"Hidden Problems" Section

[piedro_]

It says above that you will not be pursued by creditors whilst you are under an IVA, then in the "Hidden Problems" Section, it says that you can be pursued?

Thanks

[Oliver]

You might find that creditors continue to contact you in the early stages after your IVA has been accepted (systems not updated etc...) but they have no legal recourse for any action against you whilst you are in an IVA.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[iva experts]

As an IVA is legally binding on both sides, once you and your creditors have come to an agreement they can no longer harrass you for payments.

Best Regards. IVA Experts

[Sadsack]

As the other experts say, it does take a while for information that you are in an IVA to filter down to the various departments. However, there are some companies that just don't filter this information and you can get continually harrassed. If this happens, just be very pleasant and inform them that you will make a complaint of harrassment under the Administration of Justice Act 1970.

sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[iva_squirrel]

Good evening,

Unlike a traditional debt management program an IVA is a legally binding agreement, and once accepted your creditors can never bother you again. Creditors are not allowed to add interest or charges to your accounts by law, and the agreement is fixed, meaning that creditors cannot randomly demand changes to it. However you might find that creditors continue to contact you in the early stages until their system is updated.

Kind regards,





Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm

[piedro_]

Thanks for the advice guys.

What is the best way to kick off an IVA then? DO I approach debt management companies?

Cheers

[Adam Davies]

Hi
You can or you can contact an Insolvency practitioner direct.
I would speak to several on this site and go with the company that you feel confident with.
Regards


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[piedro_]

www.trapped.co.uk

I am very nervous about starting this. Do you guys think the above look ok to go with?

Any help is greatly appreciated.

[Adam Davies]

Hi
Why don,t you try and find an IVA provider that is close to where you live so that you can have a face to face meeting.
It is hard to gauge a company from an internet page.
Also have a look at IVA.com,they have feedback on specific IVA providers.
Take your time
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[piedro_]

Thanks Andy. Im just not sure about this whole thing. For starters, I dont see what the IVA provider is getting out of this, and also, why they are so keen to help.

I spoke with a lody from this company last night, and they took note of all my debts, and said they would look for an IVA of £407.00 per month, based on my 40K debts. This seems very good to me, as it is a hell of a lot less than im paying at the moment on bills.

Are there companies out there looking to make money from me, and should I be wary?

Thanks in advance Andy.

[piedro_]

Found an IVA Provider in Liverpool. Just enquired about this one also.

http://www.ivaliverpool.co.uk/

[iva experts]

I would always advise individuals to contact at least 2-3 companies, as this is re-assurring and can cancel out any ill advice that may be given.

There are companies out there that may want to make money from you BUT this is a very big decision and I would advise that you do your homework. Making a decision to go into an IVA should not be one that is made lightly.

One of the main points of an IVA is that you make an affordable monthly payment to your creditors, which in most cases means a considerable amount of debt gets written off.

Best Regards. IVA Experts

[piedro_]

Ok, I have now spoken to 3 different companies. On my 40K debts, one company has said £407 a month repayment, one said £430 and one said £450. The first company seemed to be the most helpful, despite that being the lesser repayments. I must have been on the phone to them for 45 mins last night, whereas I only spoke to the other two for about 10 mins each today.

I have to go for an IVA, as I cant see any other way out of my problems.

So, if I kick this off by looking at the forms ans returning them tomorrow, how long should I expect to wait before the IVA begins??

Thanks for any advice.

[Adam Davies]

Hi
They will earn about 6-8k out of your IVA,that,s why they want to help so much.
It should take 6-8 weeks to get the the creditor meeting stage.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[piedro_]

Great, thanks for all of your advice Andy.

I am pretty satisfied that this paticular company are doing all they can to help me, so im going to go with this one.

They have said that as soon as I sign the forms and send them back with all of the relevant paperwork, I can stop paying my creditors. Now, say I have two direct debits set up for loans, what should I do with these? Cancel my direct debits?

Cheers again.