external debt collector

[Martha07]

I am currently in the process of proposing an iva and clearstart are in the process of drafting my proposal. I am just strating to get hassle from my creditors as I have now missed 2 monthly payments. Yesterday I had a call from Argos saying that if no patment is made within the next 17 days the debt will be sold to an external debt collector. What I am wondering is, will this affect the Iva and will it have any bearing on argos's decision?

[abc]

If you have engaged your IP, they should have sent a letter to all your creditors advising them that you are proposing an IVA. So they should start contacting the IP direct.

Should have no bearing on voting if the debt is sold on.

[MelanieGiles]

And often the debt purchasing companies are far more commercial than the original lenders!

[zoe]

I had an Argos card and received letters from Moorcroft debt recovery. Their address was the same as Argos's!
They sent me the same letter every month threatening bailiffs etc - this went on for about 3 or 4 months - noone came!
Z

[Reviva UK]

Hi Martha07

if youhave only missed 2 payments you shouldn't need to worry. In my experience this won't effect the IVA proposal - the big companies don't take things personally.

One view is that they may actually vote against the IVA if you haven't missed any payments. After all if you can meet the contractual payments why would they agree to you paying less over time?

Also don't worry about someone phoning or turning up asking for money. They have no legal authority if they are debt collectors.

Bailiffs are a different matter but you need to go through the county court process, receive blu & white forms and have a CCJ registered against you etc etc before they come round. The creditors haven't got time to go through that process if you are already talking to Clearstart.

Threats & inuendo are very different to court action.

I would really encourage everyone to read the chasing letters carefully. Usually the most important word on the letter you receive is "MAY".

We MAY pursue you through the courts,
We MAY pursue you for Bankruptcy
We MAY phone you 400 times a day and drive you crazy
We May get a charging order

get the picture?

Sometime the journey to become debt free before the roof falls in is a race and things get really nasty. Sounds to me you are on the last lap and your creditors don't know the race has started yet.

Good luck