Help please

[maya]

I am in the process of going for an IVA however its been 3 months now & no news yet . I have a few questions though: Does anyone know if my employer will be informed on this i.e. that i'm going for an IVA ?[?]

As well im getting a lot of threatening letters from debt collectors which state that they will serve me legal notice .. & inform my employers... will anyone be able to shed some light on this ,please?

Thanks for the support in advance.

m

[Storm]

The reference to employers normally relates to an attachment of earnings order which they could apply for if they were given a County Court Judgement.

Debt collectors are not permitted to disclose any information to your employers.

Your employer does not need to be notified of your proposed IVA.

[maya]

Thanks for your reply , i really appreciate it . I have a lot of other questions , which i will post in due course.

Thanks again

m

[bluebelle]

Maya,

Who is your IP company?...3 months is a while to wait unless your case is complicated. Has your IP drafted your IVA proposal yet? Have you paid any upfront fees yet?

[maya]

Hi Bluebelle,

I went thru' Debt freeme & have paid them for the past 3 months & its only now that I have been contacted by the IP, though ofcourse with the holidays I beleive he will be sending me the paperwork next week, & no i reckon my case isn't complciated.
Do you feel that i have gone thru a wrong route , I hope that by the end of Jan it should all fall into place. Please let me have your thoughts. Its all just a mess...[:(]

Thanks

maya

[neverending]

Hi
I think if you had not paid money upfront your IVA would have been processed alot quicker.
We so need legalslation to stop IPs from taking money before an IVA has been approved.Do you know what will happen to your money if it is not approved ???
What have they actually done in the last three months apart from count your money ??
It makes me so angry !!!
You need to stick with them but hurry them along,phone them on a regular basis.They will earn thousands from a succesful IVA so make sure that they actually EARN it.

[bluebelle]

Maya,

3 months and you have only just been approached by an IP...that is absolutely disgusting!
Neverending is right...you have already paid a significant amount of money to them and therefore ideally you will need to stick with them unless you are prepaired to loose the money you have already paid. You need to chase them up pronto (they need a rocket up their backside...putting it politely!). I was lucky. To be honest i didn't really shop around before i entered my IVA process (it is always a good idea to shop around first) but fell lucky on a good company. My IVA was approved within 6 weeks of the initial phonce call. I did ask how long it would all take between the different stages. When you speak to them ask them to give you some timescales.

There are such a lot of cowboy organisations out there offering debt solutions and when you are desparate you are just grateful that someone is willing to listen and help. Hopefully your company will not be one of these and will soon sort you out...after the rocket of course!!!!

Good luck

Bluebelle

[maya]

Hi Bluebelle & neverending,

Thanks for the support & advice. I will get on their case tomorrow & will keep posting any updates. I have no idea what they did over the last 3 months but the calls from the creditors did stop , but i have started getting letters from debt collecting agencies ( where the debt was passed on ) & this is very very stressful . Im hoping that the IVA gets set up by atleast end of this month .... Im just so worried .
I wish there was a proper channel to do this so that people don't get duped, though on the bright side atleast this forum exists !!
Thanks again , i will post an update soon.

maya

[maya]

Hi,
Just got a 'letter' from my IP today asking me to sign & return the nomination forms & letters of authority. However , it does mention that I should start paying immediately & that in case the IVA does not go thru , then the fees for the IP will be taken from the monies paid prior to the creditors meeting ---- is this the norm ?
I don't know where to turn to ... Can anyone please give some suggestions.

Thanks
maya

[neverending]

Hi
So you have paid Debt freeme three months payments and now the actual IP wants you to continue paying,the only one that can lose in your case is,unfortunately, yourself.What happens to the money that you have paid Debt free ? Is it passed onto your IP or are they keeping it for their fees ?.How long does your IP think until you get your creditors meeting ?
I can,t see any other way forward for you than to continue with the company that you are with but do not be afraid to ask questions and make sure that you understand everything.Above all chase them as you have,in my opinion ,been treated badly.
Another case for better regulation.
Regards

[scaredkez]

hi maya i would just like to add that once i had been put over to the ip they told me i had to start making payments towards the iva, they took 5 months until a creditors meeting, changed the payment values several times, i paid them £1566 my iva was rejected, they informed me then and only then i wouldn't be receiving any money back as i hadn't paid over £2500 which is what their costs were, so i would urge you to get in writing what will happen to your money should the iva be rejected and don't make the mistake i did
kerri

[neverending]

Scaredkez
Your posts will be of great help to many people reading this forum.Keep posting and let us know how your own situation progresses.
Kind regards

[scaredkez]

i certainly will do, phoned the court today to request the BR pack and the lady said can't you come and collect it, its too expensive to post!
kerri

[freelili]

kerri

You can do the forms online www.insolvency.org.uk. Or obtain from your local CAB.

Good luck with everything, you really deserve it

LILY

[Skippy]

Good luck to you both Lily and Kerri - you both deserve it x

Three down, fifty seven to go until freedom!