Possible to get a mortgage?

ACG

You have said after bills/traveling/IVA you have £360 a month...

Im not trying to pick holes, but the amount of people I see who say they cant afford things are struggling etc etc and then you go through their bank statements and they are spending £80 on sky or £15 at moonpig for cards and just general crap is shocking.

The sooner you get the IVA cleared, the sooner you can stop paying it and the sooner your credit report starts getting better. Forget that you cant get a deposit together, who knows where we will be in 2-3 years time. You might have a new higher paid job, 100% mortgages may be back, you might win £20k on the lottery or find a nice rich mrs - nobody knows. So just put that to the back of your mind and concentrate on what you can do which if you put your mind to it you could probably clear that IVA well before 2017.

If you can save up a lump sum of around £4k I would put money on them accepting it - which saves you £3k, stops the red markers hitting your report and thats it, its the first step done. Then it is just a case of working on the deposit and seeing what you can do.

greenbrucelee

Thanks. I fully understand what you are saying. When my IVA was put in place it was stated that I was going to pay back a 37% dividend, now I also fully accept that I should pay back what I do owe because I was stupid but never expected to have my wages cut by 22% and going down by that amount is very hard to adjust to.

I am currently claiming PPI for things like credit cards and loans I did have and I alway pay overtime into my IVA but at present it actually looks like I am going to be paying back 60% into my IVA. I just wish there was a way I could say look I have pay back nearly double what was stated can't that be done as a settlement.

I chose to go down the IVA over being bankrupt as didn't want to take the easier option but I feel now this may have been a mistake.

ACG

Dont overpay on the IVA, when you have a lump sum go back to them and ask if they would accept it.