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IVA Process Started

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Topic URL: http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=24617
Printed on: 22 August 2014

Topic:


Topic author: Pennyless
Subject: IVA Process Started
Posted on: 08 September 2009 23:48:37
Message:

I thought I would start this thread in order to both track my IVA process and give others an idea of time scales and the rollercoaster ride of up's and down's that I feel I have embarked on to hopefully one day becoming debt free.

At the moment all my payments to creditors (7 credit cards/3 loans) are up to-date, however, this has only been possible by a rather large overdraft and a robbing Peter to give to Paul attitude......which stops as of NOW! Main reason I carried on paying my creditors was for fear of their reprisals, intimidation and harrassment that some speak of.....but eventually something has to give and unfortunately it's my lack of further available credit, so here we are.

Well thankfully on Mon 7 Sep 09 I was informed that Melanie Giles was willing to represent me in obtaining an IVA (current debts loan/credit cards in my name circa 117k), however, my Wife (not eligible for IVA), who has currently 15k of debt (Barclays) and pays 292.00 will have to make her own arrangements with Barclays and this will have to be paid out of her disposable income (DI).

After telephoning Melanies Team early last week I have obtained a Co-op current bank account (opted for the account just above "Cashminder" due to a cheque-book facility and although it does have the possibility of an "overdraft" facility I am quite confident that I will never apply for it....edit: or be allowed it.

Have spent today sending off my Authority To Act to Melanie, arranging a valuation of my property and 6/7 hours obtaining the requisite documentation regarding wage slips/statements et al. I also applied today to the Northern Rock for my Repayment Mortgage (currently 15yr fixed) to be changed to an Interest Only Mortgage and also applied to my loan companies for up to-date statements.....now just need to find a photo-copier to copy the myriad of documentation, hopefully at less than the 20p a page the local library charges.

Hoping that my application for transfer to "Interest Only" will be successful and Northern Rock will allow me the full 12 months on this...and also possibly another 4 years on top, but small steps first eh.

Anyway onward and upward.

PS: If anyone thinks this is not the correct forum for such a thread then please let me know....just want to keep a diary and hopefully help others along the way.

Replies:


Reply author: MelanieGiles
Replied on: 09 September 2009 00:16:05
Message:

Great news - and time well spent today will help us tremendously in the long run.


Reply author: MRBLUESKY
Replied on: 09 September 2009 00:43:18
Message:

pennyless your post will help others and credit to you for sharing your circumstances with the forum,especially at the start of your journey hopefully to be debt free in the future.you are in very good hands with melanies team so good luck to the future and hopefully a happy xmas i,m sure.regards ronald.


Reply author: lesley_
Replied on: 09 September 2009 06:02:15
Message:

Hi Pennyless and welcome to the forum, you're in safe hands with Melanie and her team and I wish you well on your IVA journey, please keep posting as it does help other posters. You might want to start a blog as I know this has helped me to list everything and hopefully give support to others.


Reply author: Pennyless
Replied on: 09 September 2009 08:38:11
Message:

Melanie thanks for your reply.....look forward to speaking to you in the near future and I will do everything to ensure you have everything you need to support my IVA application.

Ronald/Lesley thanks for your support. Lesley not sure how to start a blog but will look into it.

Up till last week I have totally kept my problems a secret and you can't imagine how much better I feel now I have found the support of Melanie and individuals from this forum. It's also heartening to see that I am not alone and others are also sharing the "National debt". A few months ago I would of never seen myself or should I say admit to myself that I am in so much debt but theres only so much a person can take and my entire family have in someway suffered through this so I intend to do my damned hardest to turn my life around and hopefully give my family a future to look forward to.

Fingers crossed.


Reply author: Pennyless
Replied on: 10 September 2009 00:07:53
Message:

Received "Welcome Pack" from Melanies Team today (wed), included in which was a "Business Recovery Professionals" document, duly signed it (along with another Authority To Act form...more the better eh) and returned it but forgot to enclose a copy of my photograph so that will go out today (thu).

Spent more time today collating the required documentation for the IVA and hoping that by the middle of next week I shall have everything (including my "10 Easy Steps of How to get Into Debt essay"), bundled up and off to Melanie!


Reply author: MelanieGiles
Replied on: 10 September 2009 00:12:33
Message:

I will look out for it in the post!


Reply author: Pennyless
Replied on: 10 September 2009 00:17:28
Message:

Thanx Melanie.....look forward to chatting with you sometime.....only delay at the moment is in receiving a "yes/no" from NR on my change of mortgage and a letter of valuation for my house (to be done in the next couple of days) so hopefully will get replies from both by wed next week.

By the way spoke to my energy supplier today to have my price plan reviewed with a view to getting them to reduce my monthly payment but got told that it wouldn't be possible to do a review until Oct (next bill). A relative has said they will assist in the extra payment if neccessary so hopefully wont effect my figures dramatically.


Reply author: MelanieGiles
Replied on: 10 September 2009 01:11:15
Message:

No problem - but better to discuss case specifics off line.


Reply author: chris2202
Replied on: 10 September 2009 01:38:01
Message:

Fingers crossed for you Pennyless. You sound pretty switch on to me, but then you must be to have homed in on Melanie's expertese.


Reply author: Pennyless
Replied on: 11 September 2009 09:01:57
Message:

FAO Melanie:

Melanie should i do a block dispatch to all my creditors NOW (currently all up to-date) informing them that I am seeking an IVA and directing them to your good self as acting on my behalf, or should I wait till my next bills come in and send them on reciept of each bill?

Also should these letters be recorded delivery to each Company?

The reason I ask is that I still have about 3 weeks before my Barclaycard bill arrives (wont be due payment until 16 Oct) and Barclayloan taken from my account and if I inform them now of my intention regarding the IVA they may freeze my account (also with Barclays) on receipt.

TIA

Pennyless


Reply author: MelanieGiles
Replied on: 11 September 2009 09:52:09
Message:

That would be a good idea, and presumably we have sent you a sample standard letter to use. I don't think you need to go to the expense of recorded delivery.

Hope you have got new banking facilities in hand as well - and until you do so it may be wise to delay the dispatch of that letter to Barclays.


Reply author: Pennyless
Replied on: 11 September 2009 10:43:34
Message:

Thanks for reply Melanie...yes received a copy of the letter from Tina so will copy each of the letters then send them out en mass on monday. Although I do have an account opened with the Co-Op I will ensure I will be getting my wages payed in this month first.


Reply author: Pennyless
Replied on: 11 September 2009 22:30:04
Message:

Quick up-date.

Managed to photocopy all of my documentation last night at no expense....told my boss I needed to copy some private info and he said "fill ya boots"....half a pack of A4 paper later the job was done. Angela at Melanie Giles will have some "light reading" for Monday morning:-)

By the way my current creditors are:

1. Barclayloan
2. Barclaycard
3. Virgin Money
4. AA credit Services
5. Capital One
6. Halifax
7. RBS
8. Egg
9. And last but not least Northern Rock

Over the coming days, weeks and months I will try and keep the board updated on how each of my creditors either assists or not as the case may be, with my case.


Reply author: MelanieGiles
Replied on: 11 September 2009 22:54:36
Message:

It sounds as if we will be getting a very complete pack over, so that hopefully means we can speed up the processing of your case. Will look out for it on Monday.


Reply author: Pennyless
Replied on: 11 September 2009 23:14:50
Message:

Thanks Melanie.

I realise Angela will be new to my case on Monday and have attempted to give her a full and clear explanation of my case to-date and will furnish you with all the details you require.

Have a couple of questions still but will fire them at Angela....or Tina (lol) on Monday.


Reply author: MelanieGiles
Replied on: 12 September 2009 00:16:52
Message:

If I can answer them for you over the weekend, e-mail them to me. It is no bother.


Reply author: Pennyless
Replied on: 12 September 2009 09:36:17
Message:

Thanks for the offer Melanie, may do but dont want Tina to feel I have forgotten about her lol.


Reply author: MelanieGiles
Replied on: 12 September 2009 12:15:07
Message:

She does get very jealous!!!!


Reply author: Pennyless
Replied on: 12 September 2009 13:59:36
Message:

Mel lol.

Well received my written valuation on my house from a local estate agent today and have forwarded to Angela. Will be obtaining a second market valuation next week and still await a decision from NR whether or not they will allow me to change to Interest Only on my mortgage.

Heres hoping.

Still not completed my "Easy Step Guide On How To Realise the National Debt" but I expect to have all documentation by wednesday so know it must be done this weekend for inclusion......just fills me with fear everytime I look at it!


Reply author: Pennyless
Replied on: 14 September 2009 09:54:08
Message:

Well should be obtaining a further valuation on the house today.

All creditors are now fully paid for Aug debts so all equal and therefore have today cancelled all Direct Debits. Now just have to wait for the telephone calls...doh.


Reply author: lesley_
Replied on: 14 September 2009 10:00:19
Message:

Good luck Pennyless for the journey ahead, I hope it's a smooth one and I can confirm personally you're in safe hands


Reply author: Pennyless
Replied on: 14 September 2009 10:22:18
Message:

Thanks Lesley.

Just been informed by the Co-Op bank that I registered with that they also do a bi-annual dividend for using their bank and also stores. Costs 1 for lifetime membership and the 1 gets taken from your first divi so costs nothing!

Every little helps as they say and I have yet to take in that I can ring a bank and actually speak to someone in the UK!


Reply author: pog1234
Replied on: 14 September 2009 10:38:01
Message:

Good luck pennyless....you seem to be at a similar stage to us. We signed our proposal on Friday so are now awaiting the date of the creditors meeting.
Very happy with our transition to Co-op banking however just spent over an hour tesco shopping online...in the hope this would help with budgeting but it would not accepty my Co-op cashminder account card! How very annoying I guess it comes up on the online system as an electron. I have never had a problem to date using it elsewhere.


Reply author: lesley_
Replied on: 14 September 2009 10:45:34
Message:

Good luck to you too pog, that is annoying re the card not being accepted after spending over an hour shopping online!

Not sure if any others with the Coop account have the same problem.

Pennyless I too am always amazed at the improved customer care I get since I changed bank accounts.


Reply author: Pennyless
Replied on: 14 September 2009 10:48:44
Message:

Not far behind you Pog. Still to have my proposal compiled. Did it take long from first contact to proposal....then again I suppose it depends on how long it takes to aquire all the relevant info for the IP?

I managed to get a Co-Op current account (one up from cashminder) as I wanted use of a cheque book and in addition I received a Visa Debit Card, which I think are more widely accepted than the Electron. Also registered for Internet banking today.

Can you tell me which Company your with for your IVA?


Reply author: Skippy
Replied on: 14 September 2009 11:01:02
Message:

Tesco online definitely doesn't accept Electron. Apparently they have told people for the last couple of years that their technical department is looking into it, but nothing yet.

They also said the reasoning behind not accepting Electron is because it's offered to under 18s and therefore they may be able to order alcohol online. I find that strange as Sainsburys will accept it online...


Reply author: lesley_
Replied on: 14 September 2009 11:30:24
Message:

I guess that's an interesting point Skippy re the alcohol


Reply author: Skippy
Replied on: 14 September 2009 11:45:24
Message:

I don't know if it's true or not, but what's to stop the little darlings getting mum or dad's credit card and ordering in their name anyway?

And since when have Tesco had a social conscience?!?!?!


Reply author: pog1234
Replied on: 14 September 2009 11:53:15
Message:

Pennyless, we first approached Andy Davie back at the begining of July and he gathered papers and forwarded onto IVA ADVICE BUREAU. Susan Clay is our I/P so has taken about 8 weeks to get to this stage.
Proposal signed and returned on friday which on their receipt will be circulated to creditors. The creditors meeting will be set for a date no less than 16 days after circulation and we should hear the date for this soon.
We have 83,000 of unsecured debt and are offering 430 per month.This is a low return but am hoping the creditors will accept as they will receive nothing in banckrupcy as we are in negative equity with no assets.
I am expecting them to qibble with some of our expenses on the I&E, two of our children attend an out of catchment school and the cost for public transport exceeds the max entitlement. We have also asked 34 to cover our Denplan which also exceeds the guidelines.
We have already started to live within our means and are both relly enjoying seeing our bank account in credit for the first time in years!


Reply author: Pennyless
Replied on: 14 September 2009 12:16:53
Message:

Thanks for the info pog. Have you had much hassle from creditors....this will be the first month we have missed payments so not sure when the wrath of Barclays, NR and the credit cards will start.


Reply author: pog1234
Replied on: 14 September 2009 12:22:33
Message:

we managed to pay all debts in July prior to contacing Andy, so we have now missed AUG and SEPT. I changed the home number so thats peaceful and also avoids friends and family being subjected to calls from creditors! Lots of call on mobile mainly from EGG, CAHOOT and RBS. Barclays have been great, no calls to date just letters reminding me of my debt to them!


Reply author: Max
Replied on: 14 September 2009 12:25:19
Message:

Pennyless - I don't know if this is any help to you but Melanie Giles was my husband's IP - (same firm as Susan) - my husband's IVA was difficult for a number of reasons - 7/8 firms told him "no chance" - Melanie got it all through on first attempt including educational costs. As for creditors they were a pain - one called 29 times in one day! However, we were lucky - we have a macaw and he sreached down the phone - they never bothered after that experience for his screach is far louder than any whistle. J


Reply author: Pennyless
Replied on: 14 September 2009 12:27:10
Message:

I suppose the calls are a nature of the beast and as long as they are civil and not threatening I wont have a problem with them, after all they have to try and get their money back......but will have the little tape recorder switched on incase they decide to try a bit of hard persuasion or threaten to cut the heads off my dandelions:-)


Reply author: lesley_
Replied on: 14 September 2009 12:30:07
Message:

I felt the same Pennyless, I owed them the money and I talk to them, mind I did talk at them as I had a script and wouldn't go off script so they had no choice but to listen, my script included everything they needed to know re my pending IVA and who my IP was etc., I think they were fed up with me by the end of th conversation let alone vice versa.


Reply author: Pennyless
Replied on: 14 September 2009 12:31:04
Message:

lol elv...he certainly looks a bonnie bird....may need to borrow him for a couple of months.....but then again the creditors can listen to "My Old Mans a Dustbin" for the first 5 mins of the call!


Reply author: Max
Replied on: 14 September 2009 12:31:11
Message:

Mercers were rude, threatening and damnright disgusting - swear words the lot - but Melanie, I believe, made a formal complaint and we obtained a written apology from Barclays. J


Reply author: Max
Replied on: 14 September 2009 12:34:27
Message:

Max, the macaw is a better guard dog than a German Shepherd - he could take a finger off a grown man in two seconds and will attack anyone who comes near me. His beak is as sharp as a cut throat razor. When Mercers threatened to call we told them to make certain they brought a casualty doctor with them for Max would be out of his cage! They never called. J


Reply author: Pennyless
Replied on: 14 September 2009 12:38:30
Message:

Its a shame Mercers could not improve on their Customer Service.....they may actually find that their customers are more responsive.


Reply author: Max
Replied on: 14 September 2009 12:44:00
Message:

You are right there! I believe from what I have read that they are changing slightly- the staff are paid by what they can recover that is one of the problems. I hope all goes well for you and your proposals. J


Reply author: Pennyless
Replied on: 14 September 2009 12:48:54
Message:

Well a bit of good news today, N Rock have agreed to put me on an Interest Only mortgage as of 1 Oct 09 (temporary for 12 months), so another step closer.


Reply author: Max
Replied on: 14 September 2009 12:55:59
Message:

Good! J


Reply author: Pennyless
Replied on: 14 September 2009 13:28:07
Message:

Its a start at least elv.


Reply author: mikepapa
Replied on: 14 September 2009 18:25:18
Message:

Good news on your mortgage Pennyless, as for timescales & creditor hassles, we first approached Melanie at the end of May, its taken a little longer than I thought but its best not to rush things that way you get all information correct. We were waiting for a Barclay loan settlement figure for a while I recall.
We sent letters to all our creditors telling them what we were proposing, only one replied (MBNA) the others didnt even agknowledge receipt. Barclays even called me on my mobile telling me they havnt got my letter even though that was the only way they could have got my number lol. (it was on the letter)
Hassle from creditors hasnt been to bad if I am honest,(apart from Mercers) at first we had a few calls, the longer its gone on the calls have got less which seems strange,but I make a point of talking to all creditors & telling them of our predicament, theres not much they can say after you have told them why you are trying to propose an IVA, & our alternative is BR.
BTW, we stopped paying all un-secured creditors from the start, that was our choice, some asked for token payments , but we told them that they werent the only creditor & couldnt treat them more favourably than another creditor & they accepted this.
Our meeting is on Thursday 24th September & I am hoping that will be the start to a debt free life.
Good luck with your proposal Pennyless & keep in touch.


Reply author: Pennyless
Replied on: 14 September 2009 18:36:11
Message:

Thanks Mike...I'm trying to get everything together for Angela as quick as possible. This morning I woke up at 3am and lay awake worrying about this and that...infact truth be told I wake early every morning and although I do feel a lot less stressed to have the support of Melanie and her team, I cannot help but worry.

Still find it hard to believe i could of let myself and my family down so much but I have to concentrate on making things right.

Good luck again for the 24th Mike.


Reply author: mikepapa
Replied on: 14 September 2009 19:23:24
Message:

It is hard not to worry,, I am up at 6am every morning, leave for work at 7.15am. I lie awake trying to find a defining moment when it all started to go wrong (money wise) not found it yet. but I do feel such a fool to have squandered our chance to be set up financially at our age. I get upset if I look back at what we had & how debt has ruined things for us.
But we are strong & will hopefully start to put an end to it soon, only my wife & I know our situation,, I dont think its fair to burden our 25 & 23 year old son/Daughter who are doing very well without the help of credit, they seem a lot wiser than me now,, although I remember when I was in my 20's & didnt use credit at all, I think it started in our 30's it was just so easy.
Anyway enough of my moaning,, LOL,,, BTW. took me nearly 12 months to sort out my mess, looked around for IP's ,, looked at reviews etc,, & Melanie & her team came highly reccomemded so I think we are both in good hands with our IVA proposals.
good luck with yours to.


Reply author: Skippy
Replied on: 14 September 2009 19:53:07
Message:

I think we've all laid awake trying to work out where it went wrong, so you're not alone on that one Mikepapa!

The important thing is that you've taken steps to deal with the problem rather than burying your head in the sand and hoping it'll all go away.

You're in safe hands with Melanie, and I'm sure you'll be posting good news on 24th x


Reply author: MRBLUESKY
Replied on: 14 September 2009 20:05:01
Message:

i,ll second that,on the face of it my kids seem to be doing better than i was,but i brought them up so must have done something right,i had many sleepless nights with worry,but managed to take my head out of the sand and got help,you are with a great team with mel so will be ok from now on all downhill.you will all get there and be stronger and wiser for it i,m sure.


Reply author: rainbowofhope
Replied on: 14 September 2009 21:05:31
Message:

Hi Pennyless! Like you we've just started the IVA process - sent our mountain of paperwork off to Vincent Bond today, and are awaiting our letter of confirmation this week from the Co-Op that our Cashminder account is open. Starting to feel like a weight has been lifted already, we too have 7 credit cards and 2 loans between us, and thanks to a large overdraft have been in exactly the same situation as you - robbing Peter to pay Paul! We just can't carry on like this and need to be debt-free. It's so good to hear someone else is in the same boat as us - hopefully we'll all be sorted in a few weeks!


Reply author: Pennyless
Replied on: 14 September 2009 22:16:16
Message:

Hi rainbowofhope I never honestly realised how much I have in common with others until I came across these forums, then I realised that I wasn't the only one who had loads of debt and that there were so many people out there that could help.

As you say hopefully we'll be sorted in a few weeks and maybe whilst on the journey to becoming debt free in 5/6 years we can assist everyone else who is lucky enough to find these forums.

Fingers crossed!


Reply author: lesley_
Replied on: 14 September 2009 22:42:49
Message:

I always felt I was the only person in the world in debt when I first realised I had a problem. I looked into IVA's came across this forum and the rest as they say is history. I'm 21 months in and finely rehabilitating myself for my debt free future.


Reply author: Pennyless
Replied on: 14 September 2009 22:46:03
Message:

Lesley I hope to be saying the same in 22 months:-)


Reply author: Pennyless
Replied on: 15 September 2009 15:16:09
Message:

Well today has been spent having a further house valuation done and cancelling/changing the myriad of Direct Debits from my old account to my new Co-Op account.

At the same time I managed to reduce the payments on mine and the wifes redundancy covers which were dependant on the amount of our monthly mortgage payment....another saving to go in the creditors pocket.


Reply author: Debtwitch
Replied on: 15 September 2009 16:03:59
Message:

There's alot to do in preparation but I hope that your efforts will be appropriately rewarded.


Reply author: Pennyless
Replied on: 15 September 2009 16:34:05
Message:

Thanks Angela......sincerely hope so. Have forwarded everything onto Melanie Giles team and been told today that they may get to look at my case this week. Fingers crossed.


Reply author: Debtwitch
Replied on: 15 September 2009 16:45:42
Message:

Hopefully you're taking comfort in the fact that you are now dealing with everything and that the firm you've approached regularly gets praised on here.

Don't concern yourself too much with phone calls either. Just keep your polite tone when informing the creditors of the IVA and who you're being assisted by and I expect you'll be left in peace.


Reply author: Pennyless
Replied on: 15 September 2009 16:56:13
Message:

Yes Angela I agree and will ensure that I am polite when they start ringing, after all I cant blame them for chasing after their cash, I just hope they dont get too heavy handed or ring several times each day......otherwise I'll have to get hold of elv's Macaw!


Reply author: Max
Replied on: 15 September 2009 17:06:59
Message:

Pennyless - you may like to know that my husband's major creditor co-operated all the way along the road because, to quote their words exactly, "your husband has an honourable IP". They were talking of Melanie. Mentioning her name to callers is a good idea. J


Reply author: Pennyless
Replied on: 15 September 2009 22:54:12
Message:

Thanks elv. I have full confidence in Melanies team.

Say hello to Max from me:-)


Reply author: Pennyless
Replied on: 16 September 2009 13:13:54
Message:

Well finally forwarded my Backgound to obtaining my share of the National Debt to Angela today....not much required now but the postal strike is'nt helping with a couple of documents I'm waiting for. Ah well onward and upward.


Reply author: ndorka
Replied on: 16 September 2009 20:36:01
Message:

Hi Pennyless. Do you mind to tell me what did you write to NR regarding your repayments going to interest only??


Reply author: rainbowofhope
Replied on: 16 September 2009 21:21:33
Message:

Hi Pennyless. Pleased to see you're getting sorted. We've had our confirmation today that our Co-Op account is open, so I've got to start cancelling/transferring Direct Debits as well. Still waiting for a few outstanding docs to send to VB, am having the house valued on Monday (21 Sept) so hopefully all paperwork will be with them by the end of next week. Each day feels like a step towards freedom!!
Keep smiling!


Reply author: Pennyless
Replied on: 16 September 2009 21:32:49
Message:

Hi ndorka.

I initially rang them up and explained what I wanted to do. I then received a "Transfer Of Loan To Interest Only Repayment Method".

I completed the form as per the questions listing all my debts and monthly payments (in fact for credit cards there was insufficient space so I wrote the "total figure" and "total cost per month" in one single box.

I then explained in the "information" section that I was seeking an IVA and had appointed an IP and that the move to interest only would afford me more money for my creditors. In addition I requested the maximum 12 months transfer to Interest only.

Hope this helps. Just remember Northern Rock will eventually be informed about all your outstanding debts and the IVA process, therefore it's best to tell them everything at this stage to keep everything on the level.

Good luck.


Reply author: Pennyless
Replied on: 16 September 2009 21:38:38
Message:

Rainbowofhope dont let the valuer put an unrealistic high price on the house. Everyone likes to hear their property is worth more than the rest but in this case more is not better.

Also dont tell them the valuation is for an IVA, one of my valuers done a full look over, give me a price then went back to his office, where he then rang me and said that Head Office had said that if I require such a valuation then it must be done by a Surveyer at a cost of 700!

I simply rang another estate agent and told them I may be inheriting a property and needed a price to get rid of the house in the next 4 - 6 weeks. Job done and a "realistic" valuation obtained.

Agreed each day is a step closer!


Reply author: Cath
Replied on: 16 September 2009 21:43:45
Message:

Maybe I should say my place is an inheritance I want to sell, it looks like a bomb site most of the time due to 3 young ones or maybe I should leave it as it is, in it's usual state, full of rubbish and clutter, in need of decoration and unsaleable! I was going to go head over heels cleaning, chucking out etc, but maybe now I shouldn't and carry on 'living' in it.


Reply author: Max
Replied on: 16 September 2009 21:45:22
Message:

We were advised to ask for a forced sale valuation or a speculative valuation - hope this helps. J


Reply author: ndorka
Replied on: 16 September 2009 21:46:52
Message:

Hi
Thank you for the quick replay. My morgage is with Barclays (woolwich) and some of my debts are with them as well (20000).
I'm wondering if this is going to help me with the approval of IVA?
Your first post was very helpful. I'm dealing with Debt AdvisoryLine now. I have just find out that they don' have their IPs. I have sent them all documents on the 15th August, made to payments and still don't know wht is going on. We have recently changed our phone numbers before applying for IVA so no threatening calls at least. The letters are coming but all of the creditors received the information about the IVA. I'm also wondering what's going to happen with my Santnder (Abbey) account. We set it up 2 months ago for the IVA. However Wallis, Argos, and RYanair (GE Money before) belong to Santander now.
Hopefully I will be able to have my case sorted quickly as I never missed any payments before. Now it's been 2 months of not paying even a penny!!
Thank you


Reply author: kallis3
Replied on: 16 September 2009 21:49:58
Message:

Our valuation was arranged by Payplan who sent a valuer round so we didn't have to do it ourselves. The same will happen in the 4th year when we need to remortgage.


Reply author: MelanieGiles
Replied on: 16 September 2009 21:50:23
Message:

Do you mean that the Debt Advisory Line does not have IPs they can refer you to? You do really need to find out what is happening with your case. Most IPs would have an IVA through a creditors meeting in the two month timeslot you are referring to.


Reply author: ndorka
Replied on: 16 September 2009 22:08:49
Message:

Hi Melanie! I think they don't have the IP's otherwise the case would be sorted already. Everyone is on holidays there all the time and my case is being passed to different people. I don't want to wait any more but also don't want to lose those 500 I paid them. They didn't ask me also to do the valuation?! Don't know what to do really!!! Confused....


Reply author: Pennyless
Replied on: 16 September 2009 22:14:38
Message:

Cath you do right. I was supposed to have a valuation today but the valuer came a day early and really caught us on the hop....but no matter....valuation done and really you don't want the place looking like a palace for this valuation I would say.

Elv I was told same but found when I said "forced sale" to one of the valuers ears pricked up and alarm bells started to ring into the conversation. I therefore didn't say forced sale to my second valuer.


Reply author: Max
Replied on: 16 September 2009 22:16:52
Message:

We said "speculative sale" and that is the phrase the Estate Agent used in the letter. J


Reply author: Pennyless
Replied on: 16 September 2009 22:21:30
Message:

Ndorka I was fortunate to find this site before i appointed or should I say "requested" Melanie to kindly become my IP and assume responsibility for my case, therefore had a decent idea of who prospective IVA clients felt most comfortable with.

I spoke to 2/3 other Companies who both said "Stop all payments to creditors and send us a particular amount instead which will eventually become your IVA payment".

When I contacted Tina at Melanie Giles she advised me to stop making payments if I could not afford to make them and also explained that she did not require any monthly monies from myself until the IVA stage itself.

I hope you get it sorted.


Reply author: MelanieGiles
Replied on: 17 September 2009 00:10:21
Message:

Really important that you get the right person to represent you. An IVA is not just about getting through the creditors meeting, but also living through five years at a relatively disciplined budget - where you will need the support of your IP to continue.

What was the 500 you have already paid them for?


Reply author: Debtwitch
Replied on: 17 September 2009 05:19:43
Message:

Hi ndorka

I'm so sorry that you didn't see this site before paying 500, but it you feel you are no further on, I would certainly be kicking up a fuss. It may be in your interest to cut your losses and approach an IP through a company who is recommended - you don't have to look too far.

Kind regards,


Reply author: size5
Replied on: 17 September 2009 08:29:32
Message:

There is another thread re this running, this does highlight the dangers of approaching packagers, although in fairness it is difficult for the man in the street to tell whether he is dealing with an IP firm or a packager, generally the relief at getting help is the over-riding initial emotion.

For those thinking of looking at an IVA it pays to shop around and it pays to ask the question "Are you an IP firm and what happens to any upfront fees in the event of non acceptance?"

Regards.


Reply author: Pennyless
Replied on: 17 September 2009 08:51:52
Message:

Size 5 very much agree. The initial relief at knowing there could be an answer or someone that can sort your life out is by far the overiding factor in an individuals choice....it's not until later that some may realise that they possibly could of made a better choice elsewhere.

I recall when we spoke you advised me to speak to at least 2/3 other Companies and directed me to this web-site (although I had already found it)....if only all IP's or those purporting to be such would offer the same advice.

Regards


Reply author: kallis3
Replied on: 17 September 2009 09:45:35
Message:

It is always best to speak to several companies - I wish I had found this site first. To be fair, I have no problems with Payplan, but when we initially wanted to do an IVA we were told we couldn't by another firm and we accepted that.

Had I have found this site then, we would have been three years in instead of almost 18 months!


Reply author: Pennyless
Replied on: 17 September 2009 09:51:33
Message:

Well just received my first call from a creditor...EGG. It's paid up to-date until Oct, but cancelled the Direct Debit and therefore it must of started the alarm bells ringing.

The caller was very pleasant and polite and after taking all the details of my IP, stated that she would remove my number from their "automated dialling system" and await further advice from myself. I explained that I had forwarded my intention to seek an IVA onto them but would keep the Company informed.


Reply author: ndorka
Replied on: 17 September 2009 09:59:54
Message:

Hi Melanie. My first payment was 280 including Iva 211 and the rest was their fees. The next one was 211 just to cover the iva if its approved.


Reply author: MelanieGiles
Replied on: 17 September 2009 11:23:36
Message:

So if you decide not to ahead with the IVA then at least 422 can be refunded back to you assuming you have also paid the second 211?


Reply author: ndorka
Replied on: 17 September 2009 11:39:51
Message:

I hope so Melanie. My 3rd payment is due in few days. ShalI wait until they will get back to me and change the company now?


Reply author: Debtwitch
Replied on: 17 September 2009 15:26:06
Message:

I'd give them a call ndorka to ask what stage they're up to and what the process is in the event you want a refund.

Ask them to email you a draft of what they've done so far.


Reply author: kallis3
Replied on: 17 September 2009 15:29:11
Message:

Quite agree.

Changing the subject slightly, will you be coming along to FF in November Angela? It would be good to meet you.


Reply author: MelanieGiles
Replied on: 17 September 2009 19:59:02
Message:

I definately would not pay them any more money until you have decided whether to stay with this firm or not. And I am really not clear what you are paying for in any case!


Reply author: Debtwitch
Replied on: 17 September 2009 20:26:08
Message:

I have the FF date in my diary Jan - I'm hoping I can make necessary arrangements.


Reply author: size5
Replied on: 18 September 2009 01:24:23
Message:

Are you throwing your weight, given this thread, behind the "no packagers" debate Mel?

I hope so. There is no place for them, in my opinion. A 60 month IVA has no need to be a 62 or 63 month IVA simply to "have a look at the paperwork and assess the situation before we pass you to an IP"

The packagers keep 2 or 3 months payments for doing, er, nothing. They have no place in this industry and, in my opinion, should be banned.

Incidentally, I also think that IP's who accept cases where packagers are involved should cover all costs, regardless of outcome. That may help to concentrate the mind somewhat.

Regards.


Reply author: MelanieGiles
Replied on: 18 September 2009 01:52:28
Message:

Interested to read your comments, and am not sure what is meant here by "packagers", but I have no problem with working with specialist debt management companies - so long as they do the job they tell their clients they are going to, and everything is transparent. If they are going to provide me with a full set of documents, then there is merit in them charging for their services. But they should advise their clients that they could approach an IP directly - and I do trust this is happening in practice.

I work with a mixture of referrers, and handle my own generated work as well - similarly to ClearDebt - and am happy with clients that come to me directly and clients that are referred to me by specialist debt management companies, accountants and solicitors. The main thing is that the client gets good service and understands the nature of the commitment they are making.

What point are you actually making in your final paragraph?


Reply author: size5
Replied on: 18 September 2009 08:51:49
Message:

I have no truck for packagers, but I concede the point re genuine DMP cases that are now IVA-able, there are obviously many reasons why this may be so.

Business is business of course and re reading the last paragraph it does come across a little harshly, so apologies for that, but I won't change it now as that would be churlish.

I still have no time though for firms that take 2 or 3 payments up front and are then happy to take a fee from an IP (that much is perfectly legitimate of course) for referring across cases where very little work has been done, save for filing a few documents. I would also point out, for reasons of clarity, that I am aware that you take no fees from clients who are unsuccessful in their pursuit of an IVA, my point was more aimed at those that do, and there are many of them. The poor client has therefore potentially been charged twice for a service that he or she cannot have. I do take great exception to that.

Regards.


Reply author: MelanieGiles
Replied on: 18 September 2009 09:43:23
Message:

I completely agree with you regarding fees for doing nothing and non return of monies if the case is not-successful. Thankfully this rarely happens in my practice.


Reply author: Michael Peoples
Replied on: 18 September 2009 10:23:02
Message:

Many packagers do an excellent job and deserve their fee. If it was not for them the debtors would in most cases have never heard of an IVA or an IP and would be in unsuitable DMPs. As in any profession there are rogues and the system needs regulated but a ban on packagers would restrict choice and in my opinion would be bad for the debtor.

Although we generate most of our cases ourselves we do use packagers. We meet with them regularly to advise on changing creditor criteria and discuss each case with them before taking it on as an IVA. In the rare cases that are rejected the packager will refund the fee, help with bankruptcy or set up a DMP. We as a firm take no money from clients and all the costs are borne by McCambridge,Duffy in the event of a rejected IVA. This applies to packagers, referrals or self generated cases.


Reply author: size5
Replied on: 18 September 2009 10:53:58
Message:

That's fair enough Michael, and I would stress again that my point was not aimed at present company, but I do have a bee in my bonnet re his issue where clients pay out money that would be better used to get back on their feet.

Where fees are justified then there is no argument, but there are threads currently live where we are all querying the level of service provided when an IP could have been approached directly at no cost. I believe ndorka is one for example, though I stand to be corrected.

I guess this subject gets me a little grouchy, I must be getting old ala Victor Meldrew.

Regards.


Reply author: Michael Peoples
Replied on: 18 September 2009 11:03:00
Message:

I agree that there are huge variations in the services offered by packagers but in most cases without the packagers the clients would never get anywhere near an IP. Perhaps if IP firms refused to deal with those packagers who are exploiting their clients the services would improve as without IPs the packagers have nowhere to go to place their clients.


Reply author: size5
Replied on: 18 September 2009 11:07:39
Message:

Fair point.

Regards.


Reply author: Pennyless
Replied on: 21 September 2009 12:25:26
Message:

Just received correspondance from MBNA on behalf of my Virgin Credit Card stating they were aware of my seeking an IVA and wished to speak to me.

I telephoned the MBNA Insolvency Team and have to admit they were much more understanding and sympathetic to my situation then I expected would be the case. They also advised that in my current situation they would be more inclined to "support" my IVA application then to look at a DMP or other plan that they may be able to offer.

They also advised that it may be best for me to speak to ALL my creditors, explain the situation and see how they felt in regards to an IVA proposal, as although not cast in stone, it would give me a general idea on how the creditors would be voting.

All in all a very good conversation and all they expected is that I keep them up to speed with how my proposal is processing.


Reply author: kallis3
Replied on: 21 September 2009 12:29:35
Message:

Bear in mind that the majority of the time you will be speaking to a call centre, and they have no influence at all over voting.


Reply author: Pennyless
Replied on: 21 September 2009 12:33:42
Message:

Kallis on this occasion it was the specific Insolvency Team of which there are only 3 members. They have another Company that does their voting (by proxy) but ultimately they will give the "yes" or "no", therefore didn't see any point in burning bridges at this stage.


Reply author: kallis3
Replied on: 21 September 2009 12:37:58
Message:

I just pointed out that it is the majority of the time, not every time.

I know that some firms have specific departments which deal with Insolvency.

The creditor with whom I had the biggest battle with bullying calls and letters, actually didn't bother to vote at all.


Reply author: Pennyless
Replied on: 21 September 2009 12:47:19
Message:

I still have to get to the "proposal" stage myself so hoping to keep them all (creditors) onside just incase it all go's pete tong and I end up dealing with them on my own.

At the moment, as well as a new pair of strides, optimism is something that I also cannot afford.image


Reply author: kallis3
Replied on: 21 September 2009 12:52:59
Message:

If your IVA wasn't approved, you could always do a Debt Management Plan and get a company to do it for you.

We did that prior to the IVA and it worked for us - only thing that put us off was the length of time it would have taken for us to pay it all back - 19 years by which time both of us will probably be pushing up the daisies!


Reply author: Pennyless
Replied on: 21 September 2009 12:56:55
Message:

Same here Kallis....considered DMP but time just wouldn't be on my side.


Reply author: Pennyless
Replied on: 21 September 2009 14:38:02
Message:

Just received another valuation for my property and emailed straight to my IP.....hoping to hear that they now have sufficient documentation to take my case a stage further.....fingers crossed!


Reply author: lesley_
Replied on: 21 September 2009 15:06:28
Message:

It's moving on Pennyless so hopefully you'll hear something very soon. Before you know it you'll look back and all this first part of your journey will be behind you. I remember when I first set out it couldn't happen soon enough and now 20 (almost 21)! months in, it seems so long ago. x


Reply author: Pennyless
Replied on: 21 September 2009 15:20:29
Message:

Thanks Lesley....I really hope so.


Reply author: jonmitch
Replied on: 21 September 2009 15:56:34
Message:

Hello Pennyless,

I'm new here and after reading the rest of this thread, I decided to post my current situation too, as well as ask for some advice while I'm at it :)

Like a lot of people here, I didnt realise just how many people are in a similar situation to myself and after reading these forums for only a few days, I realised that there was a lot of good help available, and so I am now in the process of doing something about my situation.

I am just starting the IVA process and am currently gathering paperwork to send to VincentBond and I have a local estate agent coming the do the house valuation on Wednesday of this week.

One concern I do have is that my partner, who is currently unable to work due to some major surgery recently, will be on the receiving end of the inevitable phonecalls from creditors during the day when I am in work. So far, all payments to my creditors are up to date, but 3 of my cards are currently over-limit, and the calls will eventually arrive, I'm sure.


I have removed my telephone number from my online profiles where I can, but is there any advice I can give her to deal with people if they call ? and if people from these companies come to the house when I am at work, what is her best course of action ?

I don't know if it makes a difference, but her name is not on any of the debts that I have, the only thing that is in joint names is our mortgage.

Apologies for a slightly rambling post, but this is something that is concerning me.

Cheers,

Jon


Reply author: lesley_
Replied on: 21 September 2009 16:06:04
Message:

Hi and a very warm welcome to the forum.

If the people call and the debts aren't in your wife's name then I doubt they would talk to her anyway. Any debt collector who calls refuse to engage in conversation with them and definitely don't let them enter the property.

I would give any calls that you take the IP's details and ask them to converse with them direct, I used to, it didn't stop any calls but I always used the same script.

I wish you well in your IVA journey and hope it's a smooth one.


Reply author: Pennyless
Replied on: 21 September 2009 16:07:00
Message:

Welcome John...I too am very new to this process and dreading the calls/letters that others have mentioned on these forums.

One thing you could do is change your number or if with BT then sign up for "Anonymous Call Reject" as some companies dont release their number and therefore will be unable to ring yours.

In any event your partner wont be able to speak to your creditors.

Others reccommend having the name of your IP and their details to hand when you receive calls...then simply give the caller those details and tell them to liaise with your IP.

Regards


Reply author: Michael Peoples
Replied on: 21 September 2009 16:07:52
Message:

Hi Jon. Your partner will be fine as your creditors cannot discuss any of your details with her under data protection laws. If they telephone she should ask for a name and number to pass on to you or give a time that is best for you to take the calls.

In the unlikely event that a creditor calls at the house she can just do the same but this is very rare. If you speak to your creditors and explain about your partner they are generally sympathetic. Give the creditors your mobile number and best time to call and they will usually ring you at the appropriate time. Ultimately, creditors just want to know what the situation is and if you keep them informed there should be no problems. Good luck with your IVA.


Reply author: SUNNY2MORO
Replied on: 21 September 2009 17:19:41
Message:

Hi all, just wanted to say that my husband & I are currently in the process of applying for an IVA & are just waiting for our proposal to come in the next couple of days.

We haven't paid our creditors since the beginning of July and when the first loan/credit card payments became due at the beginning of August the phone rang non stop for about a week. We decided to speak to all of them and explain our situation. They were all very kind & updated their records and we haven't had one single phone call since!

The letters have continued to come though & we have forwarded these onto our IP.

Hope this helps with anyone worrying about the calls.


Reply author: lesley_
Replied on: 21 September 2009 17:33:11
Message:

Hi sunny2moro and welcome to the forum, a positive post that shows communication in some cases does work.


Reply author: Pennyless
Replied on: 21 September 2009 18:24:36
Message:

Welcome Sunny, good to hear your creditors have been understanding. Good luck on your proposal.


Reply author: Skippy
Replied on: 21 September 2009 18:28:32
Message:

Good luck with your IVA Sunny2moro x


Reply author: MelanieGiles
Replied on: 21 September 2009 19:58:03
Message:

Great to hear all these positive posts about your own individual journeys. Keep up the optimism for those of you in the early stage of the process - you will eventually get your rewards!


Reply author: Pennyless
Replied on: 21 September 2009 22:35:09
Message:

Very much hope so Melanie and it can't come quick enough. Onward and upward though.


Reply author: kallis3
Replied on: 21 September 2009 22:37:27
Message:

Good luck from me as well Sunny.

Let us know how things go.


Reply author: Pennyless
Replied on: 22 September 2009 11:57:24
Message:

Well today I received my final document (Northern Rock loan update) required for my IVA proposal to hopefully be put together or at least move on a stage.

Unfortunately have also discovered that someone else has needed to take on my case now...so in three weeks I have been assisted by Tina, Angela and now Marc.....looking forward to hopefully Melanie catching sight of it in the near future lol.

Anyway onward and upward and fingers remain firmly crossed that I may soon be looking at a complete proposal.

Good luck all.


Reply author: MelanieGiles
Replied on: 22 September 2009 12:02:52
Message:

Don't worry - I keep an eye on all of my staff but they do have different roles within the team. Unfortunately Angela has had to take time off to look after her very poorly mother, hence the fact that Marc has stepped in to cover. I am personally following your case - as I do with all of my clients.


Reply author: rainbowofhope
Replied on: 22 September 2009 12:07:58
Message:

Hi jonmitch, I'm at the same stage as you, gathering information for Vincent Bond. I had a nasty experience yesterday with one of my creditors, but now I've just unplugged the phone!


Reply author: Pennyless
Replied on: 22 September 2009 12:08:45
Message:

Thanks Melanie.....sorry to hear about Angela but families come first and I have no doubt Marc is on a steep learning curve with my case and will be fully up to speed in no time at all.....especially after the flood of emails I have just forwarded him that I have passed to Angela.

Please relay my best wishes to Angela for her Mum.


Reply author: Cath
Replied on: 22 September 2009 12:27:54
Message:

I have just posted my first round of information off to Melanie's team, rather large package lol. A few more bits to arrive to fill in the gaps. House valuation set for next Tuesday....still haven't got my docs back from the ex firm ;(

Love to Angela and her family.


Reply author: rainbowofhope
Replied on: 22 September 2009 12:36:50
Message:

Hi Cath, have been reading your threads over the last couple of days, and it sounds like we're at the same stage as you - getting information together. I'm finding it a bit of pain, relying on other people for information - they don't seem to realise the urgency!! Never mind, onwards and upwards x


Reply author: Pennyless
Replied on: 22 September 2009 13:16:41
Message:

Good luck Cath I'm sure you'll get there. I agree Rainbowofhope its a pain but worth it in the longrun. I got my house valued at the end of last week and rang up the estate agents yesterday and asked them to scan and email my valuation over. Thankfully they did it as still yet to receive the hard copy in the post.

Must admit it took what seemed an age to get my details of my loan off Northern Rock.


Reply author: rainbowofhope
Replied on: 22 September 2009 13:36:53
Message:

That's great Pennyless - as you say, each milestone reached helps you feel much better - I feel better today knowing our house valuation is done, and it's done me the world of good being on here today - it's great getting everyone's help and advice, especially as we don't feel able to confide in friends and family about what we're doing - we're worried they'll be disappointed with the situation we've let ourselves get into x


Reply author: Pennyless
Replied on: 22 September 2009 13:42:10
Message:

Very much agree rainbow........dont know what I'd of done had I not found this site and been able to speak to people in a similar situation and get theri advice. Up until I did I must admit I felt like I was the only person in the world who was in debt up to my eyeballs.

The relief when I spoke to Melanies team and other IP's was IMMENSE to say the least.

Must admit this process really has made me focus on my debts and personal organisation in getting everything prepared and in order....instead of putting things off and allowing the situation to worsen.


Reply author: rainbowofhope
Replied on: 22 September 2009 13:46:26
Message:

Same here - after speaking to Julia at Vincent Bond I felt so relieved that there was a way out of the mess we had gotten into - the last straw was when we went into a school uniform shop for our daughter's new school cardigan in August and our Debit card was declined - we've never been so mortified - we had gone well over our agreed overdraft limit. And because of our credit card debts, two of our cards were declined as well - we had to come home and scrape together 20ps we had saved in a jar - luckily for us it was enough to buy the cardigan. That was it for us - we had hit rock bottom and needed help desperately. As the weeks go on it is getting easier, but will be so relieved if our IVA is accepted.


Reply author: Pennyless
Replied on: 22 September 2009 14:29:50
Message:

Rainbow sorry to hear that but at least there appears to be a light at the end of the tunnel now.

I too will be elated when/if I get my IVA approved and although I realise I will be placed on a strict budget the thought of not being in debt in 5 years and actually being able to spend my own money will at least make me start to live my life again, instead of spending each and every waking moment worrying, which for the last few years has been my main pastime for one reason or another.


Reply author: rainbowofhope
Replied on: 22 September 2009 14:37:05
Message:

The thought of having our bank account showing a credit balance keeps me going!! It will be hard over the next few years but, as you say, at least the worry will be gone and we can relax


Reply author: Pennyless
Replied on: 23 September 2009 13:23:35
Message:

Well not much to update on today.

Received a letter from Northern Rock to say I'd missed my payment this week. Simply contacted them (although letter had been sent previously regarding my intention to seek an IVA) and gave Melanies name and contact details and they said they would wait for a further update.

Thankfully established yesterday that my "documentation" was at last complete and the case would be progressed to the "proposals" team, therefore all I can/will do is wait out on their contact and continue to forward any letters/statements from creditors to Marc and Angela.

Also had it confirmed today that as my wife is not part of the IVA then if she makes any extra money it is hers to keep, so guess who will be doing the most overtime now.

Ah well, onward and upward. Working nights for the next couple of nights so will be asleep through the days so any calls will go un-noticed.


Reply author: jonmitch
Replied on: 24 September 2009 12:04:32
Message:

Thankyou all for your kind welcome and good advice, it made a lot of sense, and the panic has abated a little image

The house valuation has had to be put off until tomorrow, but I think that I have now got all the paperwork I need, other than the valuers letter.

Fingers crossed all goes well for everybody.

Chin up image

Jon


Reply author: kallis3
Replied on: 24 September 2009 17:36:26
Message:

Good luck Jon, keep us informed as to how things are going.


Reply author: Pennyless
Replied on: 27 September 2009 09:35:21
Message:

Received more correspondance on fri.

Got two letters from Halifax regarding my individual accounts with RBS/AA acknowledging the letters I had sent them in regards to being in the process of obtaining an IVA.

Both letters stated "We are sorry to hear of your current financial difficulties and appreciate that this is a difficult time for you", which I found very understanding, however, they then go onto request that I contact them and make a "small token payment" as a gesture of goodwill and in order for them to "hold" my account, which I found quite reasonable in the circumstances.

I'm a little concerned that if I don't make a token gesture then they may well have to hand over my account to a debt recovery agency (hounds from hell), however, on the flipside if I do then it may be seen as "favouring" a particular creditor over another.

Added to the fact that I have so many creditors I am wondering should i, at this stage, just divide what I am expected or envisaged to pay in an IVA between them all and make a token payment of 30 - 50 to each one to keep the accounts from going to firms like Mercers et al.

Any advice would be appreciated.

PS: I have set aside 700 for my IVA for when I get my "proposal" to return so wouldn't have to get more debt to make a "token" gesture at this stage.


Reply author: kallis3
Replied on: 27 September 2009 09:54:55
Message:

If you make token payments to one creditor, you must make them to all as it will be seen as favouring one creditor.

Even if you do make them, they will most likely hand your account over anyway, so personally, I wouldn't bother.

Just tell the Co-op that you don't want an overdraft facility, you have no need to tell them why.

Have you thought about starting a blog Pennyless? Much better to chart your journey on there and they do get read an awful lot. It's quite easy to do.


Reply author: MelanieGiles
Replied on: 27 September 2009 11:34:39
Message:

If you feel better about making token payments in the run up to you creditors meeting, then as Jan says just make sure that you send a similar amount to each creditor in line with the quantum of their debt.

You don't have to set aside monies for that first payment into the IVA - this can be made once it has been accepted, it is just my generaly policy to seek the payment in advance given that most people do not pay their creditors in this hiatus period and therefore I want to be sure that they have started budgeting correctly and can find the future payments affordable.

As Jan says it is unlikely to make any difference to the end result, but it might make you feel better, a little more in control and could stop some of the ongoing correspondence and telephone calls.


Reply author: Pennyless
Replied on: 28 September 2009 10:30:11
Message:

Thanks for the advice Kallis.

Melanie as you say it would make me feel much better and I really want to avoid getting into a wrangle with my creditors, particularly if my IVA proposal doesn't go through smoothly or fails.

I think I should play ball with my creditors, after all it is their money I have spent and at least if I pay them what I can I am showing them that I am willing to do what I can to repay my debt.....even if it is just a token gesture.

Thanks again.


Reply author: lesley_
Replied on: 28 September 2009 10:32:35
Message:

I think that's a great attitude pennyless x


Reply author: MRBLUESKY
Replied on: 28 September 2009 11:27:03
Message:

i did exactly that pennyless and my iva went through without a hitch so i did feel better for that.and had very little hassle from creditors.


Reply author: Pennyless
Replied on: 28 September 2009 11:52:26
Message:

Thanks Lesley/Ronald.

I have rang all my creditors and made a payment pro-rata with their percentage of debt and an estimated amount of what they will hopefully be receiving if my IVA go's ahead.

I hope my creditors do take these payments into account but hey if they don't then so be it.....at least I know I've done what i can and as you say Ronald it could help keep them off my back.....at least for a short while.


Reply author: Pennyless
Replied on: 28 September 2009 15:34:34
Message:

Was refreshing to find that on speaking to Barclayloan today regarding my debt they advised that had I not already done so then i should seriously consider opening a new bank account and making sure my wages went in it, otherwise the money would be used to offset my debts to my overdraft (Barclays bank) and loan and my overdraft withdrawn, effectively locking-in my money.

I know we are advised of this by our individual IP's, but i just found it good that Customer Services at a creditor would actually issue advice to assist customers in difficulties and I think credit where credits due (no pun intended).


Reply author: MelanieGiles
Replied on: 28 September 2009 20:34:32
Message:

That is great feeback - well done Barclays!


Reply author: Pennyless
Replied on: 29 September 2009 08:53:31
Message:

Agreed Melanie.....if only all creditors could be as helpful....also worthy of note that on speaking to Egg...the assistant informed me that as I was now in the process of obtaining an IVA and informed them of my financial difficulties, she had stopped all interest accruing on my account....so another result.


Reply author: kallis3
Replied on: 29 September 2009 16:59:17
Message:

I made no payments at all to my creditors in the run up to the IVA, and it made no difference at all. I can't say that I felt guilty either. I knew that I was doing something about my problems.


Reply author: Pennyless
Replied on: 30 September 2009 13:22:23
Message:

Onwards and upwards then. Thankfully I contacted Angela today and have been given a meeting with Thomas at the "proposal team" on Thu 8 Oct 09.

Does anyone have any idea how long it takes after making first contact with a "proposer" until the proposal is complete?

At the moment everyday seems like a lifetime and the two weeks from getting my documentation completed to actually speaking to a "proposer" is not making life much easier.....but I suppose these things cannot be rushed.


Reply author: pog1234
Replied on: 30 September 2009 13:50:47
Message:

Hi Pennyless,

Once the telephone meeting took place they posted the proposal to us to sign that very day and we recdeived it the next day!.....they will already have your I&E I guess and will just run through that and your income and discuss all the legal jargon.This call lasted about an hour. Lots to take in but once they receive your signed proposal back it is 16 days from then to the creditors meeting


Reply author: Pennyless
Replied on: 30 September 2009 17:09:15
Message:

Cheers Pog...wasn't sure if it would be another week or two before they actually got the proposal out.

Notice you now have the countdown on your sig...well done again!


Reply author: kallis3
Replied on: 30 September 2009 17:45:13
Message:

I'm sure your proposal will be with you soon. It won't be long after that before your creditors meeting.

Much better to make sure everything is ok, even if it means it takes a little longer.


Reply author: rainbowofhope
Replied on: 30 September 2009 19:15:37
Message:

Hi Pennyless! I feel the same as you to be honest - all our paperwork has now been submitted and is ready to be passed to our IP - can't wait to have everything in place! Sounds like you'll have your creditors meeting really soon, I wouldn't worry x


Reply author: Cath
Replied on: 30 September 2009 19:26:50
Message:

Hey Penny, I'm still waiting on a few docs but hopefully, we'll be in the same position as you very soon xxx


Reply author: lesley_
Replied on: 30 September 2009 19:59:54
Message:

Pennyless it seems like an eternity now but once accepted you'll look back and realise how quick time has gone and the relief will far outweigh the wait. I'm sure it won't be long now and wish you all the best, you really are in safe hands.


Reply author: Pennyless
Replied on: 01 October 2009 05:15:39
Message:

Thanks all......rainbow/cath yep looks likes we are all around the same area of the process. Kallis/Lesley cant wait to get to your stage hopefully.


Reply author: lesley_
Replied on: 01 October 2009 07:21:08
Message:

You'll get there Pennyless, won't be long now


Reply author: kallis3
Replied on: 01 October 2009 12:07:12
Message:

You will get there - and wonder where the time has gone!image


Reply author: rainbowofhope
Replied on: 01 October 2009 18:07:10
Message:

We'll all get there together!! I'm just waiting to hear from our IP now - hopefully won't be too long. At least they have everything they need now, and our phone is still unplugged so haven't had any creditor hassle!! xx


Reply author: Julie
Replied on: 01 October 2009 21:41:31
Message:

It's great there's a few of you at the same stage of the process. image

You'll all have to write blogs of your story's...be great to read the full picture of everyone's experiences.


Reply author: Cath
Replied on: 01 October 2009 21:57:33
Message:

I've started mine, not very interesting, maybe I should post my personal statement in there for a bit more background.

I feel akin to Penny (even though I think he's a bloke) and Rainbow as we are all at similar stage I don't know them but can't wait for all of us to get to the ....My creditor meeting is on....posts


Reply author: MelanieGiles
Replied on: 01 October 2009 23:25:22
Message:

Pennyless - Thomas works for me, and as soon as he has had his review chat with you to run through the figures, we will probably chat the next day.

In an busy insolvency practice, you have to work to time slots for progressing the work, and I can assure you that your case is very much on target - I would even hestiate to say that it has taken a very short process to get to this stage.


Reply author: Cath
Replied on: 01 October 2009 23:30:20
Message:

That's what I was thinking and why I am so jealous! Penny, you must have been really good and kept all your paperwork over time, as that is why I am struggling now, having filed everything under B for bin!


Reply author: Pennyless
Replied on: 02 October 2009 08:52:10
Message:

Melanie thanks...looking forward to chatting to you sometime, although at the moment the info, service and assistance I have received from initially Tina then Angela has been great all the way along so I'm keeping the big guns for the final push lol. Your quite right the process has went well to-date and after the amount of time spent getting myself into this dreadful position I am just thankful that I have yours and others support in getting myself out of this nightmare hopefully.

Cath I didn't have a filing system either..."out of sight, out of mind" was my motto, but thankfully managed to find everything and one thing this process has made me do is start filing things properly.

Rainbow/Cath I really hope we all get succesfull IVA's in the near future and although I post in the main, my wife reads nearly every post on these forums...so if I start talking about babies, bingo or washing machines please take this into consideration lol.

Anyway onwards and upwards...


Reply author: kallis3
Replied on: 02 October 2009 09:14:34
Message:

We have had a filing system for years which gets periodically weeded and shredded, but it was still 'out of sight, out of mind'. The bills came in and they got filed away before hubby could see them!

He still trusts me to sort the finances out - Lord knows why!image


Reply author: rainbowofhope
Replied on: 02 October 2009 20:46:27
Message:

Penny/Cath - it does seem we're all at the same stage, which is great - we can all help each other along. As you say, Cath, even though I don't know you personally you and Penny (and everyone else) have been a fantastic help over the last few weeks. It's good to know there's someone who understands the predicament we're in. I've had confirmation from VB today in writing that my papers have been passed to Melanie, so I feel like we're that bit further on - Cath I'm sure you'll have your paperwork in order soon, chin up hun!! Penny - you'll be sorted before me and Cath from the sounds of it - good luck, sure you'll be fine x


Reply author: Pennyless
Replied on: 08 October 2009 13:32:08
Message:

Well as planned got a call of Tom to go through my proposal prior to speaking to Melanie tommorrow.

The call lasted about 1.5 hours and there was very few amendments added to my original I & E which I discussed the start of the process, therefore no horrible surprises.

I realise its not a major step but believe me today couldn't come fast enough, as like others I just want to get to the IVA start line and start on the road to the 5/6 years which hopefully lies ahead to debt freedom.

Onward and upward we go.....fingerscrossed.


Reply author: Julie
Replied on: 08 October 2009 13:38:12
Message:

It is a major step pennyless and another one closer to being debt free.

Good luck xx


Reply author: Cath
Replied on: 08 October 2009 13:54:32
Message:

One more step along the path x


Reply author: Pennyless
Replied on: 08 October 2009 15:35:22
Message:

Thanks Swans Girl. Cath hope things are going well for you too.


Reply author: MelanieGiles
Replied on: 08 October 2009 20:25:34
Message:

Tom will fall you to rearrange the meeting tomorrow Pennyless, as I am due to meet up with some of my old Army friends tomorrow evening! Hopefully we can talk a little earlier in the day, or even Saturday if you are around.


Reply author: rainbowofhope
Replied on: 08 October 2009 23:23:28
Message:

That's good to hear Pennyless - at least you're one step closer. Our papers have been referred to Melanie via VB, so we're just waiting to hear from her now - have had some threatening letters today from our creditors, but not worrying too much. We changed our phone number as well, so we can now plug it back in without worrying who's calling!! x


Reply author: Pennyless
Replied on: 09 October 2009 05:44:00
Message:

Melanie sorry about delay in replying but just got in from work. Anyway no probs if you can't make the appointment tommorrow evening....I'll speak to Tom in the morning to rearrange.....but wont make it for anytime early on Saturday lol...after all I am sure the Officers Mess will not be closed until at least early saturday morning.

If we dont get to speak before, have a great evening Melanie.


Reply author: Pennyless
Replied on: 09 October 2009 06:05:12
Message:

rainbowofhope great to see you moving forward and noticed Cath is also in tow....just hope these planned Postal Strikes dont interfere with any of our mail...of course if it's threatening letters then they can stay in the Post Office!

I have kept the same number and not been subjected to many calls, however, I am sure this will change as the IVA process continues to finalisation.

Worthy of note that although Melanie is my IP I've yet to chat to her but the staff in her office have been great and answered every single one of my questions, as a result of which I have not really needed her assistance.....yet lol. Their patience in explaining things has been excellant and each one..Tina, Angela, Mark & Tom have made the past few weeks certainly more bearable.

Whether or not my IVA application/proposal is successfull or otherwise remains to be seen but one thing I can't fault is those that are simplifying and guiding me through the maze of debt and still allowing me to feel human and "not the waste of space" and "failure" I have felt for so long before I came across Melanie and her team...not to mention this forum also.

Onward and upward.


Reply author: Pennyless
Replied on: 09 October 2009 08:55:52
Message:

At 8.30am this morning got a call from Barclayloan Collections and subsequently after giving them the details of my IP and a token payment (which I have given to all my creditors this month pro-rata with their money owed), was informed that they would not contact me for at least 14 days or until I informed them of my creditors meeting.......we live in hope and time will tell.


Reply author: kallis3
Replied on: 09 October 2009 18:42:53
Message:

I hope they don't, but don't be surprised if you get the calls again in a few days time.


Reply author: Pennyless
Replied on: 10 October 2009 12:26:30
Message:

Well hoping the IVA process will move a step closer next week Kallis if I can get my proposal signed, sealed and delivered and move onto the creditors meeting.....then by the beginning of Nov my creditors will have no need to ring me.....fingerscrossed.


Reply author: kallis3
Replied on: 10 October 2009 12:37:19
Message:

Hopefully it will all be sorted out Pennyless.

I'm sure you will get a meeting date soon.


Reply author: Pennyless
Replied on: 11 October 2009 18:01:28
Message:

Just a quick update.....spoke with my IP today (Melanie Giles) and to tell you the truth if she wasn't my IP I would of viewed the call more as a "social" call then a "formal" call, she's soooo nice, understanding, clear and to the point.

Melanie wasn't able to add much that I wasn't already aware of from Angela, Tina and Tom, therefore again it was refreshing to establish that there were no new surprises and what Tina, in my first ever call to an IVA specialist, had advised was pretty much on the button. As a result of which I now feel justified in the confidence and better frame of mind I have felt since contacting Melanies Company.

Though Melanie did, however, reitterate most of what I was already aware of and although it may seem repetitive to some, this process is totally new to me, therefore I felt even more reasured by hearing her voice as my actual IP. Melanie was insistent, quite rightly, that I fully understood the process, my obligations and the committment required from me.....but I assured her that after reading the forums and experiences of posters in such depth and double-checking everything with my advisers, I was certainly entering into this process with eyes wide open.

I should now be receiving my proposal in the coming days so its another milestone and step forward and I must admit although speaking to the others, it was brilliant to speak to the person who will after all be representing me at the creditors meeting. I personally would of felt a little uneasy had we not spoken and I had not had the opportunity to give her my full story from the horses mouth so to speak. It's difficult to explain but I feel this now makes my application between myself and Melanie, acting as my IP, more personal and hopefully this should pay dividends (no pun intened) itself in her giving/explaining my case to my creditors.

All done on a Sunday also....many thanks Melanie for your time!


Reply author: Julie
Replied on: 11 October 2009 18:55:00
Message:

I'm glad you spoke to Mel, as you say it was just reassurance of what you already know, but it all helps. You also know your IP is approachable and thats so important.

Well done on making this next step, not many more to go now.


Reply author: kallis3
Replied on: 11 October 2009 19:21:15
Message:

Melanie is brilliant, and available at most times of the day.

Your creditor meeting will be here before you know it.


Reply author: MRBLUESKY
Replied on: 11 October 2009 21:08:37
Message:

your in good hands pennyless,good luck to a debt free future,your on your way now.


Reply author: kallis3
Replied on: 11 October 2009 21:20:06
Message:

You will be fine Pennyless.


Reply author: lesley_
Replied on: 11 October 2009 23:35:55
Message:

I'm sure you'll have that date very soon.


Reply author: MelanieGiles
Replied on: 12 October 2009 00:46:20
Message:

I've finished off the proposal for you now, and it is in the post - so let me know what you think when you have had chance to read it. And do make sure you wife gets the opportunity to read through it too - as four eyes are always better than two!

Glad you found our chat useful, and it was really nice to speak to you personally at long last!


Reply author: Pennyless
Replied on: 12 October 2009 02:29:08
Message:

Thanks to all for the support...yep looks like I am getting a lot closer to an actual creditors meeting and hopefully a way out of my debt "hell".

Melanie I know you said you would have my proposal done as quickly as possible but the sincerest of thanks from my Wife and I for spending your Sunday on mine and I am sure others cases. You really are a star and I am so relieved that I have chosen, what I feel, is one of the better IVA companies out there!

Thank-you again

Pennyless and the better half:-)


Reply author: lesley_
Replied on: 12 October 2009 02:36:28
Message:

I feel that Melanie always give 110% in whatever she does.


Reply author: kallis3
Replied on: 12 October 2009 06:33:48
Message:

I will agree with that Lesley.


Reply author: MelanieGiles
Replied on: 12 October 2009 12:14:49
Message:

Well there was no sport on the telly of any worth yesterday - so I might as well write a proposal or two!!


Reply author: lesley_
Replied on: 12 October 2009 12:23:07
Message:

Next Sunday you can start on Dave's for Skippy Melanie? lol


Reply author: Pennyless
Replied on: 12 October 2009 22:19:22
Message:

Melanie I look forward to receiving my proposal over the next day or two and will return it before friday using "next day" delivery.....I will also scan and send it through to you via email just to make doubly doubly sure it gets to you by the quickest means. That should mean less work for you this coming weekend. Thanks again!


Reply author: Pennyless
Replied on: 13 October 2009 16:49:17
Message:

Well proposal received and read, agreed, signed and returned. Should be with Melanie by 1pm tommorrow....another stage hopefully completed.


Onward and upward!


Reply author: kallis3
Replied on: 13 October 2009 16:55:00
Message:

Once she gets that it shouldn't be long until you get a meeting date.


Reply author: Pennyless
Replied on: 13 October 2009 17:05:52
Message:

Agreed Kallis.....hoping Melanie will have a date/time agreed with my creditors by 2pm lol.

Dont worry..only joking Melanie....I realise it'll take at least till 3pm to arrange:-)


Reply author: MelanieGiles
Replied on: 13 October 2009 17:39:33
Message:

We'll do our best - but if it gets back tomorrow it could still be an October meeting!


Reply author: Pennyless
Replied on: 13 October 2009 17:51:25
Message:

Thanks Melanie....just relieved to have the proposal done and dusted. Will now leave it to the best IP I know:-)


Reply author: Max
Replied on: 13 October 2009 18:25:52
Message:

Pennyless - whilst my boss is out with the dog I thought I would have a quick look in - you remind me vey much of someone who used to post on here. There is no doubt about it - you are with, in my view, the best IP in the country so don't worry! Melanie does not go the extra mile she does the marathon for her clients who very quickly become her friends. If it is any consolation to you 7/8 firms,some very well known ,said I would never get an IVA - well Melanie obtained it - it was very complicated but it went through n the first attempt!I shall look forward to your "acceped" post - by the time that comes around I shall be posting again.D


Reply author: MRBLUESKY
Replied on: 13 October 2009 18:57:43
Message:

nice to here from you D hope you are ok,looks like pennyless is going to have a happy halloween.


Reply author: Max
Replied on: 13 October 2009 19:00:47
Message:

Fine hank you Ronald apart from looking like I've done ten rounds with Henry Cooper - showing my age now. Got to shut down - wife has just truned the key in the gate!>D


Reply author: Pennyless
Replied on: 13 October 2009 19:07:06
Message:

Thanx elv....great to see Max on the forum again. Yep Ronald hopefully it will be a happy halloween, however, the visitors to the door will have to work a lot harder for their "treat" this year, infact may just ask for the trick lol!


Reply author: Cath
Replied on: 13 October 2009 19:14:23
Message:

Great news Penny. I'm just waiting for 1 document now from a local company who don't know their ar*e from their elbow....hopefully I'll be tagging along behind you soon.

Elv5 I was also told that our proposal wouldn't get through fo less than 33p which we couldn't afford, so glad we found Melanie.


Reply author: Pennyless
Replied on: 13 October 2009 19:19:07
Message:

That would be great Cath.....just noticed our number of posts are within 2 of each other and both Campaigners together. Looking forward to seeing a few of us getting our applications succesfully approved.

Fingers and toes crossed.


Reply author: lesley_
Replied on: 13 October 2009 21:18:46
Message:

Won't be long now Pennyless....it's all coming together.


Reply author: LDM84
Replied on: 13 October 2009 23:27:57
Message:

Hi all , this is my first post on the forum , I guess I've been a little shy about posting and more than a little embarrassed about our situation.
Pennyless , reading your post/blog has made me realise its not just me/us in this ridiculous situation and it has defo made me feel a little better , so thanks for that.
We are just a little behind you in the process of the IVA , we literally have just got our package of documents together to send out to Angela at Melanie Giles and some process that has been waiting for valuations and account statements , finding documents etc etc.
We were the same , our filing system was pathetic to say the least.
Anyway , I look forward to hearing more about your meeting and hopefully your acceptance post , in the meantime I'll try to keep updated where we stand in our process.
Its also been very encouraging to hear all the praise Melanie and her employees get on the forum , I must say I've had nothing but a good experience with both Tina and Angela up to now , that initial phonecall was the hardest thing I've ever done , just made me feel like a total failure but Tina was just fantastic.
I was a bit unsure of what to put in my background statement(another very difficult thing to do) , I was just honest and hope it comes across well enough.
Anyway , I'm waffling now so , gonna get some sleep or at least try to.
The very best of luck to all of the campaigners ;p


Reply author: lesley_
Replied on: 13 October 2009 23:39:46
Message:

LDM84, welcome to the forum, I think we've all been there with the embarrassment and so glad that Pennyless has helped you feel better.

I can only confirm you're in very safe hands with Melanie and her wonderful team, she certainly is very well liked and respected on the forum by all of us.

Keep us up to date with your progress we're all here for each other whether it be for advice or support.


Reply author: MelanieGiles
Replied on: 14 October 2009 00:13:32
Message:

Nice to see you posting - the first one is always the most difficult but you soon get used to it. I was a bit like that at first!


Reply author: Pennyless
Replied on: 14 October 2009 09:02:19
Message:

LDM84 welcome to the forum and thank-you for your kind words regarding my thread. Apart from a reminder to myself, if it serves to help others as much as others have assisted me on here, then I feel it is and has been very worthwhile.

Sometimes I honestly post just because I am feeling down and within a short time I can get support off some brilliant posters on here without having to bother my IP or Wife. Apart from my Wife, who already is getting over a major hurdle in her own circumstances, I have no one close to chat to in regards to the IVA and must admit at times, even with her support it's still a lonely place to be. However, hopefully that will soon all change and I will be back in control of my own finances and able to feel better about myself again.

I hope you will keep posting and look forward to watching your progress.


Reply author: Helen
Replied on: 14 October 2009 09:27:36
Message:

Hi LDM84

Just wanted to welcome you to the forum, I remember my first day :-) We'd been in our IVA 2 and half years by then and when I found this site it was like someone had opened the curtains! All of a sudden there were these people who were the same as us and the releif was just insurmountable. So glad you've decided to post hun.

pennyless .. getting there hun.. I'm sure we'll be celebrating very soon with you.

xxx


Reply author: Pennyless
Replied on: 14 October 2009 09:45:50
Message:

ladyh only 8 months to go for you eh....do you know what you will do with your extra money yet?


Reply author: Helen
Replied on: 14 October 2009 09:53:23
Message:

have you got a few hours spare to read my lists?? lol.

Camera, clothes, Holiday, TV, decorating, then start some savings. In that order

I just hope it actuially works out as simple as that.

xx


Reply author: Pennyless
Replied on: 14 October 2009 10:07:06
Message:

Ladyh after getting you and yours through 52 months of looking after your money and being disciplined in regards to all things financial, i honestly think you will find it much simpler then your expecting and you deserve it.

A massive achievement as are all those succesfull IVA's!


Reply author: Max
Replied on: 14 October 2009 10:33:25
Message:

Ladyh I am breaking doctor's orders again by looking at the screen before 4 weeks are up but I must say to you "Of course it will work out- for you have shown enormous courage in what you have so far achieved - do not, please, doubt ever again." D


Reply author: kallis3
Replied on: 14 October 2009 19:52:37
Message:

David, you must stop coming online until your doctor tells you that you can! You don't want to risk doing any damage!

Ladyh - that finish line is getting closer all the time. Just don't go totally mad once you get there!image


Reply author: Helen
Replied on: 14 October 2009 20:42:48
Message:

I'll try not I think although I may have to have just one rather big splurge..

yes elv... naughty... the advice is there to protect you hun. Now rest those eyes, fully recover and then you can type to your hearts content. thank you and you pennyless by the by for your kind words.

xx


Reply author: lesley_
Replied on: 14 October 2009 22:15:06
Message:

LadyH not long till we have that party?


Reply author: kallis3
Replied on: 14 October 2009 22:16:45
Message:

Now that would be a great party!


Reply author: Pennyless
Replied on: 15 October 2009 10:51:41
Message:

Well the next stage is upon us, just had it confirmed....Creditors Meeting to be held on 30th Oct.

Hopefully I get the "treat" and not the "trick".

Heres hoping with fingers and toes crossed.


Reply author: Cath
Replied on: 15 October 2009 10:56:31
Message:

Oh well done Penny, I will make a note in my diary! Doesn't it all come around quickly after the long process of collating all the documentation!


Reply author: Pennyless
Replied on: 15 October 2009 11:03:07
Message:

Certainly does Cath....hoping to see yours and Rainbows dates also soon. Not sure if Rainbows received theirs yet?

Now just a waiting game I suppose and I doubt I will sleep any better until the meeting is done, however, it is a good feeling to know that all the mountain of documentation is complete....not much I can do now but HOPE......but hey with Melanie, Tom and Angela on my case I feel I have a fighting chance at least.


Reply author: kallis3
Replied on: 15 October 2009 11:05:56
Message:

You'll be ok Pennyless - Halloween isn't till the following day and your IP is one of the best!


Reply author: Pennyless
Replied on: 15 October 2009 11:18:22
Message:

Yep Kallis I've got a lot of faith in Melanie and the team.


Reply author: pog1234
Replied on: 15 October 2009 13:44:30
Message:

Well done pennyless.......30th will soon be here. Just checked the insolvency register and our names are now on it! The postman hardly ever comes I can't tell you what a relief you will feel. Good luck


Reply author: lesley_
Replied on: 15 October 2009 13:46:00
Message:

Oh Pennyless you're not far away now, the 30th will be hopefully a good day for you and be assured by myself you're with the best as I am!


Reply author: Pennyless
Replied on: 15 October 2009 15:16:17
Message:

Thanks Lesley/Pog. Wow just checked the register....can't believe it gives addresses also!


Reply author: Helen
Replied on: 15 October 2009 15:29:53
Message:

only 2 weeks to wait... not long at all and I feel you'll be starting November with a clean slate.

The very best of luck

xx


Reply author: Pennyless
Replied on: 15 October 2009 15:37:40
Message:

Ladyh I suppose its not even worth trying to explain the elation and relief we shall feel if we are successful, as you and many others know exactly how it feels in the run up to the creditors meeting and the big "yes" vote hopefully at the end.


Reply author: Helen
Replied on: 15 October 2009 15:46:19
Message:

imageimageimageimageimage

Somewhere along those lines??

xx


Reply author: Pennyless
Replied on: 15 October 2009 16:12:16
Message:

Ladyh well put lol.


Reply author: rainbowofhope
Replied on: 15 October 2009 19:56:01
Message:

Hi Pennyless! That's great, glad you've got your date. I'm not quite there yet - our IP is calling me on Monday 19 Oct for our phone interview - how long did you wait for your creditors meeting after your phone chat? xx


Reply author: Pennyless
Replied on: 15 October 2009 20:20:20
Message:

Hi Rainbow...had my first interview to go through the proposal with Tom as arranged on 8 Oct for about 1.5 hours, at the conclusion of which he arranged for me to speak to Melanie at the earliest opportunity.

Due to my work commitments I eventually spoke to Melanie on the 11 Oct (yep a Sunday due to there being no Rugby on the TV luckily lol), after which I received my proposal within two days. I then completed it and sent it by Guaranteed Next day delivery and subsequently today got my creditors meeting date.

I've made detailed posts previously regarding each step and the date so wont bother reitterating how nice both Tom and Melanie were during the interviews and what was discussed....but rest assured once the interviews are complete and you have received, checked and are happy with the proposal, the meeting is arranged within hours of receipt by Melanies team (Angela in my case).


Reply author: Pennyless
Replied on: 15 October 2009 20:23:49
Message:

Rainbow theres a postal strike next week so I'll keep my fingers crossed that you manage to receive and return your proposal without any hitches.


Reply author: rainbowofhope
Replied on: 15 October 2009 20:25:20
Message:

That's great!! I've got Susan Clay calling me on Monday - so hopefully may have my proposal by the end of next week!! Just hope the post doesn't go on strike!! Keep your fingers crossed for me...and I'm so glad you're meeting is sorted. Let's hope we'll be all approved for Christmas xx


Reply author: Pennyless
Replied on: 15 October 2009 20:30:54
Message:

Yep Rainbow I would be very surprised (post permitting) if you dont get your "proposal" by friday....but once you've read it and returned it, the creditors date, which we all look forward to obtaining, just seems to quickly come out of no where and drop on you like a lead balloon!

Hoping you, me and Cath are finally in our IVA's by end of November!


Reply author: Cath
Replied on: 15 October 2009 20:50:38
Message:

Me too (sad face), still awaiting 1 document from a local company, not a big credit company, but still no joy!

I would assume once that is received I will have the phone call with Tom and then I will need to go to Cardiff for a meeting with Melanie due to my self-employed element, I'm looking forward to meeting Melanie in person. Bridge fees and petrol money already banked lol!

Cross all your fingers and toes that these people get their finger out. Angela is on the case and I keep ringing them too. If they don't play ball, it's only for a blooming vacuum cleaner that I got sucked into the sales pitch (excuse the pun!), it's holding the process up big time!


Reply author: Pennyless
Replied on: 15 October 2009 21:02:53
Message:

Cath I've spoken to Melanie and she's great. Didn't have to meet her but if my IVA is successful I will ensure that at sometime during my IVA i meet the full team....feels like I've known them for years already and believe it or not they know more about my wife and I and son and daughter then anyone else, including our family.


Reply author: Cath
Replied on: 15 October 2009 21:19:43
Message:

Penny, it's funny how you draw conclusions about people on forums, I thought from reading your posts that you would be in your 50's and I'm sure I read somewhere you are 45, just 5 years older than me. You obviously started you family at a young age which is where I think I must have got that from as my eldest is 12. xxx


Reply author: Pennyless
Replied on: 15 October 2009 21:28:26
Message:

Cath your not far wrong.....in the past 18 months I have aged at least 5 years!...yep I'm 45......my kids are in their very early 20's thankfully.




Reply author: Pennyless
Replied on: 18 October 2009 13:57:20
Message:

Cath any luck on your last document?


Reply author: Cath
Replied on: 18 October 2009 15:42:25
Message:

Nada Penny, very frustrating, it's holding everything up. Got all my old documents back though, not that I need them now!


Reply author: Pennyless
Replied on: 18 October 2009 17:33:46
Message:

Cath is there no way you can speak to the company and ask them to email the details to you or give them Melanies fax number and ask them to fax it to her. I'm sure you will of already impressed on them that time is of the essance and without their documentation they are only delaying receiving their money.


Reply author: Cath
Replied on: 18 October 2009 17:45:24
Message:

They are worse than useless, Angela has been on the phone to them many times as have I and in the scheme of things they are a small debt! I think it's HP but they haven't been even able to confirm that!


Reply author: soashamed70
Replied on: 18 October 2009 19:07:08
Message:

Pennyless

I just wanted to say a big thank you for your words of encouragement yesterday. Selfishly I was so wrapped up in my own troubles, I didn't even realise you were at the stage you were. I can only wish you all the best and I am sure with Melanie and her team working for you, you will be fine.

Thanks again for all your wise words


Reply author: kallis3
Replied on: 18 October 2009 19:12:49
Message:

Cath - what a nuisance!

Soashamed - you'll get there!


Reply author: Pennyless
Replied on: 18 October 2009 21:27:52
Message:

Soashamed we all start somewhere and the least we can do for the help we receive from the many posters and experts on this forum is to reciprocate the assistance that we have received.

We all have our off days and may I add great days at whatever stage we may be at but one things for sure, if we share our experiences, thoughts or even fears with others on here, then we can always get the support we ALL need at sometime.

As Kallis says you'll get there and I have no doubt you will help others along the way.




Reply author: rainbowofhope
Replied on: 19 October 2009 17:57:48
Message:

Hi Pennyless/Cath - had my phone interview today with Susan - she is concerned as we are paying our mortgage and secured loan, and feels the creditors may want us to hand the house back and rent somewhere, as this would be cheaper and free up more money for the IVA Payments!! There's no way we want to give up our house - has anyone else experienced this??


Reply author: kallis3
Replied on: 19 October 2009 18:00:39
Message:

It does seem to more common, I have answered a similar question on another thread.

We have a mortgage and secured loan and were allowed to keep on paying those even though they account for more than 50% of our monthly income.


Reply author: Cath
Replied on: 19 October 2009 18:02:10
Message:

Oh no! Are the mortgage payments and the secured loan payments pretty high then? Got me worried now lol!

Good luck, I hope it gets sorted for you and you don't have to sell up.

I'm still awaiting that 1 document!


Reply author: rainbowofhope
Replied on: 19 October 2009 18:02:23
Message:

Hi Jan, thanks for your quick reply. Our mortgage and secured loan account for 47% of our monthly income, so surely our creditors will allow that? Susan did say she was just warning me this may happen and they make it a condition of the IVA, but in that case we would probably go with a DMP instead - what do you think??


Reply author: kallis3
Replied on: 19 October 2009 18:11:34
Message:

Ours are both high, but we also have a reasonable amount of DI and some equity to try and release at the end. However, perhaps it also comes down to disposable income other than the secured borrowings.

Susan obviously knows what she is talking about - more than I do!

You can go down the IVA route - you have nothing to lose, and it won't cost you anything. If you get rejected, you can at least do a DMP.


Reply author: rainbowofhope
Replied on: 19 October 2009 18:15:06
Message:

Thanks Jan - I don't doubt Susan's knowledge at all, that's her job - it just took me by complete surprise to be honest. We don't have any equity in our house at the moment, maybe that's a big factor - and as you say, we can always do a DMP. Will just have to wait and see xx


Reply author: MelanieGiles
Replied on: 19 October 2009 22:08:00
Message:

As I have answered on your other post, Sue's words of wisdom serve as a warning observation rather than a real concern - but our policy is to make our clients aware of all of the pitfalls in order to be well incormed on the day of the meeting.


Reply author: rainbowofhope
Replied on: 20 October 2009 07:02:56
Message:

She did say that to be fair Mel - she said it may not be picked up on, but just wanted to make me aware it may well be an issue. It is just a case of wait and see - thanks again for your advice.


Reply author: Pennyless
Replied on: 20 October 2009 15:09:24
Message:

Hope it works out for you Rainbow.


Reply author: Cath
Replied on: 20 October 2009 15:57:56
Message:

I'm still no further on, I'm stuck in limbo at the mo!


Reply author: Pennyless
Replied on: 20 October 2009 16:50:31
Message:

Must be so frustrating Cath...been weeks now hasn't it....for one document is ridiculous....hope you get it sorted soon.


Reply author: Cath
Replied on: 22 October 2009 08:25:42
Message:

It's arrived!!!!!!


Reply author: MelanieGiles
Replied on: 22 October 2009 11:05:18
Message:

Hurrah - another forum milestone!! Get it down to me asap and we can arrange our meeting.


Reply author: lesley_
Replied on: 22 October 2009 13:52:32
Message:

Great news it's arrived, won't be long now Cath.x


Reply author: rainbowofhope
Replied on: 22 October 2009 18:26:31
Message:

Great news Cath - let us know how you get on x


Reply author: soashamed70
Replied on: 22 October 2009 18:44:33
Message:

Fab news!


Reply author: Helen
Replied on: 22 October 2009 18:45:54
Message:

Thats good news Cath

it wont be long before you're sorted now hun

xx


Reply author: Cath
Replied on: 22 October 2009 19:43:11
Message:

Fingers crossed.....Melanie, Angela already has the illusive doument, maybe our hefty file has been under you scrutiny today!


Reply author: MelanieGiles
Replied on: 22 October 2009 19:46:10
Message:

I won't see it until my guys have prepared the proposal Cath, but Angela did tell me that she had got hold of the document and we are actually thinking of framing in and hanging it on the wall in our foyer (only joking!!)


Reply author: kallis3
Replied on: 22 October 2009 19:46:17
Message:

Great news Cath!

Shouldn't be long now.


Reply author: Cath
Replied on: 22 October 2009 20:08:07
Message:

Lol, I think I may frame it, it's been the bain of mine and Angela's days.....thank goodness Ang has the tenacity of jack russel in the nicest possible way!


Reply author: rainbowofhope
Replied on: 22 October 2009 20:15:47
Message:

Think I may be the same Cath - there's still some outstanding documents I need to get together. I thought I'd sent everything needed to VB, but obviously there's more indepth information needed by Sue - onward and upward though, I can only try!! x


Reply author: Cath
Replied on: 22 October 2009 20:20:20
Message:

Best to have the upper hand! It may take longer but it'll be worth it in the long run! x


Reply author: rainbowofhope
Replied on: 22 October 2009 20:23:34
Message:

That's what I keep telling myself Cath! Thought chasing people for paperwork was well behind me, but never mind - all these postal strikes are not going to help though! Apparently there's another 3 next week. I'll just have to try and not worry too much xx


Reply author: Pennyless
Replied on: 22 October 2009 20:26:29
Message:

Cath thats BRILLIANT NEWS......AT LAST!!!!!!!!!!!!!!!!

Rainbowofhope hope your documents dont take as long as Caths to get hold of. Agree the strike wont help but fingerscrossed for you.


Reply author: kallis3
Replied on: 22 October 2009 20:27:11
Message:

You will all get there! Might take a bit longer because of the PO, but it will be worth it in the end.


Reply author: rainbowofhope
Replied on: 22 October 2009 20:32:25
Message:

Thanks Pennyless & Kallis - we will all get there in the end, and that's the main thing. Upside to the strike, of course, is that I won't get any creditor letters!! Aren't silver linings great? x


Reply author: Pennyless
Replied on: 22 October 2009 20:36:15
Message:

Rainbowofhope lol....yep definately a silver lining.


Reply author: rainbowofhope
Replied on: 22 October 2009 20:38:35
Message:

By the way Pennyless, only a week to go til your creditor meeting!! I really hope it works out for you x


Reply author: Cath
Replied on: 22 October 2009 20:41:44
Message:

Cheers Penny...we're getting there! How long did it take for your proposal to be drafted after all your info was in hand? The next step of impatience....just thinking ahead about my diary and my trip to Cardiff, although it's school hols next week lol!


Reply author: Pennyless
Replied on: 22 October 2009 20:54:30
Message:

Cath once all my documentation was complete it took about a week or so after before I spoke to Tom and he drafted my proposal. A couple of days later I spoke to Melanie, and within 2 days had signed my proposal and returned it. Less than 24 hrs later I got my creditors date. As long as theres no Rugby on the TV I would envisage Melanie will have your meeting/proposal done in double quick time lol.

Yep Rainbow 1 week tommorrow and its make or break time. Fingers crossed me and mine get a break at last......been such a terrible couple of years and this could be a massive load off our minds.


Reply author: Cath
Replied on: 22 October 2009 20:59:08
Message:

Yes, my fingers and toes will be all crossed for you next Friday, I'll be at work so won't find out til I get home :(


Reply author: Pennyless
Replied on: 22 October 2009 21:12:12
Message:

Thanks Cath the more fingers and toes that can be crossed the better lol.


Reply author: rainbowofhope
Replied on: 22 October 2009 22:43:39
Message:

I'll have everything crossed for you too Penny x


Reply author: Pennyless
Replied on: 23 October 2009 11:06:47
Message:

Well just had a call from Halifax Credit Card collection. They did note I had made a previous "token" payment which meant I was in "arrears" and simply asked if I was experiencing any difficulties. When I explained I was going through the IVA process they simply said they would put a hold on my account and requested I keep them informed of proceedings.

Although it was no problem receiving the call I still find it strange that after at least 3 letters to some of these Companies (Initial notification from myself of intention to seek IVA/Letter from IVA Company stating they were dealing on my behalf and then the actual "Proposal" being sent out), they remain unaware of my situation, after all surely the correspondance should eventually make it onto their systems.

In any event the "call" was simple and straight forward and the woman I spoke to was very nice.


Reply author: dixie002
Replied on: 23 October 2009 13:57:25
Message:

Hi - this will happen, happened to us until around 3 months into our Iva so dont be surprised. I must say tho' that halifax were really professional much more so than our other creditors and they did actually vote - and thier vote was yes.


Reply author: kallis3
Replied on: 23 October 2009 16:04:56
Message:

The call centres are usually the last to know about these things. They are just given debtors details and told to ring them to demand payment.

Halifax voted yes for us as well.


Reply author: Nicinamess
Replied on: 23 October 2009 16:32:41
Message:

Some creditors are very sympathetic and put a stop to calls (John Lewis) and others call on a daily basis and demand payment. I ask if there are no notes on my file, they say that there are but they still need to call. My IVA company said maybe they are on commission to gain payment?

Nic x


Reply author: kallis3
Replied on: 23 October 2009 16:58:24
Message:

Call centres work on commission - for each person they can bully into making a payment, they get paid.


Reply author: Cath
Replied on: 23 October 2009 18:06:39
Message:

Don't let them get you down...I was determined to deal with the calls initially but I have unplugged the house phone and ignore numbers I don't know on the mobile now.


I had to speak to MBNA the other day as they rang me at work so I callled them back later, very bullying, telling me that if I didn't make payment they would say no to the IVA and sell the debt to doorstep colletors, blah blah blah.


Reply author: kallis3
Replied on: 23 October 2009 18:57:29
Message:

They are nothing but bullies.

Even if they do get debt collectors involved - they may not call and they are usually very polite when they do and you explain the situation to them.


Reply author: lesley_
Replied on: 24 October 2009 01:53:34
Message:

You hear so many stories about creditors and their varying methods of debt collection, whatever suits you I always say, I personally paid none but spoke to all, I do agree it's an awful time but once you get acceptance within a few months these call will cease and the relief this brings will be immense and it hopefully won't be long for you now.


Reply author: kallis3
Replied on: 24 October 2009 08:41:35
Message:

I paid none and spoke to none until the day my IVA was accepted.

I did write to all of them though - not that they took any notice of what was in them!image


Reply author: Nicinamess
Replied on: 24 October 2009 09:50:16
Message:

Sounds like MBNA have a reputation. They were the only ones to 'Demand' that I make a payment (their words). It is horrible speaking to them but in my mind, I remember that I am sorting this out and the person on the end of the line has a crap job. If they are happy to bully people in trouble, they actually have worse problems than any of us.

Nic x


Reply author: Pennyless
Replied on: 24 October 2009 10:00:47
Message:

Nicinamess I spoke to MBNA at the outset of my IVA process on 12 Sep 09 and as you will see had a far differant experience with them. Since the 12th Sep they did not contact me until late last week when they sent me a letter to tell me if I do not make proper payment my credit could be affected.


From 12 Sep 09

"Just received correspondance from MBNA on behalf of my Virgin Credit Card stating they were aware of my seeking an IVA and wished to speak to me.

I telephoned the MBNA Insolvency Team and have to admit they were much more understanding and sympathetic to my situation then I expected would be the case. They also advised that in my current situation they would be more inclined to "support" my IVA application then to look at a DMP or other plan that they may be able to offer.

They also advised that it may be best for me to speak to ALL my creditors, explain the situation and see how they felt in regards to an IVA proposal, as although not cast in stone, it would give me a general idea on how the creditors would be voting.

All in all a very good conversation and all they expected is that I keep them up to speed with how my proposal is processing."


Reply author: kallis3
Replied on: 24 October 2009 10:15:42
Message:

I most certainly could not work in a creditors call centre and phone people up and bully them.

I get so annoyed when these firms say they will put your account on hold, and then they keep phoning!

It's the frequency of the calls as well - dozens every day.


Reply author: kallis3
Replied on: 24 October 2009 10:15:47
Message:

I most certainly could not work in a creditors call centre and phone people up and bully them.

I get so annoyed when these firms say they will put your account on hold, and then they keep phoning!

It's the frequency of the calls as well - dozens every day.


Reply author: Pennyless
Replied on: 24 October 2009 10:27:06
Message:

Agreed Kallis...nor me but then a jobs a job I suppose and in these times some cannot be too picky.

I think some of these Companies are so big the left hand doesn't know what the right hand is doing at times, therefore they ring several times or ask you whats happening, even after you have told them by phone or correspondance.

Then again how hard can it be to update a file on a PC?


Reply author: lesley_
Replied on: 24 October 2009 10:29:53
Message:

I never say never as in this day and age I might be grateful of a job, even one that I feel uncomfortable doing, I'm sure they work to script and basically they're doing they're job.

Mind I'm sure some get more pleasure out of it than others as there are always some bullies in the workplace.

I sometimes take delight in saying to a student who has probably been very awkward throughout the course, I'm sorry on this occasion it wasn't a pass and can be a very mean marker when required! he he!


Reply author: Nicinamess
Replied on: 24 October 2009 10:30:41
Message:

Thanks Pennyless, good to know.

I was extremely firm last week and they have left me alone, they are going to call this week to find out if I have my creditors date (6th Nov), I would have thought that they would be informed but the call centres seem to be out of the loop. Percentage wise MBNA are owed the smallest amount by me so I'm hoping that whichever way they go won't effect the 75% too much. My bulk is with Santander and my IP has said that they don't tend to bother voting. We shall see.

I had a thought that if I were to pass a fellow Frugal Friend in the street, I would recognise them as we all have our fingers and toes crossed!

Nic x

Nic x


Reply author: kallis3
Replied on: 24 October 2009 11:20:07
Message:

Lesley - what are you like!image

I couldn't do that job even if I was desperate. I couldn't trade on other people's misery.

Having seen the Channel 4 programme from a few months ago, most of them delight in sounding all sympathetic on the phone and then laughing their socks off once they have finished.

You have to have a very cruel streak to be able to do that.


Reply author: Cath
Replied on: 24 October 2009 17:42:57
Message:

Nic, my MBNA debt is about 4%, Santander about 23% and the dreaded Northern Rock 25% the next in line are Nationwide circa 10%, RBS 10%, Egg 12.5% and ruddy Barclaycard 1.5%! There are others which are quite small % wise.


Reply author: Nicinamess
Replied on: 24 October 2009 17:50:30
Message:

My total debt is about 44k. Santander (combined loan, overdraft and credit card- they buy everything!) is around 31k of that, MBNA is 3.5k and John Lewis is just under 9k. I have to sit down and work out the percentages but you can see where most of my eggs are.

Nic x


Reply author: lesley_
Replied on: 25 October 2009 17:13:21
Message:

I do have a deeply hidden cruel streak, when I want!


Reply author: kallis3
Replied on: 25 October 2009 19:15:32
Message:

I can be just as stroppy on the phone to a creditor as they can to me, but I couldn't be like that the other way round.




Reply author: Nicinamess
Replied on: 25 October 2009 19:25:16
Message:

Lesley, are you really that cruel?!

I bet you'd have a big box of tissues on your box and would sympathise really.

I know I couldn't do call centre work like that, I'd rather do anything but! Within reason, wink wink, nudge nudge!!

Nic x


Reply author: Pennyless
Replied on: 27 October 2009 09:03:39
Message:

Hey Cath any update now that you have all your docs?...When you meeting Melanie?

Only 3 more sleeps before the big day for me.


Reply author: Skippy
Replied on: 27 October 2009 09:08:38
Message:

I've always said I couldn't do that sort of job, but if it was the difference between keeping a roof over my head or losing my home I would do it.

I don't think I could be as nasty as some of them though!


Reply author: Nicinamess
Replied on: 27 October 2009 09:09:04
Message:

Good luck Pennyless x


Reply author: kallis3
Replied on: 27 October 2009 09:25:14
Message:

I could work in a call centre, but not a bullying creditor one.

To be honest, I would rather collect the trolley's at Tesco!


Reply author: Cath
Replied on: 27 October 2009 09:38:54
Message:

No, nothing as yet Penny, it's a gruelling wait, what with umpteem phonecalls a day from certain creditors. I just can't wait for the next bit of the process to get here. I was up til 1am last night just mooching about. Feel a bit rubbish at the mo!

Going for a picnic in the park today with a friend and our kids, hope the weather cheers up a bit.

Not long now Penny....everything is still corssed for you. x


Reply author: Skippy
Replied on: 27 October 2009 09:41:44
Message:

Now there's a job Jan - I could find out which cars belong to the other collectors and make sure I dent them the same way mine has been dented!

It amazes me how many trolleys they seem to think they can control in one go - if they weren't so lazy they might do less damage!


Reply author: kallis3
Replied on: 27 October 2009 09:44:40
Message:

I think it must be a competition as to who can collect the most!

My uncle always used to park his car away from others when he went shopping. He parked it in the middle of B&Q car park, miles away from any other cars and when he came back there was a huge dent because the trolleys had banged into it!

You're safer parking next to another car I think!


Reply author: Pennyless
Replied on: 27 October 2009 15:28:47
Message:

Kallis I could park on the moon and someone would park a 4 x 4 and a couple of trollies next to my motor!

Cath - chin-up, I know how you feel. I went through same down days in between completion of documents and actual proposal, but once the proposal was completed I picked up again. The whole IVA process is a "pik n mix" of emotions and we just have to keep hoping that the end result is what we all desire.

Friday will be a life-changing day for me...either in a good way or a bad way and I feel so powerless in my own future....but hey with Melanie and the team I think the odds are in our favour.

Good luck.


Reply author: danieln
Replied on: 27 October 2009 15:54:00
Message:

What a great post thanks for everyones input on this!

Last Friday I got the list of my paperwork over to the team so am just waiting now, been very nervous as keep thinking what if this, what if that! I will be glad when all this is over... Cant believe I got myself (and my wife) into this stupid mess but thank goodness for some brilliant people who manage to keep me and many others going... image

Good luck pennyless, will be thinking of you on Friday!

Daniel


Reply author: Max
Replied on: 27 October 2009 15:57:25
Message:

Pennyless - I was just the same - I think I must have driven Melanie to the brink of insanity! However, two people on here, Jan (Kallis) and Skippy used to come to my rescue three or four times aday! I am looking forward to reading your possitive post on Friday!!! Please don't forget to post it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Reply author: Max
Replied on: 27 October 2009 16:04:34
Message:

Good luck yo you too Daniel!


Reply author: Pennyless
Replied on: 27 October 2009 16:49:18
Message:

Thanks Daniel and good luck to you also. As you say Elv one thing we are never short of in this process is support and its great to see "Max" on a regular basis again.

Will certainly update on fri either way.


Reply author: Skippy
Replied on: 27 October 2009 17:40:00
Message:

Good luck on Friday Pennyless, and good luck with your proposal Daniel x


Reply author: mikepapa
Replied on: 27 October 2009 18:49:37
Message:

Good luck from us also Pennyless,, I'm sure all will be ok.


Reply author: lesley_
Replied on: 27 October 2009 18:54:02
Message:

and I know I've said it before Pennyless good luck for Friday and to you Daniel.


Reply author: kallis3
Replied on: 27 October 2009 22:54:04
Message:

Good luck to both of you.


Reply author: Cath
Replied on: 28 October 2009 11:44:07
Message:

It's going to be the week after next before someone calls me about my figures :(


Reply author: kallis3
Replied on: 28 October 2009 11:55:37
Message:

You'll get there Cath!


Reply author: Cath
Replied on: 28 October 2009 11:56:45
Message:

I know but I'm looking at least another 5 weeks now, it's so depressing.


Reply author: kallis3
Replied on: 28 October 2009 11:58:27
Message:

I can understand that. Do you know why it is going to take that long? Have you had your face to face meeting yet?


Reply author: danieln
Replied on: 28 October 2009 12:01:28
Message:

Cath how long ago have you returned your paperwork, Just wonder if I am in the same boat as you time wise?


Reply author: Cath
Replied on: 28 October 2009 12:12:52
Message:

No, I haven't had the f2f, I assume that will come after the proposal is drafted but as I'm not due to be contacted until the week after next, it will be after that. I didn't aks why so long cos I was welling up! I assume it must be volume of work.

Danieln, I had to wait a long time for my last piece of documentation so all my paperwork was all in last Thursday.

I originally started the process mid-August but I changed IP firm and started again on 16th September.


Reply author: danieln
Replied on: 28 October 2009 12:18:49
Message:

sorry to hear that :(

Which company are you with now?


Reply author: kallis3
Replied on: 28 October 2009 12:27:39
Message:

It possibly is volume of work and because you had to wait so long for that documentation.

Self employed do take a little longer I think. Rest assured though that Mel and her team will be doing their best to get it sorted as soon as possible.


Reply author: Cath
Replied on: 28 October 2009 12:27:56
Message:

IVA Advice Bureau


Reply author: danieln
Replied on: 28 October 2009 12:34:07
Message:

Ah same here, I also got my lat piece of paperwork over on Friday so probably on a very similar timescale...


Reply author: Max
Replied on: 28 October 2009 12:35:59
Message:

You two have certainly gone to a first rate IP - if anyone can help you Melanie can.


Reply author: Pennyless
Replied on: 28 October 2009 12:38:52
Message:

Cath worry not. As you seen from my experience, once all the paperwork is completed then an appointment is made with Tom or another to do your proposal. Mine too was processed not the exact following week but the week after that...I think its just the process that the Company have. But from there it only took a week between that and the creditors meeting being arranged.

You'll get there Cath. I also felt a little deflated after getting all my paperwork together and having to wait a week or so later for my interview for the proposal, but I suppose I'm just impatient and like others want everything done yesterday lol.

I'm sure the voice of reason (Melanie) will be on later to reassure you Cath...keep your chin-up.

My post from 30 Sep 09...notice the similarity with your post today Cath:

Onwards and upwards then. Thankfully I contacted Angela today and have been given a meeting with Thomas at the "proposal team" on Thu 8 Oct 09.

Does anyone have any idea how long it takes after making first contact with a "proposer" until the proposal is complete?

At the moment everyday seems like a lifetime and the two weeks from getting my documentation completed to actually speaking to a "proposer" is not making life much easier.....but I suppose these things cannot be rushed.
[/i]


Reply author: kallis3
Replied on: 28 October 2009 12:51:35
Message:

You're on the right road Cath, it will be sorted soon and you couldn't be with a better team.


Reply author: Pennyless
Replied on: 28 October 2009 12:58:20
Message:

By the way Cath even though my meeting is on fri, I even rang Tom today to make sure we were still on track...in fact its the second time I've asked him the same thing since last fri and got exactly the same reply. How impatient am I lol?


Reply author: danieln
Replied on: 28 October 2009 13:03:05
Message:

I think probably for most of us after years of trying to ignore the problems and just stressing about it when we finally do deal with it the final days/weeks can seem very very long!

I am trying not to panic too much, but I know exactly how Cath is feeling...

image


Reply author: Cath
Replied on: 28 October 2009 13:03:35
Message:

How similar the emotions are Penny. I guess I'll just have to sit and wait!


Reply author: Pennyless
Replied on: 28 October 2009 13:16:02
Message:

Dont worry Cath it'll all fall into place.


Reply author: rainbowofhope
Replied on: 28 October 2009 18:00:14
Message:

Cath - if it makes you feel any better..I thought I was pretty much at the same stage as Pennyless - sent all my docs to VB by the end of Sept, they then sent them to Melanie. I waited until around 9 October before I got a phone call and got booked in for "phone interview" for 19 October (which I thought was pre-proposal)- it wasn't, it was just my initial chat with Sue. Then, I got my welcome pack last Thursday, which asked for even more docs I don't have already. There's about 4 more pieces of paperwork I need before my proposal can be drafted - and with the postal strikes, heaven only knows when that will be!! So you're much closer than you think hun - chin up, we're all here for you xx


Reply author: danieln
Replied on: 28 October 2009 18:06:13
Message:

Hi Rainbow,

Do you have the ability to email them over it might speed things up a little perhaps until the hard copies are received?

Also when you say initial chat was this the first time you had spoken to someone on the phone?

daniel


Reply author: Cath
Replied on: 28 October 2009 18:18:43
Message:

I had my initial chat with Tina the day after I submitted my info online.

I guess in your case Rainbow as you had already sent your pack over, Sue (IP) had looked it all over and noted that additional info was required for the best proposal to be drafted....I haven't had an IP meeting yet.

I know it's a pain and a worry for us all sat here waiting, but the professionals are doing the best job for us and the best jobs take time to complete.

If I sat at work and just did a shoddy job, I'd never see any clients again, they would never come back. Patience is a virtue, difficult as it may be......but it will work out in the end...I hope lol! xxx


Reply author: rainbowofhope
Replied on: 28 October 2009 20:12:09
Message:

Hi Daniel - yes, was just thinking that tonight - I will try and e-mail stuff over - the problem is receiving it in the first place!! When I say my initial chat, that was with the IVA Bureau - I contacted Vincent Bond at first and had many discussions with them in deciding what to do - they then sent my information over to Mel. By the way, I am not complaining in any shape or form - I knew from the outset this would not be a quick process, and am quite prepared, even though some days I wish it was just sorted. I know Sue, Mel and the team are doing their very best for me. You'll be all sorted by Christmas Cath, don't worry x


Reply author: MelanieGiles
Replied on: 29 October 2009 00:14:25
Message:

Guys - I thought I had better post a few points about my firm's case handling process:-

1 A file is never a complete file until all documentation has been received. It is not until that point that I can really assess the case properly to confirm suitability.

2 Once we have a completed file, we need to ensure that all creditor balances have been properly audited. For this we are in the hands of creditors, and while you may have sent your paperwork in early, creditors often take a couple of weeks to provide confirmations. My team are constantly chasing things like this up.

3 Once we are in position to draft the proposal, it is scheduled into the diary of one of my three colleagues who work on that side. We have a rolling three week period, and most cases are processed and clients interviewed within that timescale. Shortly after this time you will have your final meeting with either Sue or myself.

4 We are legally obliged to give 17 days notice of the meeting of creditors, once signed proposals have been issued.

These processes are in place in my firm for one particular reason. I have a failure rate of less than 10% compared to an industry rate of nearly 40%. The work that my team put in to our cases at the front end, in determining suitability, affordabilty and accuracy will pay dividends to you all in the long run, and you will have a far better understanding of the procedures.

Cath - I am suprised that you have been informed of a five week wait - I would expect to be seeing you in a couple of weeks to be honest. I am on holiday for the next week, and out of the office for a great part of the week following, but I will make enquiries tomorrow to see if we can slot you in a little earlier.

You may find firms that will promise you that they can turn around your proposals in a matter of days - indeed I have done this myself on occasion if there has been a desparate need to avoid a bankruptcy or charging order for instance - but trust me when I say that quality time invested now, is worth it in the long run. And just to clarify that the timescale has nothing to do with being too busy, having too much work or not enough staff.

Clearly clients who have been referred to us by other companies, may experience a longer delay if we need to request additional documentation than that which has been provided.

Hope this helps you to understand things from the IP angle - and if any of you have any particular concerns may I ask that you contact me or Sue directly.


Reply author: Pennyless
Replied on: 29 October 2009 06:33:06
Message:

Melanie thanks for that. To be honest we ALL know this process takes time but in the same vein we all want it done like yesterday lol and I for one doubt that will ever change.

Melanie one things for sure...I have read these forums from back to front and also sideways and doubt I will ever have the need to take you up on your offer of speaking to you about any concerns. The proposal I received was clear and consice and whilst noting others "concerns" on these boards I have yet to read one that has not already been averted in my case by your team. Considering I made my decision after one call with Tina I consider myself very lucky that you agreed to become my IP....as time has gone by and having read some of the "horror" stories/regrets some have with their IP's, it looks like it could be the best decision I have made in the last few years.

Regards

Pennyless.


Reply author: Pennyless
Replied on: 29 October 2009 06:42:44
Message:

Cath and Rainbowofhope I'm sure we will all have our IVA's in place well before XMAS, which is actually what we all hoped for when we started weeks ago....seems so long ago now but in reality its' only been a short time lol. I think we have all made massive strides since first starting the IVA process and we all get down days, but from my own point of view they have been few and far between and nothing that these forums could'nt help with. Chins-up!


Reply author: lesley_
Replied on: 29 October 2009 07:56:44
Message:

All good things come to those who wait....Melanie is thorough I can vouch for that personally...my IVA through various issues took from October until February 8th to complete, in October an IVA was a no go area for me, made my 22nd payment yesterday, after a first time almost 100% acceptance from my creditors. You'll all be there in due course and believe me if you're with Melanie it'll be a smooth journey for you x


Reply author: danieln
Replied on: 29 October 2009 09:06:22
Message:

I think this would be the best start to the new year for all pennyless!

image


Reply author: Skippy
Replied on: 29 October 2009 09:19:17
Message:

Good luck to all of you, I'm sure you'll be fine and celebrating the New Year knowing you're on your way to being debt free!


Reply author: Pennyless
Replied on: 29 October 2009 10:08:40
Message:

Agreed Skippy......roll on tommorrow!


Reply author: Cath
Replied on: 29 October 2009 10:27:50
Message:

Just caught up with this. Melanie, Angela didn't tell me 5 weeks, it will be almost 3 weeks since all my docs were in until someone calls me to go over the figures pre-proposal and then I added another 2 for f2f and creditors meeting. From your information above then that fits in with your proceedures.

Impatience is not a virtue and by no means am I complaining I just want to see an end date.

Good luk for tomorrow Penny.


Reply author: MelanieGiles
Replied on: 29 October 2009 14:18:53
Message:

We now have a meeting booked I understand. Don't forget to bring your box of tricks!!!


Reply author: danieln
Replied on: 29 October 2009 14:28:08
Message:

Great news for you image

Melanie, have you seen any of my paperwork on your travels, sorry to ask just interested?

thanks

daniel


Reply author: MelanieGiles
Replied on: 29 October 2009 14:29:56
Message:

Danieln

I cannot tie up forum names to client names - so if you want to send me your details we can chat privately via e-mail.


Reply author: danieln
Replied on: 29 October 2009 14:43:38
Message:

Hi Melanie,

Thank you I have emailed you, I hope I had the correct address...

thanks

daniel


Reply author: MelanieGiles
Replied on: 29 October 2009 15:06:02
Message:

Yes - you will shortly get an e-mail from my colleague Sue Pervoe confirming the date of your review meeting - should not be more than a week or so from now.


Reply author: danieln
Replied on: 29 October 2009 15:18:03
Message:

Excellent thanks for getting back to me on this so promptly.

daniel


Reply author: Pennyless
Replied on: 29 October 2009 18:19:23
Message:

Well less than 24hrs and its decision time for my creditors on whether they will allow me the chance to get my life back together. Want tommorrow to come quickly but on the other hand today seems like my last supper. Will be sat with toes and fingers crossed securely in the morning and hope that they go easy on me but its just a totally unknown.

In any event, with the help of people on these boards and my IP, Melanie Giles, I feel I have done the maximum possible to show my creditors that I want to repay them and I suppose thats all we can do.

Thanks for the help all and I will post the decision as soon as I get it.

Regards

Pennyless.


Reply author: Max
Replied on: 29 October 2009 19:44:22
Message:

Good luck for tomorrow Pennyless


Reply author: Cath
Replied on: 29 October 2009 19:56:35
Message:

What time is your meeeting tomorrow Penny? I will be thinking of you.

I have my f2f booked with Mel for 18th November...yay, another step in the right direction, still seems like a decade away but I have a date and your holiday is well deserved!


Reply author: Nicinamess
Replied on: 29 October 2009 19:57:24
Message:

Best of luck for tomorrow Pennyless.

I'll be thinking of you,

Nic xx


Reply author: kallis3
Replied on: 29 October 2009 20:03:17
Message:

Good luck for tomorrow - I'm sure it will all be ok.


Reply author: Pennyless
Replied on: 29 October 2009 20:55:33
Message:

Cath great to see you have a date...my meeting is in the morning. Thanks for the support all, it really means a lot to us.

PS: No Rugby tommorrow so will hopefully have Melanies full attention at the meeting lolimage


Reply author: Helen
Replied on: 29 October 2009 21:01:20
Message:

The very best of luck from me too penny, everything will be crossed and I'll check back in when I get up in the evening to see the result.

xx


Reply author: lesley_
Replied on: 29 October 2009 21:12:21
Message:

Good luck for tomorrow Pennyless, only in work until 12.30, dentist at 2pm but I'll be checking periodically throughout the day.


Reply author: kallis3
Replied on: 29 October 2009 21:27:16
Message:

I won't be able to check until after 4. At work until shortly after three and then doctors at 3.50. Depends on what time I get home. I shall be looking out for a positive post though!


Reply author: Max
Replied on: 29 October 2009 21:29:05
Message:

Jan, doctors!! I hope you are ok - you are supposed to be taking care of yourself!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Reply author: rainbowofhope
Replied on: 29 October 2009 21:31:39
Message:

Mel - thanks for clarifying things. I wouldn't want you to think I was being critical - I fully appreciate the implications and the attention to detail needed, and am quite relaxed at the moment - I know Sue will help us get sorted in the end.
Pennyless - I wish you all the luck in the world tomorrow - please post as soon as you know (though I'll be in work all day) - I'm sure your creditors will look favourably on your proposal - good luck xx
Cath - glad you've got a date to look forward to - won't be long now x


Reply author: soashamed70
Replied on: 29 October 2009 21:46:35
Message:

Best of luck Pennyless - I will be thinking of you! Sending you LOADS of positive vibes. You are in the best hands

xx


Reply author: kallis3
Replied on: 29 October 2009 21:53:33
Message:

No worries David - it's only because of a letter from the hospital after my gastric bypass suggesting that I drop one of my blood pressure tablets and get referred for plastic surgery! I'm fine!


Reply author: In 2 Deep
Replied on: 29 October 2009 21:53:34
Message:

Good luck Pennyless for tomorrow, and lets hope for a positive result to finish the week off.


Reply author: kallis3
Replied on: 29 October 2009 21:55:27
Message:

If you add me as a Frugal Friend David, then you will be able to contact me off forum.


Reply author: 3princesses
Replied on: 29 October 2009 22:01:25
Message:

Good luck for tomorrow Pennyless I hope everything goes great for you :~)


Reply author: MelanieGiles
Replied on: 29 October 2009 23:27:44
Message:

We have everything crossed in the office for Pennyless - and I will not be distracted by watching sport tomorrow. Can't believe that I have booked leave which overlaps with Wales v New Zealand in Cardiff and the first England v South Africa cricket match! Bad planning or what!

I need to be on my toes tomorrow, as we actually had a creditor turn up to a creditors meeting today. What a shock, as that hasn't happened to me in about 8 years!


Reply author: rhondda2
Replied on: 30 October 2009 00:41:25
Message:

Good luck Pennyless,hope it goes well.I bet u had a shock Melanie with ceditor showing up


Reply author: MelanieGiles
Replied on: 30 October 2009 00:53:59
Message:

I was gobsmacked!!


Reply author: Pennyless
Replied on: 30 October 2009 05:35:22
Message:

Morning all....well todays the day...thank you soooooooo much for all your kind words, it really is quite overwhelming to have all this support.

Melanie I hope you have the "choccy hob-nobs" ready just in case any of my creditors turn-up...they'll be the ones in the hired 52 seater bus.

Hope everyone has a good day today.




Reply author: lesley_
Replied on: 30 October 2009 07:50:20
Message:

Thinking of you Pennyless as I go off to work, all the best once again. x


Reply author: Helen
Replied on: 30 October 2009 08:39:57
Message:

Hi Penny, hope you managed to get some sleep last night.

The very best of luck for today hunni.

xx


Reply author: Max
Replied on: 30 October 2009 08:45:54
Message:

Thinking of you Pennyless.


Reply author: danieln
Replied on: 30 October 2009 09:07:53
Message:

And again good luck, let us all know how you get on!!

Daniel


Reply author: Pennyless
Replied on: 30 October 2009 09:12:57
Message:

Ladyh I didn't get that much sleep to tell the truth...woke up several times......meeting at 10.30 and keep checking the phone to make sure it still works...but have mobile as back-up!

Nice to see Max this morning....he always makes me chuckle!

Thx Danieln.


Reply author: mikepapa
Replied on: 30 October 2009 10:11:17
Message:

hoping all goes well for you this morning. fingers & toes crossed 2


Reply author: Pennyless
Replied on: 30 October 2009 11:58:26
Message:

Well I've had good and not so good news.

First of all my creditors wanted an extra 45 which isn't too much of a problem as I can find it someway.

Secondly some of my creditors have noticed that I have claimed 160.00 for Life and Critical Ilness cover and requested that I get 3 quotes as they consider this excessive. Unfortunately my proposal did not specify that this was made up of 90.00 Life and Critical Ilness Cover, 28.00 for my Wifes Redundancy Cover, 12.00 for my Redundancy Cover and a further 28.00 for other life and loss of mobility cover. They subsequently request that I get further quotes and if I dont they wont accept.

I have done a couple of quotes this morning and the cheapeast life/critical insurance is 90.00, my Redundancy Cover would cost more and my ex-service policy XPAX is not available at such a level elsewhere so I really dont know what to do.

Added to this Tom is going to try and speak to my creditors, however, is on a half day today, therefore I dont know what is going to happen or when/if this will be sorted.

I really wanted to accept their proposal but feel I cant further jeapordize my family by removing the safety net that my insurance affords, added to the fact that my mortgage is now interest only and therefore if something happened I would have no cover to pay off my mortgage whatsoever.

This really is a nightmare and I hope the creditors will realise the breakdown of my 160.00 and see that it is not excessive. What a day!

I really dont know what to do or how this will pan out and just can't think straight at the moment. So close and yet so far!


Reply author: Max
Replied on: 30 October 2009 12:11:24
Message:

Very sorry you have had a set back - at least you are able to find the 45 if necessary - I hope you can manage to get the policies sorted out - hopefully you will be able to post better news next week


Reply author: Nicinamess
Replied on: 30 October 2009 12:25:19
Message:

Sorry to hear that Pennyless. I'm sure it will be sorted out and you'll get your result soon.

Nic xx


Reply author: Skippy
Replied on: 30 October 2009 12:29:12
Message:

Sorry to hear that Pennyless, let's hope that Tom can get things sorted out for you next week x


Reply author: Pennyless
Replied on: 30 October 2009 13:00:08
Message:

IVA ACCEPTED

Well have spoken to Tom again and I will have to still get quotes for my creditors for my insurances, however, the IVA is accepted. Thanks to all for your kind words and advice and I just need to get my head round things, however, not sure how I feel at the moment...its a little bitter sweet.

It's great news and I can now plan a future but its difficult to take-in the enormity of the mess I got myself into and that I now actually have a way to sort it all out.

A little lost for words at the moment.


Reply author: Max
Replied on: 30 October 2009 13:04:36
Message:

THANK GOODNESS FOR THAT!!! Many congratulations to you and to Tom - I am so very, very pleased for you - all the very best for the future.


Reply author: Pennyless
Replied on: 30 October 2009 13:09:33
Message:

Thanks elv.....Northern Rock asked for an extra year but thankfully were out-voted so silver-lining and all that.


Reply author: Max
Replied on: 30 October 2009 13:14:16
Message:

I really am pleased for you - now you know why I ALWAYS suggest people go to Melanie - they work kij=ke the clappers for their clients - write a good review on the review page!!


Reply author: Max
Replied on: 30 October 2009 13:16:26
Message:

The odd word should read "like" - sorry


Reply author: lull65
Replied on: 30 October 2009 13:17:06
Message:

Fantastic news and congratulations. I have been following your thread from your first post and really pleased for you.

Helen


Reply author: Pennyless
Replied on: 30 October 2009 13:27:27
Message:

Thanks elv/lull65...really couldn't of done it without you and other posters and of coure Melanies team.


Reply author: danieln
Replied on: 30 October 2009 13:31:07
Message:

Well done pennyless this is great news!


Reply author: Nicinamess
Replied on: 30 October 2009 13:31:13
Message:

Fantastic news!!!

I'm really happy for you, this is the first day on the road to freedom!

Love, Nic xx


Reply author: Pennyless
Replied on: 30 October 2009 13:43:24
Message:

Thanks dan/Nic will be feeling a lot better when I see you and others that have came through this with me get on your own road to debt freedom.

Having been through the IVA application process and even just getting to the start line I realise how much and so important an IVA is to me and others and I really want to see others getting theirs accepted before I can truly feel satisfied.

Good luck and a heartfelt thanks to you all. We all have our own trials and tribulations and I cant put into words how much people I dont even know on these threads mean to me....seems whatever our troubles everyone finds someway to help another person and that truly is priceless.


Reply author: lesley_
Replied on: 30 October 2009 14:04:27
Message:

Fab news. Mel and her team work tirelessly to get the right result. X


Reply author: carrie
Replied on: 30 October 2009 14:42:43
Message:

That's great news. imageAnother great result for Mel. What is your dividend?


Reply author: Skippy
Replied on: 30 October 2009 14:46:15
Message:

That's brilliant news Pennyless - I hope you're going to stick around x


Reply author: Helen
Replied on: 30 October 2009 15:58:21
Message:

What wonderful news.

Pennyless I'm so pleased that its a yes (after I'd read your earlier post) and many congratualtions to you and Tom and of course Mels team for getting this through for you.

Today is the first day of the rest of your life.

xx


Reply author: In 2 Deep
Replied on: 30 October 2009 16:44:42
Message:

Excellent news Pennyless - no doubt a beer or 3 tonight then.


Reply author: kallis3
Replied on: 30 October 2009 17:20:37
Message:

Great news Pennyless, a good result for you and for Melanie.

Well done on NR being outvoted as well!


Reply author: rainbowofhope
Replied on: 30 October 2009 17:56:51
Message:

Fantastic news Pennyless!! Really really pleased for you - just me and Cath now!! Hopefully it won't be too much longer for us. You must be so relieved xx


Reply author: Cath
Replied on: 30 October 2009 18:30:57
Message:

Excellent news Penny and Melanie and the team. You must feel so relieved now you're on the road to debt freedom. Did NR hold 25% of the votes in your case?

Penny, add me as a Frugal Friend, I want to email you some questions if you don't mind!


Reply author: soashamed70
Replied on: 30 October 2009 20:26:34
Message:

Pennyless

Really pleased for you. Its a tough time and no doubt you have been through the mill waiting for today.

Wishing you good times ahead - and a big thank you for your wise words over the last couple of weeks - you helped keep me sane and still married!!!

Best of luck x


Reply author: country girl
Replied on: 30 October 2009 20:55:56
Message:

Congratulaitons Pennyless, am really pleased for you.

Linda


Reply author: Pennyless
Replied on: 30 October 2009 22:43:15
Message:

Thanks all for your support and congrats....it really still hasn't sunk in yet and sorry for being quiet but needed to get my head round it.

You have all been so wonderful and you can be sure I'll stick around Skippy.

Cath I've added you as a Frugal Friend so hopefully you can email me. I havn't got all the details of the "voting" but will question Tom further next week...I'm quite sure N Rock didn't have near 25% of the vote but will hopefully find out next week.

Ladyh yep first day of a debt free life and can't wait to see others from these forums in the same position.

Regards to all

Pennyless


Reply author: Pennyless
Replied on: 30 October 2009 22:57:53
Message:

Carrie I think with the extra 45 a month my dividend is 30p in the 1.


Reply author: rhondda2
Replied on: 30 October 2009 23:32:12
Message:

really pleased for you


Reply author: rainbowofhope
Replied on: 31 October 2009 03:57:22
Message:

So very well done penny an mel's team! great result, hope u r happy penny - just want to wish u all the best - please keep postin still need your support rainbow xx


Reply author: Pennyless
Replied on: 31 October 2009 07:33:47
Message:

Rainbowofhope yep will certainly be sticking around, still got 5 years to go through this and I can't wait till you, Cath and others get yourselves sorted and are on the road to debt freedom.


Reply author: kallis3
Replied on: 31 October 2009 09:43:42
Message:

Pennyless, you will get the results of the voting when your Chairmans report comes through. It will be on there.

It's usually with you within a few days, but you might have to wait a bit longer because of the postal strike.


Reply author: Pennyless
Replied on: 31 October 2009 10:19:03
Message:

Thanks Kallis forgot that a report is produced.


Reply author: Max
Replied on: 31 October 2009 10:20:47
Message:

How are you and yours this morning - could not resist asking you!


Reply author: Pennyless
Replied on: 31 October 2009 10:26:09
Message:

Great thanks elv. Have ready every single one of these posts on my thread this morning remembering the trials and rollercoaster ride that I've been through and the great support I have received from yourself and others.

I jest not, Max has been a little star over these past weeks, his picture always makes my wife and I smile!

Hope your fully recovered now from your OP.


Reply author: Max
Replied on: 31 October 2009 10:34:58
Message:

Good everything fine here thank you - Max was great dealing with t/calls - he has a very loud screach and I told Mercers that if they came to the house they had better bring a casualty doctor with them because Max would be out of his cage - he can take a finger off in a second and is a better guard dog than a German Shpeherd!! Anyone who goes near my wife if he is out are in some danger - he is very protective. Anyway, I so pleased for you and your family and I am glad the Forum helped you - it certainly helped me - Jan was brilliant - always there when wanted as was Skippy - nothing seems to be too much trouble for people on here. Take care and hang around!!


Reply author: Cath
Replied on: 01 November 2009 12:26:12
Message:

Penny I am so happy for you. You have got to the place where you wanted to be and thank you for your kind thoughts about myself and Rainbow, wanting us to have our IVAs accepted too.

Everyone on this site have been so supportive and welcoming, I don't know where I would be had I not found it.


Reply author: Pennyless
Replied on: 01 November 2009 12:33:13
Message:

Cath I've sent you an e-mail.....not used it before so let me know if it works.


Reply author: Cath
Replied on: 01 November 2009 12:41:45
Message:

It worked....have replied!


Reply author: mikepapa
Replied on: 01 November 2009 20:00:29
Message:

Hi Pennyless & our sincere congrats to you,, have only just logged on,, my broadband is on & off at the mo,, trying to get it changed,, one of the drawbacks of living out in the sticks. Anyway great news we are really pleased for you,, its a great feeling isnt it? Our second payment goes out soon & its nice to beable to budget without thinking about credit cards & those times of the month when the payments were due. We no longer fear the post coming & although we still get the odd phonecall we know they will fade as & when all relevent departments update there records. Again congrats & have a virtual beer on me,, lol.


Reply author: Pennyless
Replied on: 02 November 2009 09:02:53
Message:

Thanks mikepapa.....yep its a great feeling. Onward and upward from here I feel. Will be great not to have the credit card and loan bills dropping through the door.


Reply author: Max
Replied on: 02 November 2009 09:24:35
Message:

Been wondering how you are feeling - glad you are the way you are. Don't wish to be personal but I am sorry your in-laws feel the way they do. There but for the grace of God go I - comes to mind. You have got you and yours sorted now - that is all that matters and you have clearly done your best for your creditors. You are in the hands of an excellent IP - any difficulties just give a ring to the person nominated to look after you and Melanie is always there if you want her.


Reply author: Pennyless
Replied on: 02 November 2009 10:07:53
Message:

Thanks Elv....after 25 years married to their daughter and showering them with some of the proceeds of my debt you would assume they would be more understanding, however, to tell the truth I will not be losing any sleep over it. For them to suggest such a thing as "divorce" over money is more a measure of them as individuals, rather than me and my failings I feel.

I honestly wish my own Mum and Dad was alive (both passed away at 60)and that I could of told them my problems. I've no doubt they would of hit the roof and called me every name under the sun, but one thing I'm sure of is they would of helped me.

Truth be told I would dearly love to have my Mum here now to grab me by the scruff of the neck and drag me back up on my feet but I suppose eventually we have to learn to pick ourselves back up and take control of our own destiny......just seems it was much easier not being an adult.

Anyway as the saying go's "down but not out"


Reply author: Max
Replied on: 02 November 2009 10:14:42
Message:

You are not down and you are not out!! All the best.


Reply author: Pennyless
Replied on: 02 November 2009 10:17:33
Message:

Thanks Max your words are very much appreciated. All the best to you and yours also.


Reply author: Max
Replied on: 02 November 2009 10:18:22
Message:

Thanks!


Reply author: Simbel
Replied on: 02 November 2009 10:26:05
Message:

Congratulations Pennyless - I'm so happy for you, now you can actually relax and think of the future.

Don't worry about the out-laws - what you have with your wife is priceless and it's just something some people can't understand.

Once again my sincere congrats - well done. XX


Reply author: Pennyless
Replied on: 05 November 2009 08:14:54
Message:

Simbel thanks for that. Much appreciated.


Reply author: soashamed70
Replied on: 05 November 2009 08:29:38
Message:

Hi Pennyless

I agree - divorce is not the answer and as you say - over money! I'm glad everything is sorted for you. My in-laws don't know and we'll probably never tell them, my mother in law worries about everything anyway, so I wouldn't want to add to that!

Onwards and upwards, not down and out!!!


Reply author: Skippy
Replied on: 05 November 2009 08:38:03
Message:

Dave's mum doesn't know about my money problems - she would probably disown both of us!


Reply author: country girl
Replied on: 05 November 2009 09:37:10
Message:

Hi

Would never tell my mother outlaw she would bame me completely. My mum does not know it would worry her to much.

Linda


Reply author: lesley_
Replied on: 05 November 2009 14:30:33
Message:

My MIL is sadly playing with the fairies at the bottom of the garden at this moment in her life so she wouldn't understand.

My Mum just wouldn't know what an IVA was and if I told her she'd probably think it was something good and tell everyone, even if I told her not to!


Reply author: Max
Replied on: 05 November 2009 14:38:46
Message:

My mother-in-law knows - she replied "Well, these things happen - you arn't the only ones"


Reply author: lesley_
Replied on: 05 November 2009 16:05:04
Message:

Great attitude Max, we should all be like that with our friends and families, these things do happen.


Reply author: kallis3
Replied on: 05 November 2009 16:25:34
Message:

I wished that I could tell my parents, but even though they don't know what an IVA is, as soon as I told them it was because we couldn't continue to pay our credit cards and loans my mother would lose it big time!

I'm not going to risk that happening.


Reply author: kallis3
Replied on: 05 November 2009 16:26:44
Message:

I wished that I could tell my parents, but even though they don't know what an IVA is, as soon as I told them it was because we couldn't continue to pay our credit cards and loans my mother would lose it big time!

I'm not going to risk that happening.


Reply author: Max
Replied on: 05 November 2009 16:31:56
Message:

Don't blame you Jan - a peaceful family existence is very important.


Reply author: kallis3
Replied on: 05 November 2009 16:39:40
Message:

It is.

We have some numbers for tomorrow night as well David, so stand by for an email if we win!


Reply author: Max
Replied on: 05 November 2009 16:42:43
Message:

Our numbers are on - plus an extra one by way of mother-in law. Jane, we must have some luck sometime!!!!!!!!


Reply author: Max
Replied on: 05 November 2009 16:44:21
Message:

Sorry - knock the e off "Jane". My b------y glasses - waiting for my knew ones.


Reply author: kallis3
Replied on: 05 November 2009 16:45:24
Message:

Don't worry about it!

As long as the cheque is made out in the correct name!imageimage


Reply author: Max
Replied on: 05 November 2009 19:04:35
Message:

You bet - anyway YOU will be going with me!!!!!!!!!!!!!!!!!!!!!!!!!


Reply author: Pennyless
Replied on: 05 November 2009 19:22:34
Message:

Just realised the name change ....thought someone had hijacked Max lol.


Reply author: Max
Replied on: 05 November 2009 19:28:15
Message:

They would not stand a chance!! How are you and yours doing?


Reply author: Pennyless
Replied on: 05 November 2009 19:44:37
Message:

Good thanks Max. Couple of small financial probs (overdraft with old bank/quotations for existing policies) but compared to the probs we had before the IVA they pale into insignificance and I will deal with them as and when. Hope your recovering well from the op.


Reply author: Max
Replied on: 05 November 2009 19:50:25
Message:

Glad things are improving for you - I am fine thanks. Keep posting on here - you will give encouragement to others.


Reply author: Pennyless
Replied on: 07 November 2009 10:25:18
Message:

Well received my Chairmans Report today. Only MBNA (Virgin) failed to vote. Eversheds on behalf of Northern Rock asked for my payments to be increased from 540 for 60 months to 632 for 72 months but were outvoted (sigh of relief there).

Just one slight niggle is the letter I received from my IP which states:

"You have agreed that in the final year of arrangement, the supervisor will obtain an independant valuation of your property at.....and your share of the equity is to be realised for the benefit of creditors by way of re-finance OR sale."

In effect the above states that if I cant refinance I MUST sell my property. I will query this on Monday as I was not aware that if I had no equity or an insufficient amount then I would have no other option but to sell.


Reply author: Max
Replied on: 07 November 2009 11:08:51
Message:

Very sorry to hear that there is an other hitch and I do hope Melanie will be able to give you some clarification. I know it may not help you at this point but from what I remember you are young enough to remortgage (if it comes to that) an also there is an expert (I think he posts as Welshboy) in obtaining mortgages for IVA people. I really am sorry Pennyless for having read your posts you and your wife have been through it alright! One word of advice - please keep this latest hitch from your in-laws - the last thing I want to read is that you and your wife are having more trouble from that direction. Please let us know how you get along.


Reply author: lesley_
Replied on: 07 November 2009 11:12:37
Message:

I think most creditors if unable to remortgage will accept a further 12 payments in lieu of this or I think the IP can actually ask for closure of the IVA (just searched for previous posts)!

I'm sure Melanie's staff will put your mind at rest on Monday.


Reply author: Pennyless
Replied on: 07 November 2009 11:47:47
Message:

Thanx Max and Lesley. Will speak to someone next week.


Reply author: Cath
Replied on: 07 November 2009 17:48:50
Message:

Sorry to hear about that Penny, but a great heads up for others, myself included x


Reply author: kallis3
Replied on: 07 November 2009 17:51:05
Message:

Sorry to hear that, and I am sure that you can get this sorted on Monday.


Reply author: Skippy
Replied on: 07 November 2009 18:36:51
Message:

I hope you can get things cleared up on Monday, and I agree with Max, don't let your outlaws know. You've got enough on your plate without worrying about them x


Reply author: Max
Replied on: 08 November 2009 08:31:22
Message:

Pennyless - best of luck for tomorrow - I am certain Melanie will, somehow, put your mind at rest - she does not like worried clients!


Reply author: Pennyless
Replied on: 08 November 2009 09:50:20
Message:

Thanks Max....I'm sure its just the way the letter is written. I did not understand that I would HAVE TO "re-finance or sell" (I assumed the latter had provisions attached) in either speaking to Melanie or on reading my proposal, after all if there is a share of equity in the property after my 4th year I would probably try to get hold of this money by other means rather than remortgage or sell.

My account has now been passed to a Case Manager in Northern Ireland so I have new points of contacts.


Reply author: Max
Replied on: 08 November 2009 10:04:08
Message:

If you are with Laura she is a very nice person indeed - but still have a word with Melanie - she will not mind at all and, in any event, Laura will have told you Melanie is always available if required.


Reply author: Pennyless
Replied on: 08 November 2009 10:15:11
Message:

Yep Max now with Laura. She has said in her introductory letter that I can speak with Melanie at anytime so will contact the office first thing in the morning.

In any event Melanie has got me into a much better position now than I was 2 months ago and truth be told although I have a couple of "niggles" at the moment, I thank my lucky stars that I have got the IVA approved and effectively 5 years stay of execution lol...with the chance that one way or another I will be debt free.


Reply author: Max
Replied on: 08 November 2009 10:19:07
Message:

Good! Do let us know how you get along. You and your wife must have NO more worries. I do not know who your point loan is with but we had a similar problem - I told the creditor rep that my IP is Melanie Giles - the reply I got was that she was honourable and because of that the IVA was deemed genuine and they would help - they did - much of the joint debt was written off!


Reply author: Pennyless
Replied on: 08 November 2009 10:22:00
Message:

Sorry Max meant my IVA Case has been passed to the IVA Bureaeu office in N Ireland.


Reply author: Max
Replied on: 08 November 2009 10:44:06
Message:

I'll keep my fingers xed for you - all the very best.


Reply author: Max
Replied on: 08 November 2009 10:52:22
Message:

Pennyless - very sorry to knag you - but your comment stay of execution! Please Pennyless don't look on the blackside - it does no good only harm to you. You will be ok and so will Mrs Pennyless - with our joint loan we went right to the top - spoke to the Director of the creditor's Insolvency Dept - it worked because at that level they do not rely upon scripts. They have authority to act. Try it!


Reply author: Cath
Replied on: 08 November 2009 14:42:20
Message:

I thought that one of the plus points of going into an IVA as opposed to BR was to protect your home and if it is correct what Penny is saying, that if he can't raise any equity he has to sell his home, then there is no protection of his home?

I know it's all in the future and we don't know what the circumstances will be at the time but if he does have to sell his home, what was the point of having the protection of an IVA and paying back as much as he could afford to creditors only to have to sell his home at the end of the day?


Reply author: kallis3
Replied on: 08 November 2009 16:08:40
Message:

Pennyless needs to speak to the IVA team about this before any further comments are made.

I do not have to sell my home if I can't raise any equity and I will have more than enough by then.

I think we should reserve judgement until he has spoken to his case manager.


Reply author: Cath
Replied on: 08 November 2009 16:27:48
Message:

Agreed, it's all a bit up in the air at the moment. x


Reply author: Pennyless
Replied on: 09 November 2009 06:53:34
Message:

Morning all. Internet connection problems yesterday but back up and running.

Having checked my actual "proposal" it clearly states the following:

SALE OF PROPERTY EXCLUDED

"For the avoidance of doubt at no time do I intend to sell my property and the arrangement does not include any requirement whatsoever to place this property on the market for sale."

The aformentioned is obviously contrary to that stated in the letter I received and I would assume my "proposal" takes priority.I will try and speak to my IP today and let you know how it go's.


Reply author: Max
Replied on: 09 November 2009 07:10:53
Message:

There you are - now get on with your life and stop worrying!


Reply author: Helen
Replied on: 09 November 2009 08:48:46
Message:

Hi penny, hope you have a good day and you're mind sets at rest.

Will look in later to see how you've got on, I'm sure it will all be sorted by the end of the day.

xx


Reply author: Pennyless
Replied on: 09 November 2009 09:42:51
Message:

Thanks for the help all.

Have spoken to the IVA Bureau this morning and it would appear that the paragraph in the letter, regarding me "agreeing to the sale of my property" was entered in error and my proposal takes precedence....major sigh of relief!

Max I will await further correspondance from Barclays about our joint loan then do as you suggested by contacting the main boss...thanks.


Reply author: kallis3
Replied on: 09 November 2009 09:57:37
Message:

That's good news then!


Reply author: Pennyless
Replied on: 09 November 2009 09:58:55
Message:

Kallis you can say that again!


Reply author: Max
Replied on: 09 November 2009 10:21:22
Message:

Good news and now I wish you all the very best and I am glad you are with Melanie's firm for you will be well looked after. Best of luck with Barclays - don't give in - be very polite but persistent and I am sure you will be able to come to some arrangement. Take care.


Reply author: Pennyless
Replied on: 09 November 2009 10:26:52
Message:

Cheers Max.......just a few "teething" probs that have required ironing out but getting there lol.


Reply author: Max
Replied on: 09 November 2009 10:28:35
Message:

You will get there now you and Mrs P go off and enjoy yourselves - it is possible even in an IVA!!!!!!!!!!!!!!!!


Reply author: Cath
Replied on: 09 November 2009 11:55:12
Message:

Glad it's sorted Penny! xs


Reply author: Cath
Replied on: 09 November 2009 14:46:56
Message:

Little update from me. Have gone through the figures today and we are looking at 19p which is a little scary our monthly contribution to the IVA is quite low too.

Will discuss further with Melanie at our meeting next Monaday!

Fingers crossed. x


Reply author: Helen
Replied on: 09 November 2009 15:15:15
Message:

Penny, thats great news and Im sure a relief to you and yours.

The niggles do iron themselves out in a short time though hun but worrying non the less when they happen

xx


Reply author: kallis3
Replied on: 09 November 2009 18:27:03
Message:

Cath - Mel has got them through for a lot less than that.


Reply author: Cath
Replied on: 09 November 2009 18:35:38
Message:

I have been looking at old threads and have seen some low dividends but it's only today when I got all the figures through that I thought OMG, that's not a lot and neither is what is left of DI to put into the IVA if we are being realistic about expenses, which we have to be for success over the next 5/6 years.

Still, I am remaining positive.


Reply author: kallis3
Replied on: 09 November 2009 18:41:42
Message:

Melanie would not be looking at this proposal if she didn't think she could get it through.


Reply author: Cath
Replied on: 09 November 2009 19:00:01
Message:

I know Jan but it has changed a bit since she first looked at it, DI has gone up a bit but so have realistic expenses! She may look at it now in horror!


Reply author: kallis3
Replied on: 09 November 2009 19:07:03
Message:

I am sure it will be fine.


Reply author: Cath
Replied on: 09 November 2009 19:17:53
Message:

I am remaining positive and hopeful but this part is such a struggle, what with the letters and phonecalls, just want it to be done and dusted as we all do.

I was looking at the figures that the first firm gave me and they were expecting us to pay in the region of 300 more than our current proposal, it would have lasted 2 months tops! So glad I stumbled upon this site and the great advice given.


Reply author: Max
Replied on: 09 November 2009 19:25:27
Message:

Best of luck Cath - if you are with Melanie she wi;ll pull out all the stops - that from experience of her!


Reply author: MelanieGiles
Replied on: 09 November 2009 22:55:52
Message:

Nothing wrong with 19p in the - it is 19p more than they would get under bankruptcy proceedings. Cath - I will respond to your e-mail tomorrow - lots of IT problems at present which is slowing things down for us but will be fixed shortly.


Reply author: Cath
Replied on: 09 November 2009 23:01:56
Message:

No worries Melanie, I'm sure you will see my current I/E and quite small IVA contribution in the coming days. Look forward to seeing you on Monday. x


Reply author: Pennyless
Replied on: 10 November 2009 09:41:54
Message:

Have a good trip Cath and good luck with your meeting, although I'm sure you wont need it.


Reply author: kallis3
Replied on: 13 November 2009 22:44:42
Message:

Cath, everything will be fine. You have an excellent IP in Mel.


Reply author: Pennyless
Replied on: 16 November 2009 08:54:08
Message:

Fingers crossed today that your meeting go's well Cath and that your creditors meeting follows closely.


Reply author: Max
Replied on: 16 November 2009 09:01:47
Message:

Best of luck and wishes Cath


Reply author: becca21
Replied on: 16 November 2009 10:28:15
Message:

cath please let us know how you got on! have been following your progress and you only 2 weeks in front of me!! best of luck!
xx


Reply author: Cath
Replied on: 16 November 2009 14:09:50
Message:

Had a good meeting with Mel, she is lovely and we discussed everything we needed to in detail, including the option of BR for me which I really don't want to do, although it has been on my mind.

So now Mel will get the proposal re-drafted to reflect changes we made at the meeting and hopefully get it out to us today, if not, yesterday please Mel, well as soon as possible and then we'll need to absorb what it says sign it and get it back to her...then the creditors meeting which should be 2nd week of December.

It's been a long old journey so far and only a couple more weeks until the ultimate decision is made by my creditors.....fingers crossed guys, it may not be pretty!


Reply author: Helen
Replied on: 16 November 2009 14:11:49
Message:

Hi cath, so glad you met Melanie. I hope the next few weeks fly by and you're ahving a very happy christmas indeed

xx


Reply author: danieln
Replied on: 16 November 2009 14:22:10
Message:

Cath I had mine on Satuday so I guess we are almost at the same stage!

Glad all this is nearing the end now....


Reply author: kallis3
Replied on: 16 November 2009 16:50:22
Message:

Glad you had a good meeting with Mel Cath, told you she was lovely.

Hopefully not long until the creditor meeting now so you can be sorted for Christmas.


Reply author: Pennyless
Replied on: 16 November 2009 16:58:29
Message:

Cath good luck. As Melanies taking it forward then I dont think you need concern yourself much more.

Will keep fingers and toes crossed for you but I'm sure it will be fine.


Reply author: Cath
Replied on: 16 November 2009 18:21:22
Message:

Thank you all xxx


Reply author: Julie
Replied on: 16 November 2009 19:52:50
Message:

Glad it went well Cath....another step in the right direction for you.


Reply author: lesley_
Replied on: 16 November 2009 21:33:02
Message:

Glad it went well Cath, I do hope it goes smoothly for you. x


Reply author: MelanieGiles
Replied on: 16 November 2009 23:13:11
Message:

I am glad that you felt the meeting was beneficial Cath, and I think that you would agree that face to face meetings directly with the person who is going to be reprsenting you are very important. Hopefully I can finalise matters for you now over the next day or so.


Reply author: Cath
Replied on: 17 November 2009 15:26:36
Message:

Definately agree with that, I would imagine from your side you can get a feel as to how committed to the IVA the client is, especially mine! And from my point of view it enabled me to be clear about the figures and all the options.

I have taken a couple of creditor calls today, Nationwide were fine and updated their file, the man from MBNA was a numpty who wanted me to pay and then went on that if I couldn't pay them how would I pay the IVA blah blah blah, I gave him a run for his money because knowledge is power and thanks to all you guys I know what I'm talking about now!!!


Reply author: lesley_
Replied on: 17 November 2009 15:43:42
Message:

Well done Cath, some of the creditors are complete bullies and we should stand our ground against these, so long as we're polite I can't see the problem in saying you're in the process of an IVA and they should accept this.


Reply author: kallis3
Replied on: 17 November 2009 17:13:33
Message:

Good for you Cath!


Reply author: Cath
Replied on: 17 November 2009 20:24:54
Message:

Hubby has been passed on to the dreaded Mercers, I've managed to stave off Barclaycard for a couple of weeks. I've told him to speak to them next time they call, not that it will make any difference but it will make me feel better!

I'm not feeling good today, I feel that it's all over before it even began.


Reply author: kallis3
Replied on: 17 November 2009 20:34:32
Message:

Cheer up Cath - Mel is doing her stuff for you and is obviously happy with your proposal.

It will be over soon.


Reply author: MelanieGiles
Replied on: 18 November 2009 00:16:26
Message:

Proposals finalised tonight and in the post to you both tomorrow Cath - hope it makes you feel a little better when yo usee it all in black and white.


Reply author: Cath
Replied on: 18 November 2009 00:23:10
Message:

Thank you. Did some extra work that came my way today as discussed, no extra childcare, time to move it forward x


Reply author: MelanieGiles
Replied on: 18 November 2009 00:27:21
Message:

You will soon feel the benefits directly of those few extra clients Cath, as you will be able to retain some of that money for yourself and the family. I think you are a true genious at your trade, and I will defintely be making my own recommendations for your services from my neck of the woods. There could be queues forming!!


Reply author: Cath
Replied on: 18 November 2009 00:40:12
Message:

Well that wouldn't be a bad thing and then I could think about premium pricing! Word of mouth is the best and most realistic form of advertising and if the Cardiff thing does take off I know I could rent a space one day a week by one of the shopping malls, can't remember the name of it, it's by Churchill Way, I did quite a bit of work there when I was an educator.


Reply author: MelanieGiles
Replied on: 18 November 2009 00:42:31
Message:

What a great idea. There are no real good outlets in the city centre - apart from the nail bar in St Davids Centre - and only a short walk from my office!!!


Reply author: Pennyless
Replied on: 18 November 2009 07:03:49
Message:

Well Cath just read that Melanie is sending out your proposal....thats great news. Hopefully creditors meeting date not too far away then. I had my proposal signed and returned within 48 hrs and Melanie got me a date by the end of the same week. Good luck....have complete faith in Melanie and the team.


Reply author: kallis3
Replied on: 18 November 2009 18:32:31
Message:

You're on the last lap now Cath.


Reply author: Cath
Replied on: 18 November 2009 18:32:35
Message:

Roll on tomorrow and good speed the postie. I have a gap in the afternoon and will fly home to see if it has arrived, unnecessary but necessary journey!


Reply author: Helen
Replied on: 18 November 2009 18:36:48
Message:

You've come such a long way cath and now your proposal is on the way.

One more step passed and I'm really pleased its moving on for you hunni.

xx


Reply author: kallis3
Replied on: 18 November 2009 18:52:16
Message:

I'm sure it will be there.


Reply author: Cath
Replied on: 18 November 2009 19:05:19
Message:

It's been a dang long waiting process! I wonder if it's been sent recorded or signed for, if so I'll need to wait another day to collect it from the sorting office if I'm not in! Postie always comes after lunch so hopefully I will be at home!


Reply author: kallis3
Replied on: 18 November 2009 21:11:48
Message:

Fingers crossed!


Reply author: Cath
Replied on: 18 November 2009 23:22:14
Message:

Last client tomorrow has re-scheduled until her pay day, don't blame her, so have poor day tomorrow but hope I will get the paperwork and be able to get it sent back next day delivery. I'm done with waiting, you must be bored of hearing about it by now.

Me and Penny and Rainbow, Becca too, all started at the same time but me and hubby are still here, waiting, it's driving me crazy, I just want to know!


Reply author: danieln
Replied on: 18 November 2009 23:39:34
Message:

im still here cath too dont worry! did you get your paperwork? lots to read got mine today!


Reply author: Cath
Replied on: 18 November 2009 23:59:54
Message:

That's good news for you dan, are you with Mel too? I'm just so waiting! How long has it taken you to get to this stage?


Reply author: Pennyless
Replied on: 19 November 2009 05:56:39
Message:

We'll all get there before Xmas Cath I'm sure. Good luck to you also danieln.


Reply author: lesley_
Replied on: 19 November 2009 07:21:32
Message:

Mine took a long time cath for several reasons (none of which were IP's fault), reasons outside both our controls and necessary for acceptance of IVA but in the end I got there and now enjoying life in the IVA. Won't be long till you look behind you and think phew!


Reply author: danieln
Replied on: 19 November 2009 09:25:53
Message:

Morning,

Yes I am also with Mel, I orignially made contact back in september and had my initial chat at the end of September, it not really that long ago but feel like a long time!

Did you get your paperwork?


Reply author: becca21
Replied on: 19 November 2009 11:12:22
Message:

hold tight chickens! won't be long although it feels like it's forever!
xxxxxxxxx


Reply author: Cath
Replied on: 19 November 2009 12:14:12
Message:

Post not arrived as yet:(


Reply author: kallis3
Replied on: 19 November 2009 12:16:12
Message:

It will be there Cath!


Reply author: Cath
Replied on: 19 November 2009 12:25:24
Message:

I'm like a kid waiting for Christmas!


Reply author: kallis3
Replied on: 19 November 2009 12:33:31
Message:

Don't worry Cath - everything will be ok.

Christmas will be even better with this under your belt!


Reply author: danieln
Replied on: 19 November 2009 12:40:48
Message:

I totally agree!!

will the creditors meeting be a fixed number of days or is it up to this number if this makes sense?


Reply author: size5
Replied on: 19 November 2009 12:45:02
Message:

Your creditors meeting will be set up for a specific day at a specifice time, but your creditors can, and in some cases definitely will, vote before that time if they wish. You will be notified of acceptance/rejection or adjourment after the meeting has closed.

Regards.


Reply author: kallis3
Replied on: 19 November 2009 12:47:00
Message:

Not quite sure what you mean Daniel, but the creditors meeting is on a specific date, your creditors can vote at any time up to that date but once the meeting has passed, if you are accepted then all creditors are bound by the decision.


Reply author: danieln
Replied on: 19 November 2009 12:54:05
Message:

Thanks for your replies sorry it didnt really make sense! :)

What I mean is once Mel has our paperwork back and they call the meeting does it have to be a specifed number of days to give them notice, so if called on 1st December would it be 17th (based on 17 days notice?)

Just wondered how long I might wait until the meeting date?


Reply author: Cath
Replied on: 19 November 2009 14:10:02
Message:

It's arrived!!!! Hope to get it back in the post this afternoon.


Reply author: danieln
Replied on: 19 November 2009 14:24:36
Message:

Great stuff! :)

Good luck...


Reply author: kallis3
Replied on: 19 November 2009 14:27:28
Message:

Not sure Daniel, hopefully Mel will be on later to advise.

Cath - great stuff, you're moving on now!


Reply author: becca21
Replied on: 19 November 2009 15:20:59
Message:

fab news cath!!! xx


Reply author: Cath
Replied on: 19 November 2009 16:05:06
Message:

It's now back in the post Special Delivery.... you never know, we may have a date tomorrow!


Reply author: danieln
Replied on: 19 November 2009 16:06:40
Message:

That was quick! Lets hope so...

Are you doing a joint one cath or on your own?


Reply author: Helen
Replied on: 19 November 2009 16:10:27
Message:

Brilliant Cath...

Your postie sounds like mine, we never get our post until lunch time or early afternoon

xx


Reply author: kallis3
Replied on: 19 November 2009 16:11:28
Message:

Good luck - I am sure that you will get a date soon Cath.


Reply author: Cath
Replied on: 19 November 2009 16:13:06
Message:

It's a joint one. It was all laid out for hubby's perusal and signature as soon as he set foot in the door!


Reply author: danieln
Replied on: 19 November 2009 16:17:32
Message:

lol sounds like me and my wife last night! :)

Good luck to you, not long now for us both.


Reply author: Helen
Replied on: 19 November 2009 16:18:59
Message:

All the best for you too Daniel.

xx


Reply author: kallis3
Replied on: 19 November 2009 16:19:39
Message:

I'm sure you checked it and got him to sign it asap!

Melanie will confirm receipt I am sure.


Reply author: MRBLUESKY
Replied on: 19 November 2009 16:44:21
Message:

i think your ip has to give creditors 30 days notice for meeting date,so you may just creep in before xmas,hope so would,nt that be great.


Reply author: Cath
Replied on: 19 November 2009 16:46:34
Message:

I'm sure it's 16 days.....and counting lol


Reply author: Pennyless
Replied on: 19 November 2009 16:54:39
Message:

Cath thats great news...should have your date very very soon!!!!!!!!


Reply author: danieln
Replied on: 19 November 2009 16:55:47
Message:

Just actually heard back from Tom to advise it is 16 days.. so potentially 6th? This would be great...


Reply author: Cath
Replied on: 19 November 2009 16:56:45
Message:

Cheers Penny and everyone, I'm having an up moment just now, no doom and gloom tonight!


Reply author: danieln
Replied on: 19 November 2009 16:56:58
Message:

Actually 6th is a sunday so probably not! image


Reply author: Cath
Replied on: 19 November 2009 17:29:13
Message:

Did you send yours back today too Dan? We could be on the same day!

Maybe Monday 7th!


Reply author: danieln
Replied on: 19 November 2009 17:34:23
Message:

Yes all gone back today so should arrive tomorrow too!

Yes lets hope so, 7th sounds good!


Reply author: orchid5
Replied on: 19 November 2009 18:30:12
Message:

Good luck to both you Cath and Daniel, here's hoping that xmas for both of you is a good one.


Reply author: flumpy dog
Replied on: 19 November 2009 20:20:56
Message:

fingers crossed for you hun hope its all good x


Reply author: Cath
Replied on: 20 November 2009 18:03:41
Message:

Any news Dan? My proposal was received back at the office today, so hopefully some news on Monday.


Reply author: danieln
Replied on: 20 November 2009 18:15:07
Message:

Hi Cath,

No nothing yet, I noticed it had been signed for so its also arrived hopefully monday!! :)

Have a nice weekend...


Reply author: Pennyless
Replied on: 21 November 2009 08:33:04
Message:

Cath & Dan...we will be looking forward to next week and reading that you have your creditors meeting dates.

Onward and upward!


Reply author: Cath
Replied on: 23 November 2009 13:09:18
Message:

Creditor meeting 10.30, Tuesday 8th December!


Reply author: danieln
Replied on: 23 November 2009 13:11:12
Message:

Hi Cath,

Great stuff... image

not heard anything yet but will stay calm sure it is in hand!


Reply author: danieln
Replied on: 23 November 2009 13:13:16
Message:

Actually after posting I noticed your post time... how odd, just logged on to the forums at the time to see if you had updated...


Reply author: kallis3
Replied on: 23 November 2009 13:17:56
Message:

Great news Cath - not long to wait now then.


Reply author: Julie
Replied on: 23 November 2009 13:25:42
Message:

Not long now Cath..


Reply author: becca21
Replied on: 23 November 2009 14:35:53
Message:

oh cath not long now! it will fly, i just hope friday comes around quickly for me am absolutely dreading it!
x


Reply author: lesley_
Replied on: 23 November 2009 14:42:20
Message:

Not long at all Cath, all the best x


Reply author: Pennyless
Replied on: 23 November 2009 15:07:44
Message:

Thats great news Cath...not long now!


Reply author: ontheroad
Replied on: 23 November 2009 15:32:15
Message:

Not long now cath, great news and good luck.


Reply author: Julie
Replied on: 23 November 2009 15:37:16
Message:

Good luck to you too Becca...Friday will be here before you know it xx


Reply author: Cath
Replied on: 23 November 2009 16:08:29
Message:

Yes Becca, looking forward to reading your news on Friday xxx.

Thanks for the well wishes, you guys rock xxx


Reply author: ontheroad
Replied on: 23 November 2009 17:19:54
Message:

Yes Becca, good luck for friday,looking forward to a positive post from you then, everythings crossed for you.


Reply author: Helen
Replied on: 23 November 2009 20:04:26
Message:

cath, thats great news.. that time will fly by and I reckon both you and Becca are going to have a very happy christmas

xx


Reply author: danny4
Replied on: 24 November 2009 03:05:15
Message:

Good luck for Friday. I'm sure everything will be fine.


Reply author: danieln
Replied on: 24 November 2009 15:01:53
Message:

Hi Cath and all,

Wednesday 9th for me... will be counting down the days... and hours!

Just to follow up on what Cath said "you guys rock" this is very true! Without everyone on here and all the advice and support I would probably have progressed no further and we would still be sauntering along, even though I had taken advise from one of the debt charities! I know like many here I am not quite there yet but would like to thank you all for your help so far!


Reply author: lesley_
Replied on: 24 November 2009 15:05:07
Message:

daniel, fab news and won't be long now. Start that countdown, glad the forum has helped you.


Reply author: ontheroad
Replied on: 24 November 2009 16:08:49
Message:

Great news daniel, stay positive for the 9th and good luck to you.


Reply author: Cath
Replied on: 24 November 2009 16:09:08
Message:

Great news dan...busy week that week!


Reply author: Helen
Replied on: 24 November 2009 16:13:15
Message:

A busy week that week then. Dan I'm so glad you have your date too. December is going to be a good month

xxx


Reply author: Pennyless
Replied on: 24 November 2009 20:34:08
Message:

Thats great news Daniel, following close on the heels of Cath lol.

Good luck for friday Becca and hopefully by 9 Dec we will see a hat-trick!

Fingers & toes crossed for all of you.


Reply author: Pennyless
Replied on: 24 November 2009 20:42:41
Message:

Just a quick update.

Since our Barclays joint account has been frozen for two weeks now, we have been attempting to reply to letters and speak to Barclays bank regarding my wifes (not in an IVA) loan, however all attempts to get Barclays to take a payment off us or even change her payment to come out of our new account have been unsuccessfull....until 15 mins ago that is!

Received a call from Barclays Collections department tonight and as a result managed to pay her missed payment and set up a direct debit for her loan.....in addition they stated in order to assist my wife, they would delay next months payment for 14 days.

Just hope they are as accommodating with our 4k overdraft I have left my wife with though...doh!


Reply author: Cath
Replied on: 24 November 2009 20:53:23
Message:

Good to hear from you Penny....so glad you are getting the other side of the debt problem sorted out xxx


Reply author: Helen
Replied on: 24 November 2009 20:56:46
Message:

Hi Daniel.. I posted a reply earlier but its vanished...lol

I just wanted to wish you luck hun and I feel sure that december is going to be a great month
xx


Reply author: Helen
Replied on: 24 November 2009 20:59:01
Message:

Hi Penny

They can be a bit weird can't they? But I guess they are getting their money now so hopefully you'll have an easier time with the overdraft.

xx


Reply author: Pennyless
Replied on: 24 November 2009 21:02:11
Message:

Thanks Cath & Ladyh.....still waiting for Barclays to actually allow me to speak to a "human" in regards to our overdraft, but little steps I suppose.


Reply author: bandit
Replied on: 24 November 2009 22:48:06
Message:

good luck to both cath and becca, this thing is like awaiting trial, its awful. thank god for red wine and cigerettes


Reply author: Helen
Replied on: 24 November 2009 23:28:48
Message:

Red and wine and fags eh? excellent choice.!!

Do try and get some sleep tonight hun... I know its so easy for me to say that but I do remember my own approval day so clearly.

I am thinking of you and sending you as much possitive vibes as I can bunni

xxxx


Reply author: Pennyless
Replied on: 04 December 2009 08:59:43
Message:

Cath.....not long until the big day!


Reply author: danieln
Replied on: 04 December 2009 09:16:14
Message:

Pennyless, have you made any progress with barclays on your overdraft?


Reply author: Pennyless
Replied on: 07 December 2009 04:47:52
Message:

Hi danieln. Nope no progress as yet. Will hopefully be chatting to them this week and arranging a payment plan of some sort.

Good luck.


Reply author: Helen
Replied on: 07 December 2009 08:31:50
Message:

Hi penny

Hope you get that human on the phone hun, hope you get it sorted before xmas and you can have a brilliant festive time

xx


Reply author: Pennyless
Replied on: 09 December 2009 21:16:03
Message:

Hi all just a quick update on my joint bank account which I left my wife holding with over 4k overdraft. I enquired today into setting up a payment plan with the bank but discovered the account is no longer ongoing.

Visited Barclays today and it appears that the account has been "closed" entirely and the balance reduced to "nil". The Personal Banker reckons it will all of been consolidated into my IVA, however, with my Wife not being included in the IVA, could I be that lucky I wonder...time will tell?

In any event I also tried AGAIN (4th time) to set up my wifes repayment from our new bank to her Barclayloan, however, Barclays cannot seem to do it so the only suggestions are either she pays by cheque each month at the branch or I set up a standing order from my account.

Anyway great news on Cath and Dan today so a very positive day...onward and upward.


Reply author: kallis3
Replied on: 09 December 2009 21:24:07
Message:

Be interesting to see what happens about the overdraft.

Perhaps you should set up a standing order - at least that way you know it is paid.


Reply author: Cath
Replied on: 09 December 2009 21:32:07
Message:

I hope you can get it sorted with Barclays Penny, they have always been a nightmare for me and even had a call from Mercers tonight.


Reply author: Pennyless
Replied on: 09 December 2009 21:34:41
Message:

Yep Kallis will be trying the "standing order" route this month.

Well Cath all we can do is wait to see what happens. Obviously would be great if they can combine the overdraft into my IVA...fingers crossed.


Reply author: kallis3
Replied on: 09 December 2009 21:38:08
Message:

I had a call from Mercers the day mine was accepted as well. Just told them I was in a IVA and they couldn't call me anymore. They even had the cheek to ask for a payment!

Not heard anything since though.


Reply author: Cath
Replied on: 09 December 2009 21:46:28
Message:

The first thing they asked me for was money...I told them my IVA had been accepted and they asked me for details of the OR, shows how much their staff know, I told them I wasn't bankrupt and what did an OR have to do with it so she put the account on 7 day hold lmfao!

I also had a few calls from Nationwide today who were represented by TIX with the lodgers clause in our proposal.


Reply author: Cath
Replied on: 09 December 2009 21:47:44
Message:

Totally, fingers crossed Penny xsxx


Reply author: kallis3
Replied on: 09 December 2009 21:49:16
Message:

The call centre staff don't have a clue.

I was lucky that my calls didn't continue afterwards. However, it does take a while for the information to filter down through the various offices.


Reply author: Pennyless
Replied on: 09 December 2009 21:53:09
Message:

Agreed kallis I dont think these big companies have a very good in-house "communication" policy. Strange that when they all look at the same computer screen you would expect them to see the same results.


Reply author: kallis3
Replied on: 09 December 2009 22:10:20
Message:

You would have thought so. There are posters on here who have received calls for months afterwards.


Reply author: Cath
Replied on: 10 December 2009 20:46:43
Message:

I've now had calls and spoken to Mercers, MBNA and Nationwide, all since yesterday....apparently I am now on the 89th day of the Nationwide criteria for passing the debt on but I guess that doesn't matter any more...how calming it is now to speak to them. I wonder if they pass on the cases to more qualified staff because MBNA and Nationwide seemed to know what they were talking about rather than simply asking me for money.


Reply author: Pennyless
Replied on: 14 December 2009 05:43:35
Message:

Cath I suppose it matters little now what your creditors do...after all you are now "in an IVA".....well done.


Reply author: kallis3
Replied on: 14 December 2009 12:50:08
Message:

At least you can rest safe in the knowledge that they can't do anything to you.


Reply author: Pennyless
Replied on: 03 January 2010 16:01:46
Message:

Just thought I'd resurrect my "process" story for any "newbies". 8th Sep seems a lifetime ago now.


Reply author: Sinking Fast
Replied on: 03 January 2010 19:38:33
Message:

Hi Pennyless.

We are only just starting the process of going down the IVA route. I see you have been in an IVA for some months now.

How are you coping with being more frugal?

Thanks.

quote:
Originally posted by Pennyless

Just thought I'd resurrect my "process" story for any "newbies". 8th Sep seems a lifetime ago now.


Reply author: Pennyless
Replied on: 03 January 2010 22:04:41
Message:

Hi sinking fast...I started the process in Sep and got approved 2 months ago. I have found the whole IVA process and finance management more of an education then a bind to tell the truth, so although I dont have as much to spend I feel much better now that I am only spending my own money and thats priceless.

Obviously having Melanie Giles as my IP has made the process much easier.


Reply author: Helen
Replied on: 03 January 2010 22:06:14
Message:

it is a while ago penny and hasn't it gone quick?

Sinking fast ..... I think we adapt quite quickly, really because we have to. It's an odd feeling that all your bills are paid and once the foods bought etc, even if you've no money left.... it's quite comforting really.

I learnt to bargain hunt and only buy food we need. yeah I still have slurges now and again especially if there is any extra omney left in my purse. But those splurges feel good as you know its all good hard cash that your buying it with and not on the plastic so to speak.

Even when our IVA is over, I shall continue to be frugal, because its all i know now. Before it would be .... oh lets have 'it' and now I stand there looking at somehting and think... i dont need this... I only want it and walk away.

You'll get used to it hun and I reckon you'll enjoy the challenge

xxx


Reply author: Pennyless
Replied on: 03 January 2010 22:12:51
Message:

Agree entirely Helen. I think the hardest part of the process was accepting that at 45 year old I really didn't have a clue and having to admit that I needed help, but once I sought help it was great to find that their are so many out there who will help you on the correct path to debt freedom.


Reply author: kallis3
Replied on: 04 January 2010 08:22:23
Message:

We are the same - we used to go out on a Saturday afternoon 'for a look round' and never came home empty handed.

We once went out looking for a venting kit for the tumble dryer......twice we came back without one, but we bought a microwave the first time and a dishwasher the second time!

Learned our lesson now and won't be doing anything like that again!


Reply author: Pennyless
Replied on: 05 February 2010 07:38:02
Message:

Wow Helen.....3 months to go for you now...well done.


Reply author: Helen
Replied on: 05 February 2010 08:56:36
Message:

Well its 4 Pennyless but thanks.

29th May my final payment goes out and we are completely skinting ourselves between now and then to make up the missed bits to go out on the same day rather than add on another extra month. It cost a fair bit to have the cat put right but it wasn't something we deliberated on... just had to do it and thankfully DFD allowed us to use what money we needed.

I look at my budget sheet daily.... skip straight to the end of June just to see the balance. I know it's going to happen but I am in the mind of 'I'll believe it when I see it'

All that said I think it's going to be a sureal feeling!

xx


Reply author: Pennyless
Replied on: 05 February 2010 10:29:51
Message:

Helen you have been so supportive to many of us on these forums and it will be well deserved on the 29th May x.


Reply author: inapickle
Replied on: 05 February 2010 17:00:45
Message:

Hi Pennyless,
Absolutely awesome post, very well done, I can totally relate to some of the points you made, I did not find it a bind either, just total relief, I think you did it similar to me as well, started the process before the creditors realised you were in trouble, for me not one single call.

very well written,
Best Wishes
Mark


Reply author: lesley_
Replied on: 05 February 2010 17:01:49
Message:

Well deserved day for Helen most definitely, we'll all catch up at some point too, so looking forward to that day x


Reply author: kallis3
Replied on: 05 February 2010 17:07:24
Message:

Good luck H - not long to go now! Look forward to a Frugal Friends shortly afterwards.


Reply author: Pennyless
Replied on: 07 February 2010 12:24:01
Message:

Inapickle glad you found this post useful. As you have read I got a lot of questions answered by many of the experts and experienced posters alike and if people can gain some idea of whats involved in the IVA process or take some ideas away from it then great. Good luck.


Reply author: New Leaf
Replied on: 07 February 2010 20:14:12
Message:

A big thank you to Pennyless for the full account of your personal journey through the IVA process.

My wife and I, are currently at the very early stages of the process after making a call to Melanie Giles last week .

From the many accounts I have read on here it seems like we have made an excellent choice, and feel a lot better after speaking to Tina, who we found to be very helpful.

I have spent the best part of the afternoon reading through the thirty pages of posts, and found the information on here to be of great use.

It is also comforting to know that we are not the only ones in the position we find ourselves in.

From our initial dealings with Melanie, and reading through the experiences of others, it has made us determined to confront our situation all the more.

Once again many thanks to Pennyless for a great post, and I wish you, and all the other contributors on here, all the best for the future.


Reply author: kallis3
Replied on: 07 February 2010 20:19:58
Message:

Hi Newleaf and welcome to the forum.

You have made an excellent choice with Melanie and she and her team do come highly recommended on here.

The forum is here for you if you have any concerns, or need any advice or support.

Good luck with your application.


Reply author: New Leaf
Replied on: 07 February 2010 20:34:02
Message:

Thanks for the welcome Kallis3.

It is nice to know that support and advice are available, and I will most definitely be calling upon yours and others knowledge and experiences over the coming weeks.

I will also try to keep the forum updated as to the progress of my application


Reply author: kallis3
Replied on: 07 February 2010 21:19:06
Message:

Please do.

There is usually someone on here at most times of the day for support and advice, and we do love to see how posters are getting on.


Reply author: MelanieGiles
Replied on: 07 February 2010 21:57:09
Message:

Hi there

I am glad that you have asked my firm to assist with your application, and that you have found the advice already given by Tina to be very helpful. I shall look forward to speaking to you myself, very shortly - and do let us know if there is anything we can do in the meantime.


Reply author: lesley_
Replied on: 07 February 2010 22:04:16
Message:

Welcome from me too and will confirm you've chosen the best in choosing Melanie and team.


Reply author: Pennyless
Replied on: 21 February 2010 10:18:25
Message:

New Leaf...good luck on your journey....at times it seems you will never get there, but in all sincerity you can put 100% trust in Melanie and her team. Please let us know how you get on.


Reply author: New Leaf
Replied on: 21 February 2010 12:28:43
Message:

Thanks Pennyless.

Reading the account of your journey has given us great inspiration in the quest to sort out our own situation.

With your account it has enabled us to be one step ahead, this week we have been getting together all the documents that will be required for us to advance in the process, although we have not been requested to supply these yet, we feel it will save time in the long run.

We have opened a new account with Nat West( Step Account), this took a little longer than expected due to us applying on line, but our account details have now come in the post and we are ready to proceed with cancelling DDs and transferring some to the new account.

I have contacted my employer with reference to changing my bank details with them, so that my wages get paid into the new account, so this will be sorted for next month as I get paid on the 20th.
It was too late to do it for this month as we only received the new account details on the 18th.
The situation is the same with my husbands wages, even though he gets paid on the last day of the month, his company use an outside company for their payroll, and require more time to change the details over, so that will be in place for next month also.

We are up to date with all our creditors at the moment, so we have not yet had the expected phone calls, I expect this will change when I start cancelling direct debits.

We have started to budget, and we look closely on what we are spending, some things have been cut back and some things we have cut out all together.
We have not used our credit cards for over a month and feel a lot better for this, and find that budgeting and looking at ways to save money will stand us in good stead for what lies ahead.

This is where we are at the moment, and we are hoping to here some news of our case moving forward in the not too distant future.


Reply author: Pennyless
Replied on: 21 February 2010 12:44:55
Message:

New leaf it seems you are well ahead of the game and a little time spent now will save you loads of time in the near future and make the process much easier for both you and your IP.

I must admit that I hadn't prepared as well as you and your wife and therefore although I was lucky in the short time (8 weeks) it took to get my IVA, I could of saved myself a lot of heartache and pressure by not having to spend my first couple of weeks rushing around to get my documents etc together.

I cannot fault your actions and you do right not to take another pennies worth of credit, as eventually robbing Peter to pay Paul has to stop somewhere and that time is now.

As you will of read I was lucky enough not to experience any bad calls from creditors and in reality found the majority of them to be understanding of my predicement, after all its becoming more and more common that people are having to take IVA's/BR and that position doesn't look as though it will ease anytime soon. All I would add is keep them abreast of your situation and keep regular contact. Obviously it will come to the stage where you will not be paying them at all or in my case a pro-rata payment prior to the IVA but your individual position will ultimately deem your actions required, suffice to say I did have some disposable income and paid my creditors a nominal pro-rata amount, however nothing like my original payments.


In any event the experts and experienced posters on this forum will ensure that your IVA journey is as smooth as possible and I have found this priceless.


Reply author: Pennyless
Replied on: 12 April 2010 15:08:37
Message:

Hi all. Hope everyones well and thought I'd post an update.

Everything is currently fine with my IVA and I'm managing to meet my monthly obligations and also my IVA payments. Unfortunately last week my wife recieved a letter from Barclays telling us that our overdraft of 4300 had been passed to RMA/NCO Trading and that my wife was to contact RMA and immediately pay them the 4300 that we have no hope of raising.

We had previously attempted to arrange a payment scheme with Barclays late last year, however, when we went into the branch they said they had no records of my accounts therefore we left it for Barclays to make the next move, however what a stunning move they have made....we expected that they would contact my Wife (who wasn't included in my IVA, however is liable for the debt) and arrange someway by which the overdraft could be repaid in a reasonable timescale/amount, however it looks like they have gone straight for blood. In any event there is no way with my outgoings and her loan repayment that we can pay the 4300 so it looks like it will be off to Court. I have read a lot about RMA and they really do seem a determined bunch who can be less than civil on the phone. My wife only has this ovedraft debt and a 15k loan so doubt theres anything else...even a DMP that she could do....but any advice would be welcome.

Now recieved a card from RMA stating that they will call this Saturday between 8am - 8pm, but I think it will be a wasted journey. Not sure which way to turn at the moment as we really have had a load of car problems and had to pay out prctically every little thing we have tried to save.....the cars a neccessity but a really expensive one at that...and car tax just arrived today to boot!

Ah well such is life I suppose...all we can do is try to keep going. Good luck all and its really great to see the friendly stalwarts keeping everyone going....keep it up.


Reply author: danieln
Replied on: 12 April 2010 15:28:21
Message:

Hi Pennyless,

Good to hear from you hope you are well, looks like you have had a few setbacks but im sure it will all work out ok, you have done well to get this far!

I think that calling card left was a phone call rather than a visit so hopefully you dont need to worry about someone appearing at your door!

Daniel


Reply author: Pennyless
Replied on: 12 April 2010 15:48:07
Message:

Thanks Danieln...great to see your 4 months down......still cant believe I have not used credit in 6/7 months!


Reply author: danieln
Replied on: 12 April 2010 15:55:15
Message:

Yeah those 4 months have flown, must not have been too far behind you!

Yeah it is odd living without credit... I much (much!) prefer this way of life, looking forward to the end of it all...


Reply author: kallis3
Replied on: 12 April 2010 16:02:55
Message:

I agree with Daniel that it will be a phone call, rather than a visit. It is worded in such a way that you think it is going to be a visit. Halifax did that to me, and I had neither.

I hope your wife can get something sorted out.


Reply author: Pennyless
Replied on: 12 April 2010 16:34:50
Message:

Thanks Kallis.....going to look at a DMP for her.


Reply author: kallis3
Replied on: 12 April 2010 17:12:42
Message:

It might be a good idea for her.

Hopefully will stop the hassle.


Reply author: Pennyless
Replied on: 21 July 2010 07:56:41
Message:

Just a quick update.

Wifes debt has now been passed from RMA to NCO (one of the same) and although she has kept writing to them (and emailing)they have refused to acknowledge any of her correspondance, suffice to say that the only way they will discuss the matter is on the telephone, which causes a slight problem as we refuse to give them our number.

I have spoken to an IP on these forums who is willing to assist in the matter and when eventually NCO do comply with my wifes request to send details of the debt then we shall get the big guns out. To-date they just keep threatening to send someone round (but no one ever shows) and take us to court but they cant get blood out of a stone.

Great to see all the regular contributors on here and the many new posters....you all do a great job.....keep it up.


Reply author: Helen
Replied on: 21 July 2010 08:50:11
Message:

Hi Pennyless

Lovely to see you again but sorry to hear your wife is being bombarded and not listened to. I do hope this improves soon.

What have you been doing with yourself and how are all the family?

Keep popping in hun, its good to see you and see how you're doing.

xx


Reply author: Pennyless
Replied on: 21 July 2010 09:58:32
Message:

Hi Helen thanks for your support.

Things not too bad at the moment and IVA is steady away.

Still have the ocassional down days when I wonder how I ever got myself and my family into this financial mess but I still read these threads and gain strength form others in the same predicement and how they deal with it.

You and others on here really are a lifeline at times.


Reply author: Helen
Replied on: 21 July 2010 11:05:18
Message:

I have to say... these last 8 months have gone very quickly.

I do hope the remainder is fast and trouble free and don't beat yourself up hun.. debt happens for may reasons.. you need to feel proud that you took steps to repay and you took responsibility. Your children, I'm sure would much rather have that for a father than one who just couldn't care less and didn't give a damn.

You did good!

xx


Reply author: Pennyless
Replied on: 26 September 2010 10:21:59
Message:

Hi all.

A quick update.

As most of you know I took out an IVA last year, however, apart from my mortgage the only joint debt I had with my wife was my "overdraft" with Barclays (circa 5k), therefore whilst I was somewhat protected within the IVA, the debt and subsequent responsibility fell to my wife (who was unable to join me in the IVA).

To cut a long story short the Barclays debt was passed to RMA then NCO.....then back to RMA and finally back to NCO (over a period of a 6 - 8 months), during which time my Wife had weekly demands (and postcards stating that someone would visit...although no one ever did) and that we should call them to discuss the matter.

Having read some horror stories on the net about how some of their reps can be lesss than civil on the telephone, I sent various and numerous emails to the RMA and NCO, however, they neither responded or made mention of my emails in any future correspondance.

In essance all I was seeking from them was formal confirmation that the debt and its amount was correct/existed (as my bank account and any referance to it had been deleted as soon as they were notified of my IVA), following which my wife would seek a DMP.

Then last week due to my wifes growing concern and worry over their letters of Court action and constant postcards and letters, I used my mobile phone and finally spoke to them. They have agreed a "full & final offer) of just over 1/3rd of the debt, which my son (he's been a real star) has agreed to pay in order to get rid of the debt. Whilst on the phone I spoke to a few of their reps and they were quite civil, however, in all other dealings I would recommend writing to them.

So hopefully, thanks to my Son, my wife will not have to worry so much about the debt and we can concentrate on keeping our IVA payments up to-date.

Good luck to all of you and hope this helps some of those finding themselves in a similar situation.

Regards

Pennyless


Reply author: Sinking Fast
Replied on: 26 September 2010 11:38:14
Message:

Hi Pennyless good to hear from you, and pleased things seem to be going in the right direction.


Reply author: kallis3
Replied on: 26 September 2010 12:33:19
Message:

That's excellent news Pennyless. So glad you are getting things sorted and that your wife will be debt free soon.

Good luck with the rest of your IVA and keep posting so we know how you are getting on.


Reply author: Helen
Replied on: 26 September 2010 15:46:14
Message:

Hi Pennyless

Lovely to hear from you again and really pleased that your able to get this out of the way... what a lovely son you have!

keep us updated wont you and the best of luck here on in.

xx


Reply author: Skippy
Replied on: 26 September 2010 15:49:51
Message:

That's really good news Pennyless. It's good to hear from you again, and don't forget to pop in now and then x


Reply author: lesley_
Replied on: 26 September 2010 15:53:20
Message:

Great news and what a lovely son you have x


Reply author: Pennyless
Replied on: 26 September 2010 15:59:30
Message:

Hi all.....agreed Helen, my Son has helped me and my wife a great deal and we owe him a lot.

Sinking Fast, Skippy, Helen, Lesley and Kallis its so good to see your friendly faces and I know without most of the people like yourselves on here (and of course our IP's), life would be so much harder for many.....including myself. You are all stars and although I dont post as much i pop in quite regularly and see how much you all help others.

All the best to one and all.


Reply author: kallis3
Replied on: 26 September 2010 16:32:45
Message:

We're always here and hope to see you on here more often!


Reply author: Pennyless
Replied on: 29 September 2010 22:58:37
Message:

Just a quick update. Now coming up to Annual Review so have been requested by IP to get some supporting evidence.

Contacted NR regarding extension to "Interest Only" payments on mortgage (have to be reviewed annually) and hoping that they will extend for another 12 months. Biggest concern would be 3/4 years down the line and they refuse my application which would instantly fail my IVA as i wouldn't be able to make payments...but hey one year at a time i think.

Good luck all.

Kallis congrats on Administrator appointment...you really are another star on this forum!!!!!!!!!


Reply author: kallis3
Replied on: 30 September 2010 09:07:18
Message:

Thank you for those kind words Pennyless! I love being on here and being able to help people.

Fingers crossed that NR will extend. No reason why they shouldn't.

Hope the review goes ok as well. Let us know.


Reply author: corfu
Replied on: 11 November 2010 17:54:29
Message:

just found this post from pennyless and thought i would make a post (getting used to this posting lark) as it would bring it back into the limelight
as there is so much advice from all you lot on here to people starting the iva journey

my iva journey
rang melanie giles ip and spoke to tina
most of the paper work sent off. forms completed and have melanie ringing me tom

once again dont worry there are lots of us out there all in the same boat just ask this lot on here they are great


Reply author: MRBLUESKY
Replied on: 11 November 2010 18:04:09
Message:

hi corfu welcome to the forum.youve made a very good choice with your ip i see.good luck and keep posting.


Reply author: kallis3
Replied on: 11 November 2010 18:07:04
Message:

Mel is an excellent IP and highly recommended.


Reply author: Pennyless
Replied on: 20 September 2011 17:13:52
Message:

Hi all.....just a quick update. Coming up to 2nd annual review. Received a letter from NRAM this month stating that my IO mortgage would be reverting to "repayment" which obviously sent my pulse racing, however, after a quick call to NRAM explaining our predicement and the reason for staying on IO to fulfil my IVA obligations, NRAM wrote to say they would allow me to remain on IO for a further 12 months.......so a major relief for us.


Reply author: kallis3
Replied on: 20 September 2011 17:23:18
Message:

Good news.


Reply author: Pennyless
Replied on: 20 September 2011 18:02:00
Message:

Thankx Kallis....obviously amongst everything else the cash saved on our IO mortgage is a major contributor towards the IVA payment and I remain fearful that at sometime NRAM could pull the plug, force us onto "repayment" and thus greatly diminish our ability to continue in an IVA. Just so relieved they have gave us another 12 months!


Reply author: Pennyless
Replied on: 11 October 2011 16:20:39
Message:

Well thats the paperwork sent off for my annual review....fingers crossed for the next 12 months:)


Reply author: kallis3
Replied on: 11 October 2011 16:23:34
Message:

Hope it goes ok.


Reply author: Pennyless
Replied on: 11 October 2011 16:24:13
Message:

Thanks Kallis we can but try.


Reply author: Pennyless
Replied on: 15 December 2011 07:19:26
Message:

A quick update.

Still awaiting news on my annual review for the year but after getting through another round of redundancies earlier this year, my Wife has recently been told that she has the choice of either moving to another office (a further 20 miles away from her current office) or being made redundant (again).

Majority of her colleagues appear to be taking the redundancy package but weighing everything up, not just my IVA but also the prospects of finding another job in such bad times my wife is opting to re-locate.

I have also been included in two phases of redundancies this year and fortunately held onto my position but as things are not getting any easier with the business, again it makes sense that we both make our best endeavours to keep at least one of us in employment.

I have recently spoken to my IP at length about my Wife getting credit to buy a more reliable vehicle to travel to work and they have stated that as long as it comes from her DI (she's not in an IVA) and does not affect my IVA payment then she would be able to seek a loan to get a newer vehicle but alas her credit score is shot to pieces so that may not be an option.

In any event her trusty old Ford still has 6 months MOT left and plenty of AA cover so looks like we'll be investing in more "gaffa tape" & "cable ties" to keep her on the road.

If you didn't laugh eh.......


Reply author: plasticdaft
Replied on: 15 December 2011 08:59:33
Message:

Pennyless carloans4u I think deal with less than squeaky clean credit ratings and I am sure one of their chaps posts on the forum and a few people have used their services. Just for when the cable ties and gaffa tape run out!!!

Paul


Reply author: Pennyless
Replied on: 15 December 2011 09:27:08
Message:

Thanks plasticdaft. Will check them out. Trying to find finance that would allow to buy "private" rather than some that will only allow to buy from a "dealer".


Reply author: plasticdaft
Replied on: 15 December 2011 09:31:51
Message:

Ahh ok,I think the company I mentioned have criteria but you can go to any dealer but dont know about private sales.

Oh and I think your wife is sensible to move with work,because having a pot of redudancy money is great but only if you can get another job easily!!!

Paul


Reply author: Pennyless
Replied on: 15 December 2011 09:44:57
Message:

Quite right plasticdaft. Dont get me wrong her redundancy package would be great and in actual fact could be a substantial sum against a full & final offer in the IVA but then again I'm not sure if the "creditors" would class this as a windfall and subsequently request it as part of the IVA commitment.

In any event due to a medical condition she would have an enormous struggle to find another job, especially one that paid anymore than minimum wage and in the longterm, even if we could settle the IVA now, its highly likely that we'd struggle to keep up our payments on one wage, especially when my ongoing employment is by no way safe.

Truth be told I breath a sigh of relief each month when I receive my wages as the Company is not doing too well and I fear that one day I will arrive to find the gates locked.

Really hard times for any business at the moment but ours is logistics and even in good times the differance between profit & loss can be very fine.


Reply author: plasticdaft
Replied on: 15 December 2011 09:48:46
Message:

I think the only industry thats really booming is the insolvency one(oh and the clowns that pose as helpful companies reclaiming ppi and personal accident type ambulance chasers).

Better to try to hold on to any job you have right now. And it really will get worse before it gets better!!

Paul


Reply author: MelanieGiles
Replied on: 16 December 2011 02:50:44
Message:

It is not booming Paul - most IP firms profits are down as well, and some have been forced out of the market due to the severe reduction in fee income enforced onto us by creditors.

I agree with you about the claims companies though - but I suppose that they have to make their money where they can!


Reply author: Pennyless
Replied on: 03 February 2013 08:11:59
Message:

Well its been a while since I updated this thread but thought I'd update with a major change in circumstances.

When I originally obtained the IVA, I was advised to move my mortgage from "capital repayment" to "interest only" in order to provide the highest possible return to my creditors and ultimately make it more favourable to get my IVA accepted. I done this and Northern Rock (not only my mortgage provider but also a creditor) extended my IO period annually until Oct 2012 (at the outset NR did state they would only extend for 12 months and review it annually but they continued to extend until Oct 2012, at which time Virgin Money took responsibility for my mortgage.

Then in Oct last year I got a major bombshell and something I'd feared at the outset of my IVA. When I contacted Virgin Money (also a creditor) they not only flatly declined to allow me to carry on my IO payments but additionally raised my "capital" repayment substantially by around 400 (my pre-IVA repayment was approx 700, post-IVA 400 and new repayment was to be nearer 900)!

Possibly naively I expected that at the end of my IVA or IO period (whichever occurred sooner), then I would return to my fixed repayment terms and have any outstanding balance refinanced at the end of my mortgage to take account of possibly 5 years loss of capital payments due to the reduction over the IVA period, however, not only did Virgin decline this but added that the term of my mortgage would remain unchanged and my payments would be raised to clear the outstanding amount within my original mortgage term.

Anyway in Oct I contacted my IVA Company and they set in motion plans for a variation meeting to reduce my IVA payments to take into account my new circumstances. Thankfully at the end of Jan this year my new variation took place and my IVA was accepted, with the only vote against coming from Northern Rock.....strange as it may seem!

In essance although my IVA payments have been reduced I am actually worse off finacially, as my wife (not in an IVA) was required to reduce her payments to her creditors to take up some of the slack in my reduction in payments and also at the end of my IVA I will need to continue repaying my morgage at a substancially higher monthly cost then I originally started or envisaged, HOWEVER, strange as it may seem there is a major upside to all this........my last 3 years in the IVA have not been a waste of time and I can continue in my IVA, without the constant fear that at sometime in the future my morgage would be recalculated, my creditors decline my reduced payments and the last 3 years being all for nothing.

Fingers & toes crossed I can now continue (albeit worse off monthly) to continue my IVA repayments to completion and although the next couple of years will be harder, at least I can now for once see that small chink of light at the outset of my IVA getting ever larger as the months go by.

Sorry to all for not posting regularly for the last few months but I honestly thought that my IVA was going to come crashing down around my feet and I really couldn't face this and in myself went back into the darkness of pre-IVA days.

Anyway good luck all and appologies for the long post.


Reply author: Andy Davie
Replied on: 03 February 2013 08:38:58
Message:

Hi

It is good to read that your mortgage issue seems to have been resolved

Thank you for the update

Regards


Reply author: Pennyless
Replied on: 03 February 2013 08:53:18
Message:

Thanks Andy....since Day 1 of my IVA, next to "redundancy" I feared that returning to "repayment" could scupper any chances of succesfully completing my IVA and to have that cloud removed means I have a better chance of completing the full term of my IVA and ultimately righting my financial wrongs. To say I was elated is an understatement.


Reply author: lesley_
Replied on: 03 February 2013 09:55:27
Message:

It's the one aspect of the IVA I regret going on IO. I still am and despite IVA now finishing don't feel I'll ever get back to repayment. So I will sell and rent as being in my 50's unless there's a drastic change in my circumstance then I could never pay a mortgage off.

Glad the mortgage issue is sorted for yourself and hope the IVA continues ok for you x


Reply author: Pennyless
Replied on: 03 February 2013 10:03:31
Message:

Lesley I think to have completed your IVA and still have your house must be a wonderful feeling, after all at least you are now debt free and still have the option of selling your house, albeit that I hope you maintain that option until house prices start to regain ther value. I must admit pre-IVA I'd of given my eye teeth to be in any position that meant I could keep a roof over our heads, or at least give me a chance/option to get a fair value for my home and not have to hand it back over to the bank at a great loss.

Good luck Lesley.


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