I am currently pursuing a possible IVA. However the process is unlikely to start until well into the new year. I have paid my credit card payments for December, apart from one of them and even though payment is only 6 days late, they have started phoning me on my mobile and at home. I don't know whether to answer them and explain the situation or to just ask them if they would accept a token payment of £50 or so for now. I guess once I stop making payments to all of the cards in January, I can expect a barrage of phone calls, day and night. Any advice on how I should handle this please. Should I call them back and explain or should ignore their calls.
Hi there
my advice would be, having started the process either to be strong and ignore the calls - do you have the ability to screen your calls? have you considered changing your number? always an option if it gets too bad OR speak to them advise them that you have commenced an IVA with...and that they will bein touch and then put the phone down, don't get embroiled in long conversations...all they want is to try to get a payment out of you even if its a token payment, hang in there, and if you need help you know where i am Melanie.n
I agree with Melanie xmas baby. The calls are very stressful but don't let them get to you. Don't be bullied into paying anything over, these people in the call centres are on commission and will try anything. Don't worry if you decide to tell them about going for an IVA and they say they won't accept an IVA - they won't be making the decision. It's just another little ploy they try.
One thing you could do is change your numbers, that way they can't phone you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
You could also try reverse psychology and tell that you have been advised to go bankrupt and are saving up the money to pay for it. However, you have spoken to an IP and you may be able to propose an IVA but if the calls continue you will have no option but to petition, just for peace of mind.
Many of these creditors use bankruptcy as a threat because they assume that debtors do not understand. Ultimately they do not want you to go bankrupt as they lose everything so a threat to do so often works in your favour.
If you have made the decision to seek an IVA or Bankruptcy then I would make no further payments to your creditors ...... write to them all a standard letter informing them of your decision and give them your IP company details...your IP will soo be writing formally to them too so it will all marry up......the money you save in paying your monthly payments hang onto as you may need this for your IVA or for emergencies in the coming weeks - I know we used our two months payments for a deposit on a flat etc when we moved .
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
xmas baby- I'm at the same stage, the calls have just started, texts too now. I don't answer the calls to my mobile as the number is displayed. If you do answer by mistake, then don't answer their Data Protection questions, they can't discuss anything if they can't confirm who you are! I give a random date of birth, they can't contine with the call. I know, I work in a call centre too. Firms will get fined if they give out financial information to the wrong person.
Advising a creditor that you have taken professional advice but do not want to go down the route recommended can often result in a far more favourable scenario for the individual than simply doing nothing.
For example, 1 missed credit card payment can typically lead to the next months statement asking for double, PLUS the late payment fee, PLUS the over the limit fee. Taking the bull by the horns and advising the creditor that you are willing to make the next payment in full, plus a little to help clear the balance from last month, providing they agree to freeze all the penalty charges, otherwise you may have no option but to go down the BR/DMP/IVA route will work brilliantly, in my experience, in over 90% of cases.
If it doesn't work then what have you lost?
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
