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Thinking of an IVA - Loan mistake on form


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Last year i took a personal loan for 20k in jan with natwest
Unsecured loan
On the application it said residential status mistakenly i clicked homeownwer actually living with parents now due to covid going through iva

will this be bought up ?

 

So far paid back about 5k 

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No - I honestly wouldnt worry about it if youve been given a loan. Just dont say anything to them.

When doing it they do a credit check anyway so if they havent picked it up then its not a problem.

 

Are you failing with payments at the moment. There is an alternative as to what *MIGHT* happen but its very rare that it does.. 

 

 

We could do with some help from you.

 

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Yes i am failing with payments going through iva so i have nothing to worry about?

On iva it says about assets i have written 0 

 

Can this be picked up in the iva ? 

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why are you going for an IVA??

 

not a good idea on consumer debt.

 

as most of the money paid goes to the provider in fees and they always then pressure you to extend it when the 5yrs is getting close as the sums are nowhere near being paid off.

 

IVA in most instances is a CON and so are these wonderful providers!!

 

list your debts please

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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40 k debts in total barclaycard and natwest iva via stepchange 

So the resedential is  not an issue?

 

 

 

 

 

 

 

 

After 5 years how many years can they extend by?

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was your credit file shot with numerous defaults and other bad markers or PDL's when you took any of this credit out? they could be subject to irresponsible lending complaints..

 

when did you take them out?

 

are they still owned by the original creditors or have they been sold to dca's?

 

how long have you been with stepchange paying these off?

 

there is really no need to enter into a secured arrangements like IVA's for consumer debt ...seriously.

 

who said the debts are even enforceable ?

certainly not stepchange, they never check...

 

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Have not started yet with stepchange

Last year jan 2019 took loan out.

No defaults on history 

My intial question was my error on loan application what other options do i have ex iva ? 

 

Still with creditors

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you write to the creditors getting them to accept a small pro-rate payment in exchange for freezing interest and all penalty charges.

 

so who said you had to go for an IVA?

who said you must panic about not being able to pay these back?

it's consumer debt, there is really very little anyone can do, bar mark your credit file, if you can't now meet your payments.

 

what other debts have you?

this NatWest loan

and you say Barclaycard?

it that all that makes up the £40k debt?

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Those 2 are the main ones 

Mbna 

Hsbc

Virgin

Shawbrook 

Will they accept my proposal ?

Stepchange said pay them 252 per month

 

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right lets start again..

 

forget the IVA..drop it , cancel it .you don't need one and whomever suggested that wants shooting!!  .forget it.

so forget the problem with any forms and mis information.

 

list your debts please

for each please give:

 

type of credit

the original creditor

when taken out

how much borrowed

how much now owed.

defaulted date from credit file

 

dx

 

 

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • dx100uk changed the title to Thinking of an IVA - Loan mistake on form

Shawbrook Bank  taken 1000 /£900, 

Commsave 2000/£1,950, 

Paypal £765, 

HSBC 3000/ £1,898, 

Virgin Money 4000/£3,408, 

Tesco £368,

Barclaycard 7000/ £6,545, 

Natwest £1,450 

Natwest £1,650, 

MBNA £1,949, 

Natwest 20k/ £16,883,

Natwest 10k £1,291,

Barclaycard £2,466

 

no defaults to date taken out holiday brakes  
 

 

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 Shawbrook Bank £900 £5

Commsave £1,950 £12

Paypal £765 £5

HSBC £1,898£11

Virgin Money £3,408 £21

Tesco £368 £2

Barclaycard £6,545£40

Natwest £1,450 £9

Natwest £1,650 £10

MBNA £1,949 £12

Natwest £16,883 £102

Natwest £1,291 £8

Barclaycard £2,466 £15 

 this is stepchange pro rota plan per creditior   

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send each one the below for each debt

forget paypal totally mind! not ever enforceable 

 

what is commsave please never heard of 'em??

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

send each one the below for each debt

 

forget paypal totally mind! not ever enforceable 

 

what is commsave please never heard of 'em??

so forget that then you've been with stepchange for a good while

I did ask when did you start with stepchange please?

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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they took my wifes earning in to account and said 252 per month earning,360 per week, she earns 280 per month

comm save are a credit union 

 

step change last week I have not signed their proposal 

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what!!

the debts are nothing to do with your wife!!

 

so go follow my last post

dump stepchange !!

 

do it yourself

 

on your list

can you please add when you took each type of credit out please.**IMPORTANT**

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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mostly in jan-mar 2019 

one was taken out in 2015 for 10 k 

Shawbrook was this year march 2020 for 1k 

 

so if I did stay with stepchange will the iva get me into any fraud issues 

Edited by Pk786
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fraud..whats that got to do with anything??

 

but no.

 

it just doesn't sit right with me that you managed to enter into £40k worth of debt in 6mts.

 

do it yourself

don't use step change

creditors can't get blood out of a stone

your wifes income has stuff and all to do with your debts.

 

 I've moved you to the debt selfhelp forum..

have a read of a few peoples threads to see how others managed to do it without entering into an IVA.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

as has been already pointed out by london1971, regardless to your 'mistake' the creditor will carryout affordability checks, if they missed that fact, tough luck on them.

 

don't be embarrassed by debt, don't be morally pressured by your peer group or anyone into thinking you are inferior because of debt and must further indebt or compromise your position to pay debt off.

 

the whole industry in duty bound to HELP YOU.

you don't need an IVA , you simple need to take control of YOUR money and who gets it without signing up to schemes that put a millstone around you neck for atleast 5yrs and more, whereby most of what you pay for these schemes goto the provider in hidden fees.

 

follow the pro-rata route, do it yourself, you don't need stepchance, 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thnxs alot

 

Where is this debt self help?

 

Where is this debt self help? And what i told them about my residential status is that not misleading

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as I've said several times now forget about the document mistakes

that is not any issue.

 

have a read of a few threads here

https://www.consumeractiongroup.co.uk/forum/124-debt-management-and-debt-self-help/

it tells stories of other peoples debt woes

just like yours

and how they dealt with them.

 

dx

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

Hi

 

Using stepchange to ‘help ’you through this is like using petrol to try and put a fire out.

 

Getting into an IVA for all of your debts now is like using a JCB to crack a nut.
 

They are not giving you proper advice because they are desperate for commission off your misfortune.
 

Am I correct in reading that none of these have defaulted yet?

 

How much of your inability to make payments is down to Covid 19 related loss of income?

 

Are you a homeowner?

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

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