if ive read your posing correct youre in the process of either getting the documents ready for your iva or your awaiting the date for your creditors meeting ?
if thats the case you are best to stop paying them because that money should now be going towards a contigency fund for your first months payment. and if you have any little emergencies etc.
can you just clarify if youre awaiting the creditors meeting or are getting your iva documents together ?
I have my creditor's meeting date already - its on the 23rd November. All my November payments went out on Friday so I will have no contingency - i've never missed a payment (albeit it sometimes I have been a day late) so I thought I should just continue to pay - showing a bit of good will.... I have just been on digital banking and cancelled all my standing orders - I can probably retreive my loan payment before the meeting - if the RBS haven't cancelled my switch card - as this payment has been transfered to the RBS account (where my loan payment goes out from on the 1st of the month) from my new Alliance and Leicester account! Hope this garbled message makes sense??
im not telling you anything bad-its for your own good. ive learnt so much fromt his site and you sound like a decent thoughtful person but from what ive learnt it will show good will but will not enhance the decision your creditors will make so thats why i would keep a bit back-the reason im saying this is because your creditors already are vaguely aware of the situation regarding you setting up an iva. i would keep back what you can -youre not doing anything wrong and they will not look upon you hoarding back their rightful money either-you need that to put towards your first payment and expenses. everything is going into your iva and it is from their it will start to get slowly sorted
what is going to help your iva acceptance is the plan you and your ip have drawn up together-making another payment will have no affect on the outcome but it shows you have very good morals and principles !
start building up whatever little bit you can you will not be frowned upon by your ip-you are just being sensible and they will see that.
its not easy but please try not to worry. im sure they have got a brilliant proposal drawn up for you-you just need to sit tight and look after yourself[:)]
Last edited by flumpy dog on Sun Nov 15, 2009 4:03 pm, edited 1 time in total.
I've just called the Alliance and Leicester and they have been able to reverse the payment of £296 back to my account as the payment date was the 15th so it hadn't actually left my account - there was a £10 charge but better than risking trying to get the money back from the RBS once it hits that account. This would cover my first months payment if needs be - should I have tried to stop the others? Think I have about £400 contigency now - without annoying too many of my creditors! Just worried if the application is declined (god forbid) and I am left with paying my minimum payments plus any late fees[:(]
ok if the worst comes to the worst everything can be put together and you can try for a debt management plan and then retry for an iva at a later date
BUT ! you are not to be thinking like that BECAUSE ! your ip is spending a lot of time and effort tweaking your proposal making it the best offer you can give your creditors and although im soooo far from being an expert i do know that they just want a realistic return on their money its not just a case of no we dont want to say yes go away !
and like ive already said as bad as it sounds theyre not going to go "ok well this persons been very good and paid up til now so we say yes " either.
the decisions sometimes arent even made by the actual creditor-say for example capital one-i had debt with them but they used an outer body to make the decision for them so it wouldnt matter what i paid them because it wasnt them making the decision-the person making the decision is looking at your debt as a whole.
its a case of ok how much debt how much spare-is this a good offer is it realistic. reasonable all that kind of stuff so your ip is going to be looking at you as a very sensible person for making sure that youre getting your finances in order to make the payment and why leave yourself so short when the debt is going into the pot as a WHOLE.
not making a payment for one month WILL not alter their decision-again it may not be capital one doing it and they are not looking at how good or bad your payments are because thats the whole reason youre doing the iva so you can start to have a bit of a life ag[:)][:)]
seriously what you must do now is save whatever little you have spare and make sure you eat and everything !!!!!
put your trust in your ip
use this place 24 hours a day if you have to to keep you sane-i did but im still mad ! please please look after yourself-im sure you are doing your damnest and the creditors will see that through what your ip is proposing to them. hang in there and keep posting x[:)]
Last edited by flumpy dog on Sun Nov 15, 2009 4:31 pm, edited 1 time in total.
One last question today - what do you think I should do if my uncle's funeral is on the 23rd - obviously I don't want to be on the phone at 12 if I can help it - but this is important so if necessity must I will have to come up with something.
I am 110% committed to paying as much of this off as I can - it's my mess and I want to get out of it - just need a little help [:I]
I've been told that I am proposing paying back just over 25% back - although if I have the chance and means to do so I will obviously pay as much as I can - and then I am never, ever having another credit card again!!!
all you do is let your ip know of your sad news. you will be able to leave your phone on bleep mode/vibrate-ask your ip to text you to call them and then you will be able to call them at a convienient moment to discuss any modifications etc.
you sound like a wonderful person and i dont think the creditors or the ip can ask more than the commitment and determination youre showing x
youre also being very brave having to cope with the stress of a bereavement PLUS dealing with all the other stuff.
hang in there ok we're all here for you and theres always someone here to help in a moment of panic-i know because theyre always here for me [:o)]
just try and remain positive eat well and dont starve yourself !-use some of your money to buy food ok ? [:)]
please have complete faith in your ip. youve come so far and you are strong because although you may not think it youre coping with a lot of horrendous stress very very well [:)]
and because of that something very good has to come out of all of this. so hang in there and dont give up because something good will happen x [:o)]
As FD says explain to your IP that you have a funeral of a relative and that you won't be available immediately to take the call but you will call back or advise them to call after a certain time when you know you'll be available. I hope it goes well for you, don't forget to let us know.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I agree with FD that you should speak to your IP and tell them about the funeral. Family takes priority.
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
Thanks to you all for the advise! I called my IP yesterday and let them know (the funeral has been arranged for the 23rd at 11:30) which is the exact time that I was suppose to call them....
Anyway they were very sympathetic and said that they would live me a message on my voicemail to call them once they have news. I just need to call them back before 5pm!
I have everything crossed now - having lost both my granddad and uncle this year, after losing my father, I think that I need some good news and a new start - please keep your fingers crossed for me!
I have no idea how I am going to get through these next few days....
Why don't you ask for the meeting to be adjourned until the day after the funeral. It will make no difference to the outcome, and will be one thing less for you to worry about on what will already be a pretty stressful day.
I hope you get through these days Lusso - and I am sure things will begin to improve.
Thinking of you and sending a big )))HUG(((.
We're here at any time if you just want some comfort and support.
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
how are you ? you will get through this because youre strong and you will get the outcome you want im sure. please stay strong and let us know youre ok FD X[:o)]
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
Thanks for all your positive messages, I only wish that I had positive news to share! Obviously yesterday was just awful, which was to be expected and to make matters worse, if they could, my other uncle who has been diagnosed with terminal cancer discharged himself from hospital so that he could be with us which was a brave thing to do but just made us all realise how frail he is now!
I called DFD at about 3:30 to be told that (i think) the creditors had come back saying yes but they wanted me to reduce my rent by £200! As this is not really possible I believe my IP has had to adjorn my meeting and I have been told that I will have to wait till Thursday - can anyone out there make head nor tail of this for me?? I am so stressed now that it's affecting everything - work, family and my personal life! I probably wasn't in the best frame of mind yesterday to be digesting information so I have just called DFD again and asked the lady to explain to me again - if we go back and say reducing my rent is not "doable" do I run the risk of them turning round now and saying "No" to the IVA? - she just said she didn't know and that I would have to wait till Thursday! By which time they hope to have an answer.
Any advise would be greatly received at this point!
Declan - if you are there, would you be able to help explain this to me in simple terms?
I am pertrified (and now feel a little desperate) that come January I am not going to have a roof over my head!
