Letter to creditors

[Nanz77]

Hi i have just recieved my pack from the iVA company and it states that i should write to my creditors and inform them that i am going down the IVA route, does anybody have any suggestions as to what i should put in the letter? not really sure what to say, sorry i know its probably a silly question.

[kallis3]

Your iva company normally writes to them so you don't have to if you dont want to. I didn't. If you do then just explain that you can no longer afford to make full payments and have consulted whichever company to propose an iva for you. Just keep it simple.

[Foggy]

Hi. Which company is this? I was told not to bother and if any of them got heavy, to refer them to my IP. As it turned out, none of them did. The first my creditors knew something was happening was when payments to them stopped. I am guessing that some of them didn't know until they were invited to vote.

[Nanz77]

Hi i am with mel's team, there was just a sentence in the letter saying, 'please ensure that you send letters to your creditors, advising them of your intention of entering into an IVA'. but if i dont need to that would be great, i just want to make sure i am doing the right thing.

[Foggy]

I am sure Mel will come along and clarify for you, but if Mel was my IP< I would do as I was told !!!! LOL. Seriously though, if Mel thinks you should, then a brief note along the lines Kallis suggests will suffice.

[kat68]

hiya i am with mels team, and at this stage i received a template letter to send to my creditors, cant remember exactly what it said, but simular to what kallis wrote, just details of your account with them, your inability to maintain payments and your intention of having the iva advice company propose an iva for you, along with the name of your ip.
i did send mine, but i believe your ip will write to them anyway.

[Nanz77]

Thank you all for your comments, Kat68 did mel's team send you the template?

[kat68]

yes they did

[MelanieGiles]

I can arrange for one to be sent to you Nanz, but in reality we will have already written to them to put them in the picture so it is not wholly necessary. We just like to belt and braces the process, and some clients do like to still liaise with their creditors as well. Contact me off line so I can identify you and get the information to you soonest.

[Rosepetal]

hi, Mel was our IP, my hubby wrote a short letter to creditors& sent them recorded delivery. it made no difference, we still got lots of calls & letters.

i think that's partly because they have so many different dept.s & obviously just pressure to get a payment.

stand firm,keep your spare cash at this point for your emergency fund. well done for facing things[:)]

[Ivaniva]

Yes, I had the same experiance.
I wrote to all my creditors but the calls and letters kept coming until a month after the IVA was agreed.

[Rosepetal]

hi Ivaniva,yes that seems to be pretty standard,it's v stressful isn't it?

getting through the process,the acceptance brought the bliss of a quiet phone & barely any post!

[kallis3]

Some people seem to have no problems at all after contacting creditors. Others, myself included, get hounded day and night regardless of whether or not we speak to them!

I love the fact that it is mostly junk mail now that comes through the door and the phone calls are from friends and relatives!!

[Nanz77]

Thank you everyone thats been a great help, i can stop worrying about it now, still getting letters but i expected that from what i had read on here so will just keep sending them through to my IP and hopefully i will soon be set up in my iva and can start looking to the future.

[kallis3]

Don't worry Nanz, we've all been there. Just send them to your IP and let them sort it for you.