Reading the account of your journey has given us great inspiration in the quest to sort out our own situation.
With your account it has enabled us to be one step ahead, this week we have been getting together all the documents that will be required for us to advance in the process, although we have not been requested to supply these yet, we feel it will save time in the long run.
We have opened a new account with Nat West( Step Account), this took a little longer than expected due to us applying on line, but our account details have now come in the post and we are ready to proceed with cancelling DD’s and transferring some to the new account.
I have contacted my employer with reference to changing my bank details with them, so that my wages get paid into the new account, so this will be sorted for next month as I get paid on the 20th.
It was too late to do it for this month as we only received the new account details on the 18th.
The situation is the same with my husbands wages, even though he gets paid on the last day of the month, his company use an outside company for their payroll, and require more time to change the details over, so that will be in place for next month also.
We are up to date with all our creditors at the moment, so we have not yet had the expected phone calls, I expect this will change when I start cancelling direct debits.
We have started to budget, and we look closely on what we are spending, some things have been cut back and some things we have cut out all together.
We have not used our credit cards for over a month and feel a lot better for this, and find that budgeting and looking at ways to save money will stand us in good stead for what lies ahead.
This is where we are at the moment, and we are hoping to here some news of our case moving forward in the not too distant future.
New leaf it seems you are well ahead of the game and a little time spent now will save you loads of time in the near future and make the process much easier for both you and your IP.
I must admit that I hadn't prepared as well as you and your wife and therefore although I was lucky in the short time (8 weeks) it took to get my IVA, I could of saved myself a lot of heartache and pressure by not having to spend my first couple of weeks rushing around to get my documents etc together.
I cannot fault your actions and you do right not to take another pennies worth of credit, as eventually robbing Peter to pay Paul has to stop somewhere and that time is now.
As you will of read I was lucky enough not to experience any bad calls from creditors and in reality found the majority of them to be understanding of my predicement, after all its becoming more and more common that people are having to take IVA's/BR and that position doesn't look as though it will ease anytime soon. All I would add is keep them abreast of your situation and keep regular contact. Obviously it will come to the stage where you will not be paying them at all or in my case a pro-rata payment prior to the IVA but your individual position will ultimately deem your actions required, suffice to say I did have some disposable income and paid my creditors a nominal pro-rata amount, however nothing like my original payments.
In any event the experts and experienced posters on this forum will ensure that your IVA journey is as smooth as possible and I have found this priceless.
Last edited by Pennyless on Sun Feb 21, 2010 12:48 pm, edited 1 time in total.
I came into this world with nothing and still have most of it left!
Hi all. Hope everyones well and thought I'd post an update.
Everything is currently fine with my IVA and I'm managing to meet my monthly obligations and also my IVA payments. Unfortunately last week my wife recieved a letter from Barclays telling us that our overdraft of £4300 had been passed to RMA/NCO Trading and that my wife was to contact RMA and immediately pay them the £4300 that we have no hope of raising.
We had previously attempted to arrange a payment scheme with Barclays late last year, however, when we went into the branch they said they had no records of my accounts therefore we left it for Barclays to make the next move, however what a stunning move they have made....we expected that they would contact my Wife (who wasn't included in my IVA, however is liable for the debt) and arrange someway by which the overdraft could be repaid in a reasonable timescale/amount, however it looks like they have gone straight for blood. In any event there is no way with my outgoings and her loan repayment that we can pay the £4300 so it looks like it will be off to Court. I have read a lot about RMA and they really do seem a determined bunch who can be less than civil on the phone. My wife only has this ovedraft debt and a £15k loan so doubt theres anything else...even a DMP that she could do....but any advice would be welcome.
Now recieved a card from RMA stating that they will call this Saturday between 8am - 8pm, but I think it will be a wasted journey. Not sure which way to turn at the moment as we really have had a load of car problems and had to pay out prctically every little thing we have tried to save.....the cars a neccessity but a really expensive one at that...and car tax just arrived today to boot!
Ah well such is life I suppose...all we can do is try to keep going. Good luck all and its really great to see the friendly stalwarts keeping everyone going....keep it up.
Last edited by Pennyless on Mon Apr 12, 2010 3:11 pm, edited 1 time in total.
I came into this world with nothing and still have most of it left!
Good to hear from you hope you are well, looks like you have had a few setbacks but im sure it will all work out ok, you have done well to get this far!
I think that calling card left was a phone call rather than a visit so hopefully you dont need to worry about someone appearing at your door!
I agree with Daniel that it will be a phone call, rather than a visit. It is worded in such a way that you think it is going to be a visit. Halifax did that to me, and I had neither.
I hope your wife can get something sorted out.
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
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
Wifes debt has now been passed from RMA to NCO (one of the same) and although she has kept writing to them (and emailing)they have refused to acknowledge any of her correspondance, suffice to say that the only way they will discuss the matter is on the telephone, which causes a slight problem as we refuse to give them our number.
I have spoken to an IP on these forums who is willing to assist in the matter and when eventually NCO do comply with my wifes request to send details of the debt then we shall get the big guns out. To-date they just keep threatening to send someone round (but no one ever shows) and take us to court but they cant get blood out of a stone.
Great to see all the regular contributors on here and the many new posters....you all do a great job.....keep it up.
I came into this world with nothing and still have most of it left!
Things not too bad at the moment and IVA is steady away.
Still have the ocassional down days when I wonder how I ever got myself and my family into this financial mess but I still read these threads and gain strength form others in the same predicement and how they deal with it.
You and others on here really are a lifeline at times.
I came into this world with nothing and still have most of it left!
As most of you know I took out an IVA last year, however, apart from my mortgage the only joint debt I had with my wife was my "overdraft" with Barclays (circa £5k), therefore whilst I was somewhat protected within the IVA, the debt and subsequent responsibility fell to my wife (who was unable to join me in the IVA).
To cut a long story short the Barclays debt was passed to RMA then NCO.....then back to RMA and finally back to NCO (over a period of a 6 - 8 months), during which time my Wife had weekly demands (and postcards stating that someone would visit...although no one ever did) and that we should call them to discuss the matter.
Having read some horror stories on the net about how some of their reps can be lesss than civil on the telephone, I sent various and numerous emails to the RMA and NCO, however, they neither responded or made mention of my emails in any future correspondance.
In essance all I was seeking from them was formal confirmation that the debt and its amount was correct/existed (as my bank account and any referance to it had been deleted as soon as they were notified of my IVA), following which my wife would seek a DMP.
Then last week due to my wifes growing concern and worry over their letters of Court action and constant postcards and letters, I used my mobile phone and finally spoke to them. They have agreed a "full & final offer) of just over 1/3rd of the debt, which my son (he's been a real star) has agreed to pay in order to get rid of the debt. Whilst on the phone I spoke to a few of their reps and they were quite civil, however, in all other dealings I would recommend writing to them.
So hopefully, thanks to my Son, my wife will not have to worry so much about the debt and we can concentrate on keeping our IVA payments up to-date.
Good luck to all of you and hope this helps some of those finding themselves in a similar situation.
Regards
Pennyless
I came into this world with nothing and still have most of it left!
That's excellent news Pennyless. So glad you are getting things sorted and that your wife will be debt free soon.
Good luck with the rest of your IVA and keep posting so we know how you are getting on.
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
