need some advice

[c.j]

have just sent my forms off and the debt people are working on my proposal. i have not paid my creditors as advised but the halifax are already talking about debt collectors. should i approach all my creditors and offer a token payment or wait and see what happens. i am worried because i will probably miss a couple more payments before the proposal goes through. what have other people done in this situation?

[animaleyes76]

Hi and welcome to the forum

Don't worry about the threats of the debt collectors. You can refer them to your IP or just tell that you are in the process of setting up an IVA.

It's all part of the process so don't worry. It can still happen even after the IVA is accepted as the left and right hands don't talk to each other.

Don't worry!
)

[lily]

Hi cj
If you want to make token payments to the creditors you can but you must give everyone the same. Believe me though it will not stop the threats and phone calls.

Please dont worry about debt collectors they very rarely actually call on you. Its just that they try to scare you into paying something. Youre doing all you can in a difficult situation, hang on in there. Call centre staff often get a commision for the money they extract from you and will say anything in order to secure a payment. Its quite easy to lose track of what you pay and to whom. The best thing to do is what your IP said to do. One thing that might help as with the phone calls is to write everything down, like I am going down the IVA route you will be informed of a b and c by (IP and company) and read it out, then hang up.

[ianmillington]

The perennial dilemma!

If the proposal is going to be ready in the next couple of weeks then it's pointless making token payments. If a couple of months then token payments make a bit more sense. I'd speak to the IP firm to seek their advice on the subject.

Ian

[MelanieGiles]

Token payments are a good idea as they tend to stop the phone calls and letters, however it makes absolutely no difference to the outcome of your IVA proposal at the end of the day.