Contacts Help Please

[debtcrunch]

Unable to get IVA, trying to offer Full settlement, Payplan said conuldny help.

Been writing to creditors explaining situation, myself dont seem to get a acknowledgemnet, just computerised generated letters.

Does anybody know of actual people i can write to to get letter addressed.

The creditors are Halifax, for loan and credit card Marks and Spencers and Egg.

All my letters seem to get ignored.

Now been issued with defaults, its so frustrating

[carlmcmullen]

Here are the addresses you need - but maybe the ones you have already used.

Can you tell me a little more about your circumstances, as you say you are trying to do a full settlement so have you got a lump sum you are looking to introduce ?

Did payplan give you an explanation as to why they cannot help ?

HBOS (Halifax)Debt Management Services,
Arrol House,
Viking Way,
Rosythe,
KY11 4WG

Egg, Point North,
Water Front,
West Dudley Road,
Brierley Hill,
West Midlands,
DY5 1LU

Marks and Spenceer,
Kings Meadow,
Chester Business Park,
CH99 9FB

[debtcrunch]

basiclly, lost job on sickness benefit.

cant afford payments, getting totally stressed, not a homeowner living with parents.

Relative has offered me a l;oan of some money to try and do full settlement.

Wrote to them addresses no one in particular but just getting replying saying i owe money not actually addressing my letter.

Realsie might be able to go down riuute of using an IP but this would swallow funds up available for lump sum payment

Its like the creditors dont want to listen.

if get taken to court all money i have at momnt is sickness benefit

[Adam Davies]

Hi
This is why it is better to use an IP and propose a full and final IVA,your creditors have to respond by a certain date otherwise one vote of yes on the day will carry the IVA through.It is so difficult to get an answer direct from the creditor as the decision maker will often not get your letter.
What sort of debts do you have[amounts] and what is the offer from the third party ?
Regards

[carlmcmullen]

Like Andy said by using an IP you would have Expert knowledge and a team of people pushing to get a response from your creditors.

Yes there are fee's involved but these will be reduced significatnly for a full and final settlement, and just think of what interest is being on charged on the accounts in the interim period - this will soon add up and all this will be stopped once the IVA is in place.

[debtcrunch]

Debts of around £42k. Can get a maximum of £17,000 from relative.

My worry is Ip will swallow up so much of money.

Could go bankrupt, but if health gets better i was for a short period of time self employed.

Who do the Ips write too when adressing there clients problems

[maxdebt]

This is a serious situation and you need some professional advice. Do yourself a big favour and contact an Insolvency Practitioner firm ( impartial reviews of the best firms can be found at www.iva.com )
I would personally recommend The 'IVA Advice Bureau' who gave me good advice and have an excellent IP named Melanie Giles

[carlmcmullen]

It is very hard to say without knowing the full extent, but if you were to make a lump sum of £17,000 after costs you would be looking at 30 - 35p in the £

Given the creditors you have listed, there is a reasonable chance they would accept that return.

You perhaps should contact an IP although i am curious as to why payplan said they could not help.

[Adam Davies]

Hi Carl
So am I curious,seems a reasonable offer considering that there is no equity and no income
Regards

[debtcrunch]

Thanks

just though if go through IP what fees would i expect to pay. £17k is the max i can get, would think after fees the creditors would have a lower amount to share out. Its not possible to share out the 17k and then pay IP fees on top.

I though you could only use IP if going with a IVA.

Payplan said they could not help, yet letters from halifax tell me to contact Payplan and CCCS, i feel like i may as well bury my head in the sand.

Halifax sent me a letter saying that they could


a county court summons being issued
A warrant of executio.

Charging order on house, yet dont own one.

Bankruptcy order.


Are they trying to frighten me.

The letter does not even have a persons name on it.

There other letter even said think you do voluntairly not want to pay.

I have sent them payments of £1 per month asking for payment book this is all i can afford form sickness benefit £62

[debtcrunch]

Payplan said only do full term ivas. I was self employed before illness.

[carlmcmullen]

Debtcrunch,

If you could afford to pay the IP's ontop of the £17,000 then that would suggest you have some surplus income, if you had surplus income then you would not be proposing a full and final settlment.

The fact that Halifax have suggested you contact payplan shows they are willing to accept a reduced offer through an IP.

Yes - the letters you are receving are system generated and a tatic they use to pressure people into payment.

Like you say they cannot get a charging order as you do not own a property, they are unlikely to make you bankrupt as that would cost them money and they would see no return.

They could enforce a CCJ perhaps, but then if you have no income then i cant see how a judge could order you to pay them an amount.

I feel you may be best speaking with an IP who can perhaps address the concerns you have about proposing an IVA.

[debtcrunch]

carl

i think you may not of understood it.

!7k is the max i can get to include IP fees or not.

This is from a relative and i could not possibly ask them to lend me more.

My concern is that 17k minus whatever IP fees are might not be sufficeint to propose a Full and Final settlement.

If the worst comes to worse, might go down route of bankruptcy.

I just feel given the chance to pay them simething rather than nothing as it is myself who got me into this mess.

[carlmcmullen]

I did misunderstand a little bit....

If you were to propose £17k then the IP fee's would be taken from this money normally.

Creditors would probally receive around £15k giving them a 33p in the £ return and the remainder to the IP (but dont quote me on this it is just an educated guess)

If you were to petition bankruptcy they would get back nothing from what you have told me - so i suspect 33p in a good offer and defiantely acceptable.

[debtcrunch]

So can i use skills of a IP even if i dont want to go for a IVA.

Do all Ips do a full and final settlement without a 5 yr term