Post
by
63k » Sun Nov 25, 2007 9:08 am
I did the most minimum payments as I had never missed a payment, they still rang!! So I reckon stopping payments altogether is a good move, dont spend any of what you save, keep it for if you have a broken car/wash machine as 5 years is a long time. I also sent off letters to all my creditors, explaining the situation, recorded delivery (i add that) and I recieved 2 phone calls in 8 weeks!
Dont renew your phone contract get a pay as you go phone, its not the phone but the cost that matters now, my car insurers are still happy with me,I dont think they need to know and they dont know I am in an IVA!
I opened an account with smile, it is great they are happy with people on an IVa and you can do most of your banking online and at the post office! I got a normal bank acc and reduced the overdraft to £10.
We had £75,000 worth of debt, offered 25p in the pound and were accepted within 1/2 an hour of the meeting! Dont worry if you have any worries this forum will set you straight...Always reach for your mouse and this webpage first! I rang my IVA company and got a better answer from here as they are call centre staff there!
Hope this helps!