COURT PAPERS

[jannette92]

Just starting an IVA proposal. We have an IP who has drawn up all the paperwork and it is here ready to sign. Just going to go through it when my husband comes home from work,

There are some papers that have to go to the court, what is this for ?
Also as it has to go to the court is it like bankruptcy and your name appears in the paper. Live on a very small island and we are well know as we both work in the public domain. Could really do without our names appearing in the local paper which only comes out once a week and everybody reads it !!!!

[freelili]

It goes to the court because it is a legally binding agreement. Your name will not appear in the paper, so do not worry.

LILY

[jannette92]

Thanks for that makes it feel much better. I know there shouldn't be the stigma that there used to be over debt and that it is all in the mind when you think people are talking about you because they may have seen it in the paper.
But as my father used to say its a seven day wonder next week they will be talking about someone else.

[Dominic]

a seven minute wonder more like there is nothing to be ashamed of it is only money.

[Skippy]

I'm not religious, but I do know the bible says let he who is without sin cast the first stone.

Three down, fifty seven to go until freedom!

[Dominic]

And I have long held the view that if a person is only judged by how much money they may or may not have, then the person using that sort of valuation is someone I do not want to know.

[MelanieGiles]

Hi Jannette

The IVA papers have to be lodged at Court, because it is that very Court which gives you the protection from creditors continuing to pursue you. In this instance the Court is your friend, and as other posters have said there is absolutely no publicity with an IVA apart from the fact that it is registered on the IVA Register and with credit scoring agencies.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Oliver]

Great post by Melanie. The court are needed to rubberstamp your agreement so that you are legally protected. This is in no way something that will be made public or a process where you will have to appear at court.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[jannette92]

Thanks for your posts. When it has been to court will the creditors stop hassling. Argos ring every day at 8am and then again around 6pm or 7pm. They rang yesterday and my husband reeitterated what he had told them. They rang again about an hour ago. In all fairness the other creditors haven't been ringing since they were informed. Will they keep ringing until the IVA has gone through ? Does anyone know how Argos vote.

[aguise]

argos didnt bother to vote at my meeting but they didnt ring me either but I was up to date with payments until the iva process started. A lot of these creditors dont seem to follow a set pattern, they seem to act differently with different people, most people say mbna hassled them a lot but they didnt even ring me once, I got hassle from aa financial services, banks etc didnt ring either, it seems to be pot luck on who their telephone computers feel like picking on.

[freelili]

I have argos as a creditor, not much owed though, they have past it to moorcroft, they rang about tuice and were quite reasonable. HSBC have been the biggest pain they have days in which they ring every 15 mins and I think that is harrassment, I told them my mother had just died, it was during the first few days, but they kept ringing, they were not very polite either. They say they are a listening bank, I really dont think so.

LILY

[jannette92]

Thanks for your posts we have 5 creditors in all and I think most have rang and been informed.
Argos rang again yesterday and were told we had gone for an IVA the last person to ring did say they wouldn't ring again for 28 days. So perhaps the message is getting through. Not too worried about them as out of a debt of £45k we owe them £2k

The others have gone really quiet, so the stress is minimum. At least we have an answer for them when they ring up rather than bluffing when we can't pay.

Anyway papers lodged with court today and proposed creditors meeting for 19th Feb so fingers crossed.

I have to say that the company we used has been great and the IP we were directed to absolutely brilliant considering we only contacted them on 20th Dec.

Anyway I won't speak too soon

We are offering 44p in £ for a £45k debt so hope it goes through, anyway if not having gone this far I think only alternative is a bankruptcy and that is definitely the way we will go if not successful. Gettting too old to live with this debt and no way want to be paying it when I get in my 60's