Iva process started!

[Ruthlyn]

It's good to hear positive things about being in an iva. I know I've felt better than I have in a long time although I'm aware things will not always be easy

[country girl]

Yes do check about the equity release part of your IVA very carefully. Find out what will happen if you cannot re-mortgage and make sure this is all included in your proposal. I only was told verbally that my IVA would be extended for 12months but it was not included in my proposal and this is now causing me problems.

I would add that I am not with McCambridge Duffy.

[Ruthlyn]

I'm sure it was included....to be honest, I get a bit bamboozled with all the figures but at the end of the day, I'll be 60 in year five and no way will I be able to remortgage. If there are issues, I'll just sell up, pay what needs to be paid and buy a little flat somewhere

[Ruthlyn]

So the letters have started coming in - this is the first month I've missed so not too bad at the moment. Should I call the creditors and explain what's happening, forward the letters on the the IP or simply keep them on file?

[Foggy]

I would wait for the creditors to call you (unless they have asked you to call in). Some people ignore everything and hope the IVA takes effect sooner rather than later, many just explain to the creditors when asked.

Anything threatening, pass to your IP to deal with.

[Ruthlyn]

No calls but I keep getting messages on my mobile saying I've missed a call - obviously from creditors but the odd thing is the phone never rings! The numbers aren't on my blocked list either

[Ruthlyn]

Signed proposal documents returned,creditors meeting on the 25th June! Am on annual leave that week so will be free to call or receive calls. I can't believe how fast things have moved! McCambridge Duffy have been brilliant!

[Pandy]

We received calls from our creditors for ages even after the meeting (think it was about 3 months after) in the end the IP contacted them and we have heard nothing since apart from the annual statements they have to send.
Well done on taking this first step, it does get easier, the first year is the hardest as you are having to adjust to living within a budget and cope with the guilt. 2nd and 3rd year were just plodding on and getting through it, the fourth year was so slow but we could see light at the end of a long tunnel, and now we are into our 5th year it seems to have gone back to normal speed again.

[Ruthlyn]

Well - that was surprisingly easy! Answered a call from HSBC and explained that I was setting up an iva. No problem they replied, well just put a hold on your account so you don't receive any calls. Just let us know when it's been sorted and give us a reference number! Let's hope the others are so accommodating!

[Ruthlyn]

And Barclays done too! Again, very understanding and non judgemental....and I've so far had no further calls from HSBC.just got to keep everything crossed for the 25th when I'll know if the proposals been approved!

[Foggy]

I had surprisingly few calls .. I must admit I played cat and mouse with a couple. The AA were great, phoned twice, the second time just to wish me luck !!!

I had a couple of calls from an Indian call centre --- well, from and Indian representative ( might have been in Bognor Regis really ) Young lady with a cadbury's caramel accent --- I missed those when she stopped calling !!

[Struzzo39]

We didnt get many calls or letters really. Rbs seemed to be the worse for us. Good luck for your meeting next week. Keep us posted.

[Ruthlyn]

Well, my iva people called and there is already 85% of the votes in - whatever that means, but it all looks positive for Wednesday. I have to say, McCambridge Duffy have been absolutely brilliant and so far it's been a seamless process. I'm in no doubt that it's not an easy road ahead but with their help I'm sure I'll get through it. Thanks everyone at McD!