In process of applying for a iva

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Foggy
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by Foggy » Sat Sep 09, 2017 11:02 am
You could chat to them and see if they will reduce the interest and / or accept reduced payments. Some lenders are helpful, others aren't !
ashbock123
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by ashbock123 » Sat Sep 09, 2017 8:39 pm
Have decided to leave my application it's the right choice for me
ashbock123
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by ashbock123 » Sat Sep 09, 2017 8:48 pm
I have just been worried about the situation and that. But have been reassured if try to sort it out may make my debts worse and want to get to a end now and move on with my life so gonna let go through then have a good 5 years
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kallis3
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by kallis3 » Sat Sep 09, 2017 9:26 pm
An IVA can only help and you will be debt free at the end. It won't make your debts worse - can only help in getting you debt free.
ashbock123
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by ashbock123 » Sat Sep 09, 2017 10:29 pm
Will help me sort this mess have got into just started borrowing more because couldn't afford to live. There proposal is 32.97 £ is that a good dividend for them do you think
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kallis3
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by kallis3 » Sun Sep 10, 2017 7:36 am
It sounds like a good dividend to me. Mine was 30p if I remember rightly and it was fine. Don't forget that once your IVA has been accepted, all interest will be frozen and creditors can't contact you, although sometimes it takes a while to filter down to the call centres.

Your credit record will be shot for 6 years. If you don't go ahead you'll probably find yourself in a vicious circle which will result in your record being bad anyway.
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Foggy
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by Foggy » Sun Sep 10, 2017 9:05 am
Mine was also in the very low 30's. We all go through the whole range of emotions at the start -- it is a big thing to be doing! You will find yourself doubting and second guessing, but, as Kallis says, if you are having problems now, they will not go away by themselves and you are dealing with them. Use the forum, we are always here.
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watzki
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by watzki » Sun Sep 10, 2017 2:35 pm
Mine was 21p and repayed 29p
Hope this helps and good luck in your journey to a debt free future
ashbock123
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by ashbock123 » Sun Sep 10, 2017 8:45 pm
Thank you everyone for your comments have opened 2 new bank accounts so can have wages go into one and the other one will be my iva payment, council rent and council tax then will forget about that account and move on with life
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Foggy
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by Foggy » Mon Sep 11, 2017 7:02 am
I did similar but the other way around ---- wages into main account where the DD's all came out from and housekeeping money was transferred into the second account and spent from there.
ANNED
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by ANNED » Wed Sep 13, 2017 3:31 pm
ashbock123 wrote:
Will help me sort this mess have got into just started borrowing more because couldn't afford to live. There proposal is 32.97 £ is that a good dividend for them do you think


Hey I'm also new to this and have a iva proposal in my meeting is the 21st with cf to but I haven't really heard much from them how did u find out ur proposal is 32.97 and what does that mean sorry if it's a silly question ??
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Foggy
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by Foggy » Wed Sep 13, 2017 3:47 pm
ANNED wrote:
ashbock123 wrote:
Will help me sort this mess have got into just started borrowing more because couldn't afford to live. There proposal is 32.97 £ is that a good dividend for them do you think


Hey I'm also new to this and have a iva proposal in my meeting is the 21st with cf to but I haven't really heard much from them how did u find out ur proposal is 32.97 and what does that mean sorry if it's a silly question ??



ANNED, you will find out the proposed dividend, if not told beforehand, from your proposal document --- what the dividend means is that, for every pound you owe, the creditors will get that many pence back.
ANNED
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by ANNED » Wed Sep 13, 2017 3:55 pm
Foggy wrote:
ANNED wrote:
ashbock123 wrote:
Will help me sort this mess have got into just started borrowing more because couldn't afford to live. There proposal is 32.97 £ is that a good dividend for them do you think


Hey I'm also new to this and have a iva proposal in my meeting is the 21st with cf to but I haven't really heard much from them how did u find out ur proposal is 32.97 and what does that mean sorry if it's a silly question ??


ANNED, you will find out the proposed dividend, if not told beforehand, from your proposal document --- what the dividend means is that, for every pound you owe, the creditors will get that many pence back.


Ok thanks just wasn't sure what it was and why I hadn't been told it.
ashbock123
Posts: 64
by ashbock123 » Wed Sep 13, 2017 9:36 pm
Foggy wrote:
I did similar but the other way around ---- wages into main account where the DD's all came out from and housekeeping money was transferred into the second account and spent from there.

Yes would do that but get paided weekly and changes some weeks so can have a set amount for them 3 and other direct debits will be in account with wages as they all spread out over different weeks
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