We are truly suffering.Is there any help or advice?

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emmanuel.6

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Post by emmanuel.6 » Sat Jul 24, 2010 6:58 am
WE are currently one year into a five-year IVA programme which we find quite hard. In addition my wife has had to keep up paying a huge monthly sum separately for an ever-increasing repayment rate on a Welcome Finance loan secured on our property. We are truly suffering.Is there any help or advice for us?. We'd be very grateful. Many thanks in advance
 
 

kallis3

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Post by kallis3 » Sat Jul 24, 2010 7:07 am
Hi and welcome to the forum.

Sorry to hear that you are struggling. You need to speak to your IP about this to see if your payments can be reduced if needs be . Have you had your yearly review yet?

Which company are you with?
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
 
 

baldy

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Post by baldy » Sat Jul 24, 2010 10:02 am
Hi we are new to this site but have been doing a lot of reading gathering lots of info.We are in the process of getting our IVA through the cccsa.If you are having any problems with the budget or really living off nothing you have to get on the phone to your IP and tell them.From all the posts on here that is a Very important thing to do keeping in touch with the IP and letting them know exactly what is happening ie any finacial changes etc.We have a secured loan with First Plus (3years into) and our payments have stayed the same.Why do yours keep going up?. Good luck and hope it all works out.[:)]
 
 

MelanieGiles

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Post by MelanieGiles » Sat Jul 24, 2010 3:54 pm
Why are you finding the payments a struggle? Did you put forward your income and expenditure budget to your IP when the proposals were being prepared - and were all of those figures accepted? Or have you suffered from a change of circumstances since the creditors meeting which has affected your disposable income?
Regards, Melanie Giles, Insolvency Practitioner
 
 

plasticdaft

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Post by plasticdaft » Sat Jul 24, 2010 7:25 pm
I think the problem Mel is the increasing costs of the secured loan. Welcome seem to have a history of upping the rates as and when they please.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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