Is there anything i can do?

silverback_999

In February next year and all being well i'll finish my IVA, its not been easy despite the promises made by my arrangement company, the last minute 'oh and 50% of all overtime' bombshell was a nice touch on their part, that has cost me dearly over the five years.

The thing is i'm looking for advice and to see if its at all possible to do something now with a view to making my credit rating look less hostile, i started with T-Mobile at least 7/8 years ago and never missed a payment so that should go well for me hopefully? but are there any little tricks i can do to start the ball rolling up to my February day of freedom?

Any help would be appreciated, at 35 years old i'm desparate to get on the property ladder ASAP.

doelani

HI Silver

Well done on getting this far with your IVA, I know it's hard but worthe it believe me if you get to the end............have a look at my signature:rolleyes:

As for the 50% of overtime that seems standard your IP should have warned you before IVA but all done now. We paid £9.5k in extra 50% over three yeras but then again we had £9.5k to keep to ourselves which is how we looked at it.

Your IVA stays on your credit file for 6 years from date it was agreed so not until that finishes it will still effect you. You could get your credit files and make sure none of your defaults are dated AFTER the date your IVA was agreed just to make sure they drop off I years after your IVA all paid.


Not really sure you can do a lot at the minute, just keep it up, will be all worth it in the end.

thewad

What were the monthly payments on 110k?

Just trying to figure out the percentages per 1k of debt in payback.
Looks to me like it's roughly 1%.

John

doelani

thewad wrote: »

What were the monthly payments on 110k?

Just trying to figure out the percentages per 1k of debt in payback.
Looks to me like it's roughly 1%.

John

we paid £575 for 3 years + £9k extra ( from overtime ) then £40k for a full and final , the payments also earned almost £1k in interest during the 3 years.

We paid back £70.5k of the £110k owed so after fees creditors got 52p in £. Not sure where you got 1%, the £9.5k was xtra payments on top of our normal montky payments.

Even though we finished IVA early creditors still some return as if we had waited the full 5 years as they were due a divident of 52p as agreed at creditors meeting.

beefree

i would suggest showing you can maintain payments on a monthly basis...so maybe get a few small credit cards with a small credit limit...please dont fall into the same trap again...i mean spend £100 on them and pay it back in full before the interest is added...this will look good on your credit file