Consultation visit over!!

[baz36]

Well, we had the consultant round on Monday to fill in all paperwork, he was here hours, what a day, my head was spinning. Anyway he was really good, he could see we were very much in debt (£57000) and that we couldnt pay it. It worked everything out with us and we can offer £450 for the iva, he said this is totally acceptable for owing this amount and that there should be no problem with the creditors, he said it would be a couple of weeks and the debt company will call us to arrange a 2nd visit basically just to sign documentation before it goes to the creditors meeting.

He advised us to go out and open a basic cash bank account as some of our debts were related to our banks. We ended up with Lloyds who set us one up in 5mins.

We asked him what to do about the credit card bills and loans etc that are going to be due anytime, and he basically said do not pay them and when they start chasing say that we have just applied for an IVA and that our IP will be in touch in the near future.(its this bit that stresses me out as we have never really had people chasing us for money!!!!)

So things are moving just now totally stressing and feel sick because even though they say there isno reason why we shouldnt be accepted for the £450 you dont actually know until they do accept. Just wish I could stop thinking about it for at least 5minutes.

Anyway will keep informed.

[phill]

Welcome Baz,
I'm in exactley the same position as you guys, the figures are about the same too. I've also never had any one chase me for money and am not particulary looking forward to it, but as you say above all you have to do is tell them you've applied for an IVA and to speak to your IP.That surely cant be as hard as when you first had to approach a company and tell them how much debt you were in. Try to remain focused and think about the positive things, I dont think i ever imagined i'd be debt free in five years and now i have a chance. Their are loads of people in the same situation so just keep your chin up i'm sure everything will be fine

[freelili]

Hi guys

Just wanted to say you are on the right road now. You have both done all you can for the meantime. I think things have a habbit of turning out for the best. Whether your IVA is accepted or not, its out of your hands.

I know what its like being chased by creditors, they are paid to stress a payment out of you. Thats all the power they have and it will not have a bearing on the IVA decisions. They have a computer which dials the number and if you answer a bod who is reading from a screen will just say anything. Dont be intimidated, its not their money, they will try to wear you down, when you have had enough, dont answer.

Be prepared for emotional yo yo ing. Put time aside to de-stress, jump up and down or go for a run, Try to maintain your emotional health as much as you can. I made myself ill. You are not alone.

Good luck to both and take care of yourselves and your families

LILY

[iva_squirrel]

Hello,


I agree that there has been a huge increase in debt collection and recovery activity in the UK over the last few years, and the collection departments and organisations have become more advanced, intelligent and more efficient. However as freelili says you are not alone. Please try to be positive and keep us updated.

Kind regards,


Julia


For more information about IVAs, please visit my website:
www.supersonicsquirrel.net

[jamesfalla]

HI Baz

This is never going to be a nice time. You need to be prepared to receive a few snotty letters and nasty phone calls from creditors. However, remember, you are on the right path and you are not alone. It is going to seem difficult but remember, 1000s of peopole have gone through the IVA process and lived to tell the tail.

Just keep focusing on the end game which is that in a few weeks, your IVA will be in place and all the creditor hassel will be behind you.

James Falla

Expert in IVA, Bankruptcy and informal Debt Management solutions, with extensive experience of solving personal debt problems over the past 10 years. I am regularly featured on BBC News, Finance Programs and Radio.

Visit my blog at: http://jamesfalla.blogs.iva.co.uk

[Dominic]

Baz and Phil keep yourself together, you are doing the right thing and you are going to be bombarded with phone calls, there was a certain time between 6.30 and 9.30 when my phone was going off every 15 minutes, so I tokk the phone off the hook for that period and told my family and freinds to either email me, phone my mobile or phone after 9.30.

During the day i was a t work so I do not know how many times it went off during the day.

[coco]

I did the same as Dominic took the phone of the hook, you get used to it the quilt wears off after constantly repeating you situation, I had debt agencies threating court action and so on it can be stressfull but if everything goes well you have an amazing sense of relief when it is all approved and accepted.

52 payments to go

[scaredkez]

my phone goes now from 7.30 till 8.30 and i have the printer on and it goes to fax after 5 rings probably the best thing i ever bought. so i dont answer if poss.
kerri

[Dominic]

Kez so it redirects to the FAx and they get static or the fax noise down their earhole?

[scaredkez]

they get the fax tone down their earhole
kerri

[freelili]

Thats me off to the fox shop, hope its not too technical to set up

LILY

[Dominic]

I love that Kerri, is there anyway to increase the fax tone volume?

[Skippy]

Your post made me smile Lily - I've got this image of a fox sitting there answering your phone!

Three down, fifty seven to go until freedom!

[freelili]

oops it might deliver a rabid bite.



LILY

[Skippy]

Now wouldn't that be a shame!

Three down, fifty seven to go until freedom!