new and am waiting on an IVA descision

[inabitoftrouble]

Hi,

I found this site this morning after another letter through the post, followed by me phoning to try and make an arrangement to pay but found out i'd missed being able to pay by instalments and they want 2000 pounds by next week [:(].

I decided to phone up about an IVA and was put through to thomas charles.
The lady i spoke to was really nice.
I owe approx 20k with my 2 biggest (5k and 8k) in loans from lloyds tsb, the others are various store cards and credit cards.

After being on the phone for just over an hour my mind is a little at rest - not entirely, i'm still worried about this 2k payment that these people want by next week :S

Anyway, any advice would be great - i'm just waiting on paperwork being sent to me and for me to have some money to pay the 1st fee payment.
Roughly how long will it take from now before i have an IVA in place (if successful)

Thanks in advance - sorry if this is a bit warbled, i've never been this much in trouble and i'm a scared mum of 3 small children

[MelanieGiles]

Thomas Charles will review your case and refer you to an insolvency practitioner. They will be able to advise you better on timescale, but insolvency practitioners usually take between 4 to 6 weeks to process cases from the time they are instructed.

All you can do with regard to this creditor is advise them of your intentions and give them some idea of when they can expect to receive an IVA proposal. That will probably buy you some time over the next couple of weeks.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[e.h]

Hi there

Just remember you are not alone, this forum is packed with people who are in the same position as you and there are some brilliant experts who can help put your mind at ease.

Regards,

Liz

[iva.com]

Hi inabit...

Welcome to the forum. Once you are referred to an IVA firm you might find our site useful. We maintain a list of IVA firms and IPs. We also publish reviews on their services that have been posted by their clients.

Good luck with finding the right solution.

Kind regards,
Terry Balfour
IVA.com

IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp

[lily]

Hi

Dont worry about the 2K, I am sure even they realise its an unreasonable request. The callers are from call centres who are paid to say anything to get a payment from you. It puts you under pressure and stresses you out but there is actually very little they can do just yet. (which is why they pester so much in the hope you will give in).

The main thing to focus on now is taking time to understand exactly what you are doing with an IVA. Dont agree to anything that you cannot afford.

Its a scary time but it will get better and facing up to your debts as you are is the most important first step.

Good luck with everything.

lily

[jasperyogi]

Hi there, just wanted to say not to worry about the 2k. we owed lloyds 31k loans and had a 5k credit card with them. They never bothered us at all regarding the loans but hounded us like sharks over the card. I think they just hound you for the smaller amounts thinking they can get something from you. When they call next just be polite and explain what is happening to them. I spoke to quite of few of them who were really nice but a few who lived to be nasty!!
Dont take anything they say personally ok, they are just doing their job. Please dont think of you situation as "being in trouble" everyone I know has debt, you facing yours and sorting it out. As for the first payment we were advised to cancel all our payments to our creditors then used this money. good luck with the IVA
Why spend life worrying...when you can spend it smiling!!

[puffa]

You should receive Thomas Charles stuff quickly, I has mine in a couple of days and then once first payment was made letters of authority went out to each creditor and the phone calls reduced, they have not stopped but when i explain the situation they have it on the computer now that they have received the letter...
The Creditor with the smallest debt was the one that was hounding us, they phoned everyday up until 10pm at night as well, demanding payment, Just rememeber DONT pay them even when they pressure you.

Most of all dont worry,, any problems remember your Thomas Charles rep is only on the end of the phone to help...

Regards

[inabitoftrouble]

thanks everyone, my TC stuff has arrived and i have read it, just need to find all the documents i need to send back and get it sent back.

I cant make the 1st payment til 2 weeks today though but my rep has said if i start getting more threatening calls she'll make a start and trust that i will pay it, which i will becasue i really need and want this to work out.

[lily]

Its a daunting time and thats understandable, however I feel youre in good hands and can begin to relax a little. This decision could change your life.

Good luck

lily

[inabitoftrouble]

arghhhhh another letter in the post today - again for one of the smaller debts (a little under 1k) saying if i dont pay in the next 7 days then they'll send someone round to "discuss" the matter. this is for my capital one credit card.

Any ideas what i can do for the moment?

[lily]

I would be surprised if they turn up, I have had loads of these and noone has ever been, I stopped paying my credotprs in sept 06. If they do turn up. Then ask them to go away, do not discuss anything and if they do not leave, call the police. They have no power to enter your property and you have the right to tell them to go away. Its a scare tactic that gives us the screaming abdabs.

I have written back to most of these informing them that I am taking steps to resolve my situation, and will not enter into a verbal discussion with anyone calling at my home, any caller would promptly be asked to leave. The same goes for phone calls, I do reply to every letter though.

lily

[inabitoftrouble]

thanks lily

I was just thinking of being "out" when/if they call round...

[lily]

I know its hard, this was my bigest fear but dont be intimidated, you are trying to sort it out and thats all you can do.

I hid away for six months, its not healthy.

lily

[OPTIMIST12]

This is certainly different to todays "A Nice Letter From Cap One" thread. I am sure if you give them a call and tell them what is going on they will put your mind at rest. Particularly as the amount is relatively small.

[BrassicLintus]

I went BR 2 weeks ago and one of my creditors are still phoning work (even though I spoke to them months ago and told them I can't take personal calls in work - mainly because I'm busy driving trains!!!) Morgan Stanley have finally stopped harrassing me - spoke to a lovely lady, told her I was BR and she assured me no-one else would contact me. Still getting the odd letter demanding payments but spoke to my OR this morning and understand that it can take around 3 months for it all to be sorted so not to worry too much. I had a "postcard" through my door last week from one of my creditors saying they would be sending someone around but no-one ever turned up, so I wouldn't worry too much. But as others have advised - just let your creditors know what's going on - (I didn't have the guts to do it by phone!!!) I wrote to them and told them I was having difficulty and would keep them informed. As far as the phone calls go - they would demand payment, I would just state what I had put in the letter, they wouldn't listen so I would hang up!!! It is a daunting time, but just keeping looking forward. As Lily says don't hide yourself away. Good luck.