paying without knowing if IVA will be accepted

[miles.r]

My iva company has asked me to start paying £821.00 from June. They have said that my creditors meeting will not be ubtil July at the earliest. Is it normal to have paid them £1642.00 without even knowing if the IVA will be accepted?

[Skippy]

Hi Miles and welcome to the forum. Some companies do ask for money to be paid up front, but please make sure that if your IVA is accepted the money will go into the IVA 'pot', and if it is rejected that you will get your money back. A lot of people on the forum have lost money when their IVAs were rejected. What company are you using?

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Andy2]

I'm not a fan of "up front" payments before an IVA is accepted. Of course an IP incurs costs by virtue of becoming your nominee, formulating the proposal and organising the chairman's meeting. But these are adequately recompensed when the IVA is accepted. In that respect it is in the IP's own interests to only forward an IVA where there is every chance of it being accepted. At least do as Skippy says and ensure the money does in fact go into the IVA pot or else it is refunded if the proposal fails.

[MelanieGiles]

Sometimes, IP's take up front monies to assess a client's commitment to the arrangement and importantly whether they can actually afford the payments they are pledging. There is not issue with this, so long as the monies are refunded to you in the event that the IVA is rejected.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[sharon.t]

Hi there i wouldnt worry about paying anything upfront the company i use in my IVA set up a SO without my knowledge. So i cancelled as every penny counted-this was before the IVA was passed. Then as soon as i knew we had the IVA iset up the SO again which was acceptable.

[miles.r]

Hi, the company is synergi. Since finding this site I am now looking for another company. I am worried because Synergi have all my bills and loan agreements etc. Also as instructed I have made no payments to my creditors for two months and am worried how they will react to further delays. They have also now said the meeting might not be until August.

My iva company has asked me to start paying £821.00 from June. They have said that my creditors meeting will not be ubtil July at the earliest. Is it normal to have paid them £1642.00 without even knowing if the IVA will be accepted?

[scaredkez]

miles do not use this company read my blogs in regards to them, if your iva is rejected you will not have any money returned.
they take for ever to get to a creditors meeting, mine took over 5 months, you get messed about so much and never deal with the same person all the way through, telephone them and request all your paperwork back, coco on here also used them and her iva failed, they appear to set your income and expenditure to an unrealistic amount to please the creditors which will not work for you and you will struggle, take alternative advice but my advcie to you is steer clear of this company.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[miles.r]

Thanks for the information I am going to request for all paperwork back but do not expect to get it.

[sharon.t]

YES OURS WAS SYNERGENCE TOO!!! Dont worry just cancel the So until they have said your IVA is going through. Dont worry they tried the same thing with me. Are you doing your IVA with them too? I just pay the So to them - and the creditors get paid.My IP told me to stop paying any of my creditors as we had entered and were trying to set up an IVa. A good tip for you if you have a landline with BT you can barr certain calls i barred withheld numbers and the calls stopped.

[miles.r]

Yes Sharon they are doing the IVA proposal. I have read so much bad press about them on here. They keep changing the figure we will need to pay each month. Each letter I recieve is from someone new. I can afford the proposed figure of £821.00 but do not want to loose money as some seem to have done with this company.

[freelili]

Mark I agree with Kerri totally, Synergi have caused so many problems to people on this site. Walk well away from them and start again. I realize that this is a bummer for you but it will save you so much stress, trust Kerri and coco.

With regards to the creditors, they really cannot do too much to you yet, they shout scream and threaten all sorts but it takes almost a year to get a ccj and if you are going down the IVA route, you are doing something about your debts and are not a 'wont pay' you are a 'cant pay'. The creditor calls are made by people usually on a commision to stress a payment out of you and will say anything to get it.

My advise is to phone another company today and start the ball rolling while you wait for your paper work. They cannot refuse to send it back. Try a company that posts on this website, someone who will try to propose a realistic IVA in the shortest possible time. The chances are you will be paying your IVA with the new company before you would even get a creditors meeting with Synergi.

Good luck and keep posting.

LILY

I believe that angels breathe and love will live on and never leave. I cherish all you gave me everyday.

[miles.r]

Freelili,
Thanks for the advice any ideas what I should say to make sure I get my paperwork back>

[freelili]

Mark how much money have you paid them? Do not pay them any more.

LILY

I believe that angels breathe and love will live on and never leave. I cherish all you gave me everyday.

[miles.r]

I have not paid them anything they have just asked for me to sign a standing order.

[sharon.t]

hi again
they are treating you quite badly - i use Myvesta and use synergence to pay the creiditors. We dont deal direct with Myvesta but Baker Tilly is our first contact. They are marvellous and monthly payments are reasonable. I hope you can change your Ip Do ASAP. best of luck sharon