DO NOT UPSET YOUR CREDITORS

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OPTIMIST12

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Post by OPTIMIST12 » Wed Dec 12, 2007 2:47 pm
It is inevitable that - whilst your IVA is being prepared - and for a while thereafter - you will receive demands for payment and / or other contact from Creditors.

This is just a suggestion but - please - do not adopt an approach with creditors that "I am in an IVA and you cant do anything etc. etc." Even though an IVA has been accepted you (and me!!!) are still fully in debt for the outstanding balances until the IVA is satisfactorily completed and a Certificate of Completion has been issued. All the Creditors we had pre-IVA are STILL our creditors and will remain so until the end of the IVA.

The Creditors have been very generous in agreeing to potentially write off a significant percentage of OUR debt and should something go wrong during the IVA (I believe from other threads that 20% - 30% of IVAs fail) you (and me!!) will have to go back to the creditors to seek further assistance if you decide to go for a DMP or to pursue some other route.

I think I have been criticised for this analogy in the past but - treat your creditors as you would friends or family. You (and me) borrowed the money in good faith - it is our responsibility to repay the maximum possible. Personally I was stunned when I found out the truth about IVAs - it is frankly unbelievable and incredibly generous.

So - please stay on good terms with Creditors - they leant you the money but YOU (and ME) borrowed it!!!! We all knew the score. And 5 years is a long time.

And on another completely different point - I have been out today Christmas shopping and have bought some very small items but - to quote a cliche - it really is the thought that counts and a small (financially) gift can bring just as much pleasure as something extravagant. I am one of those who has told (literally) no-one about my IVA and I do intend (touchwood) to keep it that way.
47 months completed - 13 months to go.
 
 

insol

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Post by insol » Wed Dec 12, 2007 3:14 pm
fantastic advice, i wish all my debtor's were the same. i did do a lenghty response but deleted it as i felt it inapropriate here. but rest assured if your nice to me and my team we wil deal with your case fairly. if your not prepar to see "special mods" not only for the original meeting but any variation you may have afterwards. i'm not a bad man really. i'm quite nice if you get to know me.
 
 

OPTIMIST12

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Post by OPTIMIST12 » Wed Dec 12, 2007 3:34 pm
Hi insol -

Can you not post your lengthy response - I am sure it would have been valuable and interesting!!!

It is always 100% interesting to hear views from the other side of the IVA fence!!!
Last edited by OPTIMIST12 on Wed Dec 12, 2007 3:36 pm, edited 1 time in total.
47 months completed - 13 months to go.
 
 

Skippy

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Post by Skippy » Wed Dec 12, 2007 3:40 pm
I can see your point but when someone is having a go at me on the phone, please don't expect me to take it without saying something back! Yes, I borrowed the money (always intending to pay it back) but just because I can't doesn't give them the right to treat me like something they trod in!

Since I have been bankrupt I have had an arguement with Littlewoods after they were rude to my mum - there is absolutely no excuse for that as it's nothing to do with her. I have also fallen out with Tesco who were hassling me for payment - I explained the rules of BR to the idiot on the phone and he still wanted a payment! I also wrote a snotty letter and they didn't have the decency to reply.

Feel bad that the likes of Natwest, Barclaycard and Egg won't get any money back - they treated me like a human being unlike some of the others.



Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

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debbiw

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Post by debbiw » Wed Dec 12, 2007 3:50 pm
Well said Skippy!!
 
 

Skippy

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Post by Skippy » Wed Dec 12, 2007 3:52 pm
I've just re read it and it sounds like a rant![:I]

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

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Last edited by Skippy on Wed Dec 12, 2007 3:52 pm, edited 1 time in total.
 
 

insol

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Post by insol » Wed Dec 12, 2007 4:04 pm
i can sympathise. When i answer the phone i always endeavour to be chirpy and pleasant. you can tell immediately from the tone of the caller how the conversation is going to pan out. i would never be rude. i may be blunt and tell you things you may not like to hear but not rude. i have had dealings with debt recovery firms for financial indiscretions in the past and they had been rude. one woman from a firm called Newman Debt recovery was exceptional. however i was polite but curt. i would recomend that you instruct them to write to you and that you won't speak to them on the phone. then back that up with a letter. if they persist in calling threaten them with harrasment.
 
 

insol

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Post by insol » Wed Dec 12, 2007 4:08 pm
no appologies needed skippy it's good to get it off your chest. at the end of the day i will speak to people as i'd expect to be spoken to. however you can only poke a bear so many times before it bites.
 
 

Skippy

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Post by Skippy » Wed Dec 12, 2007 4:41 pm
You sound like one of the nice guys!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

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aguise

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Post by aguise » Wed Dec 12, 2007 5:15 pm
Nice to hear from you insol. I had no porblem with being called and felt it only fair to explain the situation, but unfortunately some of the callers do treat you as skippy said, I had one call me 14 times in one day, after just having had an operation, not speaking ,putting the phone down in mid conversation, saying it would cost me £10 every time they called, and finally reducing me to tears. I answered that phone every time and I knew who was calling, as I put a ringtone on the phone. I did as you say in the end ring their customer services and made a complaint that it was harassment and was illegal, and was told the calls would continue as they were doing nothing wrong, I begged to differ and quoted the telecommunications act and she went quiet and ended the call. I did receive a few more but complained every time back and they did then hold the calls. I am a fairly strong character and though upset at one point by it, did as usual and picked myself up, researched and managed to deal with it, politely but firmly. The problem is that not all have the character, or the knowledge, to in effect defend themselves from these callers who's actions could in have a devastating effect on someone who is already stressed about their situation and is at least trying to put it right by dealing with it.
I also say that some of the creditor calls were kind and polite and these were appreciated, and I always told them so at the end of the conversation. I think companies should monitor the way their callers are dealiong with these calls and stop the ones who are overstepping.
Only my view and no offence meant to anybody who does this job.

Ang


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Last edited by aguise on Wed Dec 12, 2007 5:16 pm, edited 1 time in total.
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northumbrian69

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Post by northumbrian69 » Wed Dec 12, 2007 9:25 pm
Don't upset your creditors, not very easy to do, Insol seems like one of the good guys, unfortunately the vast majority don't conduct themselves the way he does, most of them are rude and very aggressive.
I was harrassed for months at work, late at night, on my mobile, it got so bad I was worried I was going to lose my job due to the incessant calls to my work.
I always tried to be pleasant and explain my situation in a structured manner, unfortunately some of them only wanted to squeeze a payment at any cost, it's very hard not to react and trying to be pleasant is almost impossible.
The people who phone you are invariably on commission and don't give a damn for the facts.
If I sound bitter it's because I am, well done to Insol for being fair, unfortunately you are in a minority
IVA COMPLETED ON THE 17th MARCH, FINAL I&E COMPLETED 26th APRIL, COMPLETION CERTIFICATE ARRIVED 2nd AUGUST
 
 

Skippy

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Post by Skippy » Wed Dec 12, 2007 9:45 pm
Another problem I had with MBNA was a language barrier - I am assuming that they have an overseas call centre. It's very difficult to have a conversation about something as serious and confidential as debt and an IVA when you can barely understand the person.

BTW please don't think that I'm being racist as I'm not!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

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jpj

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Post by jpj » Wed Dec 12, 2007 10:16 pm
Optomist makes creditors sound like some dear old friend who has lent you some money and you cant pay them back! To these huge companies we owe the money to we are not names,we are case numbers! Our debts are are factored into their charges in the first place,hence why they are so high!
Optomist, If IVAs were not about, I for one would have gone bankcrupt and my creditors would have got nothing...generousity works both ways!
 
 

beresford

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Post by beresford » Wed Dec 12, 2007 10:25 pm
In fairness the most of my creditors were reasonably ok with me during my IVA set up such as Barclays, Capital One and Cahoot. But I was completely hassled by Payday Loan Company. I received letters from them all the b***** time about how they were going to take me to court, threan me with bailifs and then after the IVA was complete they wrote a letter to my house addressed to 'The Occupier', which my mum opened and nearly had a heart attack because of the threat of legal action. This was despite me having sent them several written letters and emails to confirm IVA proposal and subsequent acceptance. So when my mum opened the letter she got on the phone to them and well lets just say there was nothing polite coming from her mouth. Sorry for going on but sometimes it's hard to be nice after being treated in such a manner.

Thankfully, this was the only creditor that treated me like crap during IVA set up and the remainder were really fair considering my circumstance. So I would like to thank the more considerate people who work for creditors like Insol.
Last payment made on 1st Nov 2011. Happy to be debt free!
 
 

mish1953

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Post by mish1953 » Wed Dec 12, 2007 11:37 pm
Skippy -- language barrier - heh heh heh [8D]

Ye see I kin spiel guid inglis if am in the richt kinea mood but if am jist a wee bit contary ma tongue gits real braid then ye hiv nae chance o funding oot whit am ane aboot , y'd never jalouse it at aa.

My gran aye speiled lallans an a wus brocht up wi it.

Lallans or scots is a recognised minority language.

It would be worse if I used the gaelic

Slainte
Mish
[:o)]

Will an automatic discharge hurt.
Early Discharge is not an illness !
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