paying creditors ?

[flumpy dog]

hi all hope youre well x
am making lil progress in iva arrangements-its a silly question and hope somebody might answer
when you enter an iva is it better not to pay anyone?
i know you have to keep it equal which i cant do and to be honest i cant see token amounts pacifying creditors. i have an outstanding ip helping me but i was just wondering what others did-hope you dont mind me asking
ps although i have lil smiley i have had rotten week-lots of horrible calls -boo !

[Viki.W]

Hey FD, sorry you're having a rubbish time. Creditor calls will wear you down, but if it gets to you too much, don't answer the phone.

I would take the advice of your IP on token payments.

Personally I didn't pay anything, but my case was a little different and I didn't have any disposable income to offer. Whatever you decide, it won't make a difference.

Have a good weekend and unplug the phone.[;)] X

[Skippy]

As Viki says you need to take advice from your IP about this. Some people are told to make pro rata token payments while others are told not to pay anything.

[flumpy dog]

thanx vik hun x
as mentioned i have an outstanding ip and they have and are giving me first class advice and support. i was just interested in how others have handled stuff x

[flumpy dog]

thanx skip x

[plasticdaft]

I didnt pay anyone diddly squat. But others do make payments.

[flumpy dog]

i just cant see a token amount getting them to lay off because they will still call/write because they want the full amount [V]

[Abby]

hi fd, we stopped paying our creditors whilst the iva was put in place, but kept them informed on what we were planning to do,it is probably best to take advice from your ip. take care .xx

[kallis3]

Once I had started down the IVA route I stopped paying mine. It allowed me to build up enough money to make my first payment.

The creditors will continue to hassle you regardless of whether or not you pay them right up until the date you are approved, and sometimes for a short time afterwards.

[MelanieGiles]

Hi there

Your IP will have no problem if you just stop paying the creditors, if you find it easier to manage - and at least this enables you to set a little aside for the start of your IVA.

In reality it makes little difference whether you make token payments or not to the overall outcome of your creditors meeting - just do what you feel is best.

[go_4_broke]

Would agree with Melanie

Making some token/small payments can be effective in some measure.

Changing your phone number is equally effective and potentially cheaper.

As mentioned previously, neither will have any appreciable effect on the success or otherwise of the IVA.

Best Regards

[flumpy dog]

thanx a lot everyone. hi melanie thanx for your good advice and wise words as usual ! [:)]