First payment in IVA??????

[mitchymoo]

Hi guys can you help???

Creditors meeting booked 20th oct, Our company advised us to have our first payment ready for that day if accepted they will take first our payment.

Does it have to be on this day, or can you set another day for it to be taken ??

Thanks!!

[MelanieGiles]

It can be at anytime within one month from the acceptance of the IVA.

[kallis3]

Some companies do like you to pay it on the day, however we weren't able to to as we had no way of doing it. We were able to pay it later.

I think that as long as you pay it within 28 days it's ok, but you need to speak to your company about it.

[Shining]

Hi, I paid one up front and this was my first payment which was to be returned if my IVA was rejected. I'm sure you can pay at a mutually convenient date to you and your IP. Have a word with them. I have mine go out the day after my salary is paid. x

[mitchymoo]

Just thinking it paybe better around the 5th of every month with wages etc, Will speak to them and see what they say. We are using payplan fingers crossed!!! x

[kallis3]

I'm with Payplan as well and we had no problem. Ours is timed to come out the day after payday.

I think they will agree to it.

[Shining]

All the best x

[TheMatrix]

Mine goes out the day after pay day too.

[mitchymoo]

Thanks Lesley x

[leaKybrain]

must admit i just assumed that we would send a cheque so its there for the meeting and then make first payment from bank just after payday the following month LOL, never even occured to me that it might be different

[kallis3]

It all depends on your IP company I think.

[Shining]

It's how I did it L and I'm with Melanie. x

[flow13]

We were able to chose the date for our payments to go out (we are with DFD). x

[Lord Soth]

By coincidence, my IVA was approved on the 20th October and my first payment didn't go out until the 1st December. I was with CCCS.

[kallis3]

We were approved on the 21st April and our first payment went out on the 1st May.