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IVA advice - this is all new!
Hi all,
As I’m sure many of you may be in the same boat due to COVID etc I am at a point where I have had advice from numerous IP’s regarding an IVA. I now unfortunately feel like it is my only/best option after running through every other option.
As I’m sure many of you may be in the same boat due to COVID etc I am at a point where I have had advice from numerous IP’s regarding an IVA. I now unfortunately feel like it is my only/best option after running through every other option.
My question is which is the best company to go through an IVA with? I was close to going with CreditFix however I didn’t end up having a great experience with them. I have spoken with StepChange also regarding the IVA.
Thanks
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Comments
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Try this
https://debtcamel.co.uk/choose-iva-firm/
So what was the reason that bankruptcy was excluded as an option?0 -
Can I ask how much debt you have ?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
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My situation is fairly straightforward. Last year I got into difficulties which were resolved to some extent by starting an IVA.
I had my main account with Santander and a loan and credit card, but after the IVA I moved to Nationwide.
I am a tenant and some urgent work needed to be done, in January, on the eaves of the roof to prevent dampness in the rooms. I received a quote from the person who was to do the job, and I contacted the landlord and asked for £600.
Unfortunately, I didn't advise her of my new bank account and the money went into my old Santander account.
This seems quite trivial, but after five whole weeks I still haven't received this money.The insolvency company dealing with the IVA sent a letter, and I have sent emails to the appropriate department, This week is my third contact with the Complaints Department.
The bank cannot take this money to clear debts, and, it seems to me, it is being obstructive simply because they were one of my creditors. I would be interested to know if anyone else has had this experience.
Keith
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Start a new thread Keith.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
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I’m with creditfix and just coming up to 4 years in. Personally my experience has been fine, they are a big company and appear to just want the numbers and commission, so providing you can make the payments each month it shouldn’t be a faff. They use castlight and open banking each year for annual review which pulls through 12 months of bank statements to allow then to do an I&E assessment.If you believe you can, you will. If you believe you can't, you won't.
Secured/Unsecured loans x 1
Credit Cards x 8 (total limit £55,050)
Creation FS Retail Account x 1
Creation Credit Sale 0% x 1 = £112.50pm x 20 mths
0% Overdraft x 1 (£0 / £250)
Mortgage Outstanding - £137,707.00 (Payment 13/360)
Total Debt = £7,400 (0%APR) @ £100pm - Stoozing0
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