Help!

[rockstarloz]

After talking to several people on this forum who have been really helpful I am starting to realize I may have made a massive error in my IVA company. Basically its the company linked to moneyexpert and they have said that on the day of the meeting I need to pay the £333 I intend to pay into my IVA. If it is rejected they keep this as fees. I thought this was normal procedre until I have looked more closely into it. I was very niave and so worried that I did not start questioning these things and now it is too late. I have the creditors meeting date set. I am going to ring them and talk to them about his because in the worst case scenario I could be rejected then I will struggle to pay anything to creditors that month at all. I have read someone had this problem with the same company and they wavered the first payment until the IVA was accepted. Really wish I had found this forum earlier!! I feel very stupid and now worried!

[kallis3]

Hi Rockstar,

I am with Payplan, and they wanted me to pay upfront, but as we have no cheque book or debit card, we could not make the payment beforehand. They were fine about it and we just set up the standing order afterwards.

I think a lot of firms ask that your first payment is there for your meeting as it shows your creditors that you are willing and able to pay, but ours went through ok.

You are not stupid, we all have these thoughts and worries, it's only natural.

I am sure everything will go ok.

[rockstarloz]

Thank you Jan for the reply, thats eased my mind. I hope it all goes okay. I am just worried that they will take the money as fees if it does not go through. I can pay the money but if it does not go through its going to leave little to pay my creditors anything.

[kallis3]

I don't know about the fees as if my IVA application had been rejected, I would have gone DMP with Payplan and they don't charge for that.

Come to think of it, I don't remember anything being mentioned about what would happen with my first payment if I had been rejected.

Perhaps worth speaking to your IP on Monday to ask if you can make your first payment once it has been approved?

[rockstarloz]

I will do thanks

[Kazzy E]

Hi Rockstar, I am with Mel and have just sent my proposal back with a cheque for my first payment, assuming it is accepted. Mel has confirmed that if rejected, I will get my cheque back. Kazzy x

[rockstarloz]

Thanks Kazzy, I will speak to my IP on monday. Just last minute jitters I think!