Cccs- iva?

plummer_in_van

Hi, i was wondering if anybody has taken out an IVA with the CCCS ?. We are in the process of going down the IVA route and hadnt noticed much feed back from anyone who has gone through them.We are at the stage of sending all the info of our accounts etc.
So far i feel they are on the ball and are really helpfull. Its just nice to get an idea of how people are getting on with theirs through the CCCS, as its a big thing to do and with a family and house i feel i need to make the right decision!!
Thanks for reading this and hopefully will be able to keep you up to date with how things go,

Nargleblast

I am in an IVA with CCCSVA and am working through my second year at present. So far things have gone well. It took a while to set up but after about five months of payments the creditors started receiving their monies (I understand with some IVA firms it can be a year or more before the creditors see any money). I had to renegoitiate a lower payment after a few months to pay for school uniform (son starting secondary school). That was sorted out with no problems. The first annual review was later than expected because CCCSVA were very busy but it all went through ok.

With the IVA you know that as long as you keep your side of the agreement and stick to your budget, advising them of any problems or changes in circumstances, then the whole thing will be done and dusted in 5 years, 6 at the outside. Your home will be safe - ok, if there is any equity to release after 4 years or so then you have to take steps to do that, but that is not unreasonable in my opinion. Once your IVA is finished then some of the money you would have kept aside for the monthly payments could be used instead to pay extra into your mortgage, thereby getting the balance down quicker. That is what I intend to do.
Hope this helps.

To_be_Free

I am also have my IVA with CCCSVA and am in my second year, after my first annual review my payments were reduced by £48 a month due to petrol prices as I have to drive over 250 miles to work and back each week. I have always found them helpful and very professional.

stressedtothelimit

DH and my IVA is with them. It seemed to take far to long to set up at the beginning (contacted them in november and finally got IVA approved in April) but they were helpfull all the way through and now everything is running smoothly.

would recommend them, they gave me a solution when I needed one!

adfax

As with the other posters, I too have an IVA with CCCSVA.

It did seem to take a long time to get it all sorted, but the vast majority of my creditors accepted the proposal with no significant modifications (the proposed payment remained the same which was the main thing to me!).

They have always been very helpful and prompt in their replies to queries, and so far everything is going fine.

Good luuck.

plummer_in_van

Its really nice to know how others are getting on with their IVA. Im glad that everything is working out well for you all. We are just in the process in sending all our documents and photo copys etc to produce our proposal.
It feels really strange at the moment, i guess you dont know how all the different creditors are going to react. Made a phone call to Virgin c/card and explained to the lady what was going on and she was really really helpfull. Just asked us to make a token payment to show some good will.
Once again many thanks for all your replys.

Nargleblast

From now on, plummer, don't make any more payments to your creditors without first checking with CCCSVA - they will tell you whether or not to make any further payments, depending on where in the process you are at that point.

If any creditor calls you, you tell them that you are in the process of drawing up an IVA proposal through CCCSVA, and that the creditors will be contacted by CCCSVA some time soon with the details. Any correspondence received from your creditors either now or once the IVA is up and running, you forward on to CCCSVA to deal with. Any creditors who phone you once the IVA proposal has been drawn up should be referred to CCCSVA.

plummer_in_van

Hey thanks for that info, just getting all the copys of all our accounts, car documents,etc so the cccs can put together our proposal.
We have worked out our budget with them and have worked out how much we have left to pay into the IVA each month.

We do have a house with about 60 thou in equity but we owe just over that, so i think we will probley pay about 31thou less costs into the IVA over the 5 years and hopefully maybe be able to release some money from the house if not then its the extra year in the IVA.

Its the unknown which makes things abit uneasy like will First Plus be abit sh**y and cause loads of hassle or just let us keep paying the payments which we have never missed in all the 3 years out of 10 that we have had the loan, or will we get anybody knocking on the door,even though we are keeping in touch with every creditor?

I know we are very lucky in that i do have a very good secure job which ive only had for a few years but that hopefully will help me and my wife work our way out of this mess.

Have to say we have learned some valuable lessons in how to run our finances( get a budget!!) in the future and this site has been amazing in helping us sort things out, which im hoping will work out as long as we are able to get the IVA.
Many thanks. Plummer.