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What is an IVA?
desperate84
Posts: 28 Forumite
Soryr for the thick question!!
Do I have one? I have made arrangements with my 2 creditors til I can start work again
Do I have one? I have made arrangements with my 2 creditors til I can start work again
November
1210 Egg 17.9%APR
1944 HSBC 15%APR
5850 MBNA (on arrangement) 0%
140 MBNA 0%
1360 Halifax 0%
I will get there:beer:
1210 Egg 17.9%APR
1944 HSBC 15%APR
5850 MBNA (on arrangement) 0%
140 MBNA 0%
1360 Halifax 0%
I will get there:beer:
0
Comments
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Anyone?
I get the feeling I am ignored on here
November
1210 Egg 17.9%APR
1944 HSBC 15%APR
5850 MBNA (on arrangement) 0%
140 MBNA 0%
1360 Halifax 0%
I will get there:beer:0 -
sorry cant help but will see if anybody else can - hold on a mo:cool: Official DFW Nerd Club Member #37 Debt free Feb 07 :cool:0
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"IVA" stands for "Individual Voluntary Agreement", which is an agreement between yourself and the creditors involved, as to how much you can pay towards your debts; the amounts paid back per month are normally lower than they would be otherwise, but the IVA affects your future credit rating. I'm no expert on the matter, so I may have that a bit wrong (I'm sure I'll be corrected if so).
Also, it can take time for responses to come in, even on a busy forum such as this; patience is a virtue
Debts (26.3% remaining) - CC/BARC: [strike]2058[/strike] 100.00 @0%; CC/MBNA: [strike]1877.75[/strike] 0.00; Loan/SLC: [strike]10000[/strike] 7901.84 @1.5%; Loan/Per: [strike]1500[/strike] 0.00; Loan/HX: [strike]15000[/strike] 0.00
Mortgages (94.7% remaining) - NW: [strike]92516.94[/strike] 87565.40 @3.19%; HBOS: [strike]65599.57[/strike] 59106.45 @4%, [strike]69251.57[/strike] 68589.97 @3.49%
Total amount of fail: Dangerous (223263.66)0 -
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I wouldn't have thought you would have an IVA unless you have been to a specialist financial type person. I think you would know if you had an IVA - you sound more likely to be on a debt management plan (DMP).Olympic Countdown Challenge #145 ~ DFW Nerd #389 ~ Debt Free Date: [STRIKE]December 2015[/STRIKE] September 2015
:j BabySpendalot arrived 26/6/11 :j0 -
desperate84 wrote: »Soryr for the thick question!!
Do I have one? I have made arrangements with my 2 creditors til I can start work again
Doesn't sound like it - sounds like you have an informal agreement with your creditors. You'd know if you were in an IVA.Proud to be dealing with my debts - DFW Nerd #4910 -
Thanks, sorry I am new to all this debt terminology:rotfl:
I don't have one then, just a DMP, but my DMP isn't through anyone, I set it up myselfNovember
1210 Egg 17.9%APR
1944 HSBC 15%APR
5850 MBNA (on arrangement) 0%
140 MBNA 0%
1360 Halifax 0%
I will get there:beer:0
This discussion has been closed.
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