hi all i note from your posts you are all stressing alot, no body can guarentee if an IVA will be accepted it all depends on the day how the creditors vote, you need to offer your realistic disposable income as 5 years is a long haul, what usually happens when you contact a IP is they tell you to stop paying your creditors straight away and open up a basic bank account with someone who is not one of your creditors or a subsiduary of one of your creditors, i walked into lloyds tsb one saturday morning and opened up a basic bank account with a visa debit card no frills just a cheque book and debit card by monday morning i had switched all my direct debits, in regards to payroll depending if it is by bacs that you are paid, you will need to find out when they ring the figures through to the bank on this day is when they change your bank account details also so if you get paid at the end of the month you may still have time to do this, if not wait until your wages have gone in and then withdraw them and put them into your new account, if you have any childrens accounts that are in your name and they are not the sole signatury you will have to empty these also if your bank is one of your creditors as they will take their money if your name is on that account.
however way you look at it if you cannot meet the payments anyway there is nothing you can do about that and once you have started on the iva route all phonecalls and letters will start immediatly from your creditors, if in the mean time you can make token payments to all creditors then that is up to you, write them a letter with the accompanying cheque explaining you are having difficulties and are seeking professional help!
in regards to the money being sent to your mum abroad anna i donot know where you stand on this one, it will be queried i am sure.
melanie often pops on the boards at the weekend and i am sure she will answer your technical problems as soon as she can, the way to look at is you have taken your heads out of the sand and realise you have to now face up to your debts.
do not use further credit as this is only deepening your debt, remember an iva is a long haul and the creditors are looking for the best dividend they can get but you must and i stress must be realistic with your income and expenditure as if you squeeze yourselves to the limit the iva will fail as a few on here already have, make sure you feel positive with who ever you use and steer clear of the companies asking for up front fees who do not give a guarentee what will happen to this money should the iva not be accepted.
i wish you all luck and keep posting so we know how you are getting on, i am not a technical expert but i am deeply in debt my self and have been where you all are now, my iva was rejected and i am soon to be petitioning for BR which will result in the loss of my home and possibly car, so please i do empathise with you all and know where you are all coming from, i no it is easy for me to say but try not to stress too much
kerri
Please view my blog at:
http://scaredkez.blogs.iva.co.uk/
