by harrysmummy78 » Sat Jun 24, 2017 6:19 pm
ryan787 wrote:
Hi I'm just so nervous even though I've been told my financial guardian company and credit fix that it looks like 9/10 that'll it be accepted .

What do you class has luxouirious items has in like TVs and computers ?

I hope your IVA goes well has mine Hopefully aswell


I am not an expert Ryan but if you were splurging out on new cars expensive holidays ect knowing you are insolvent then I don't think creditors would look kindly on that but using CC's for shopping & necessities I wouldn't worry too much I used all mine until the point I realised I couldn't go on and made the call to get help with my debt and it wasn't questioned in anyway.
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ryan787
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by ryan787 » Sat Jun 24, 2017 6:33 pm
harrysmummy78 wrote:
ryan787 wrote:
Hi I'm just so nervous even though I've been told my financial guardian company and credit fix that it looks like 9/10 that'll it be accepted .

What do you class has luxouirious items has in like TVs and computers ?

I hope your IVA goes well has mine Hopefully aswell


I am not an expert Ryan but if you were splurging out on new cars expensive holidays ect knowing you are insolvent then I don't think creditors would look kindly on that but using CC's for shopping & necessities I wouldn't worry too much I used all mine until the point I realised I couldn't go on and made the call to get help with my debt and it wasn't questioned in anyway.


Before they wrote my debt off the first time has in the credit card that had a holiday on it but that was last year . In like may so that should be allright I imagine

What company have you used if you don't mind me asking ?
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ridingthestorm
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by ridingthestorm » Sat Jun 24, 2017 7:31 pm
Hi Ryan

I was in the same boat but with alot more debt !! I went with PJG and was then sold over to Creditfix and my time with them was in my personal opinion pretty good, tho there will be people on here who would disagree with me, but I can only comment on my own experiences with them.

I wouldn't worry about being excepted !!! I'm pretty sure you wouldn't get to this stage if CF didn't have it already tied up, don't forget Creditfix will unfortunately make money from you over the term of your IVA through different administration fees and so as that's business they will make sure it's sorted.

Good luck with your IVA journey
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Foggy
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by Foggy » Sat Jun 24, 2017 7:59 pm
ryan787 wrote:
Foggy wrote:
They are confident .. try not to overthink.

What do you mean by not overthink ? . I'm just so scared at the minute


Basically it is in the hands of your IP and the outcome will be whatever it is --- try not to stress out. It is rare for IVA proposals to be refused these days.
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kallis3
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by kallis3 » Sun Jun 25, 2017 7:50 am
Basically, if you have an expensive car or expensive jewellery or a Picasso at home you might be expected to sell them. You will be allowed to keep a computer and television but not go out and get a new one.

If you've not already done so, swap your bank account to a non-creditor, Co-op are good for a cashminder but you have to do it in a branch or via phone. Don't touch HSBC or First Direct as they do not like IVA's.

If you have internet banking I would suggest you go in and remove contact numbers so that creditors can't contact you.
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