IVA Advice

no_good_with_money

Hi

I have just entered an IVA but haven't signed the final agreement.

Today we got a request to sign our house deeds over to them and its really worrying me as I didn't know this would happen. We were told we would have to release some of our equity in year four but nothing about handing over the deeds.

I am now wondering if its best if I get loan out on the house instead but can I do this now, all the creditors have agreed to the IVA but I as said above I have not signed the above.

Is there a way I can contact the creditors and offer them a settlement figure.

I am really nervous now as the reason we did an IVA as we wanted to sort things out now I am regretting it.

I have been so stupid why did I do it.

Thanks everyone

misspixierocktastic

I had a problem and was in an IVA once
I thought there was a problem when my companys kept calling (i thought it was normal) but then when i called to ask where my payment of £600 had gone it hadnt gone towards any of my debts and they kept my money and when i opted out of the iva i got no money back, my citizens advice bureau helped me a lot more for free
I hope things work out for you

no_good_with_money

Thanks - Was it easy to op out how did you then manage your debt?

Thanks I am so nervous I really think I made a huge mistake I feel so sick.

In_Search_Of_Me

HAve you gone through one of the free debt support agencies like CCCS etc as recc on here? If not I really wouldnt sign nything without getting advice! I dont know much about IVA's but do know that people who have paid for one have often regretted the decision. I know its hard when you feel so panicked but its better to investgate now than regret it later...

no_good_with_money

No I just phoned he IVA company up. I have been burying my head in the sand as I am so ashamed of what I have done.

hypno06

I agree. First thing in the morning, get in touch with CCCS or one of the other charity services, and get their take on things.

Don't proceed if you are not tied in just yet if you are not happy - it will be far more difficult to reverse once you have signed those papers.

Good luck, and let us know how you get on.

no_good_with_money

Thanks I will ring the CCCS in the morning and will up date you all.

tallyhoh

You would be doing the right thing by checking out the free help first. Please dont sign for the IVA until you have explored other options. Dont let the company browbeat you into signing (I hear some do this).

Please, please dont sign your house over.

Good Luck

joey23

Dont worry its not too late, as you have not signed anything.

Speak with CCCS as they have an IVA company that they can refer you over to, that are really good, if its IVA that you want.

no_good_with_money

Have been on the CCCS website and filled out a questionaire am just waiting for them to call me back.

I still feel so sick, how can I be so stupid

hw123

if you have a ref number beginning with W you need to call 0800 197 1704 quote your ref number and a counsellor will advise you, dont worry they are real friendly and are there to help.

Good Luck,

Hope everything goes well!