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IVA rejected by Link Finance
Haydn1973
Posts: 1 Newbie
Help!
I'm in dept of £15k, I'm on a DMP (Gregory Pennington) I tried an IVA but bloody Link Finance rejected it. So I am stuck, and I don't know where to turn :0(
I'm in dept of £15k, I'm on a DMP (Gregory Pennington) I tried an IVA but bloody Link Finance rejected it. So I am stuck, and I don't know where to turn :0(
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Comments
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Help!
I'm in dept of £15k, I'm on a DMP (Gregory Pennington) I tried an IVA but bloody Link Finance rejected it. So I am stuck, and I don't know where to turn :0(
Are Link finance one of your creditors ?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
How long have you been on the dmp?
How much do you owe now? Do you have any assets like a car or house?
Suggestions to get your started:
1) move your dmp to a free company so more of your money goes to your creditors
2) consider making full and final settlement offers
3) consider whether you would be a suitable candidate for a DRO (debt reduction order).
Why not have a chat with StepChange or National Debtline or have a look at their websites?
Best of Luck
dfMaking my money go further with MSE :j
How much can I save in 2012 challenge
75/1200 :eek:0 -
Are Link more than 25% then? What percentage rejected it?Still rolling rolling rolling......
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SIGNATURE - Not part of post0 -
Hello there,
Are you in rented or mortgaged accommodation?
it appears that Link are likely to be one of your largest creditors, as such their vote can be crucial in an IVA application succeeding. There could be alternative options, however.
How much were you going to pay in to the IVA on a monthly basis?
Best wishes,
David @ NDL.We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0
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