I am worried that I was asked to close my bank account and close my direct debits before going into an IVA . This I did and reopened a new basic bank account. Obviously I am now getting letters saying that payments are not being met and threatening me with default notices and of course charges . I have recieved no phone calls from any of my creditors as yet but it's very worrying . Letters have been passed on to the company helping me and they say not to worry about them . Easy for them to say , they are not recieving them !
I was actually up to date with all my payments and have never defaulted before with any of my creditors , but the last 2 years have been very hard (losing over £400 a month due to loss of overtime) and its either go the IVA route or bankrupt. My advisor says IVA so I am following their suggestion .
Sorry , just needed to sound off as I have no family to talk to about it .
Hi and welcome to the forum. Has your I.P sent letters to the creditors outlining your IVA Proposal?. How many months have you now missed payments?. And at what stage of the IVA proposal are you at?.
The letters etc. are of no consequence. If your IVA is successful all your creditors will be bound to the agreement. I have received calls and letters and replied where I can but it doesn't make that much difference They are automated calls and letters and will keep coming until their computer systems are updated.
I wouldn't worry about calls - I was upfront from the start and told each creditor my situation. They have all been good to be fair. What choice have they got after all?.
Hang in there and good luck - keep us posted on the developments with your IVA. This forum is excellent!.
Last edited by winter_blues on Sat Nov 06, 2010 6:29 am, edited 1 time in total.
The letters are just standard ones which all the creditors send out and are nothing to worry about.
Which company are you using?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Unfortunately, this is unavoidable and you are applying for an IVA because you cannot meet ongoing payments to your creditors any more. Hopefully the IVA proposals will be finalised shortly.
Thanks all .
I think I just needed to sound off a little as I am finding it quite stressful having nobody to talk to about it .
The Iva is being handled by V Bond and to be honest they have been very good and informative. At the moment a draft IVA has been sent to an IP so it's very much a matter of waiting now to see what will happen .
Hi you've got us on the forum as all of us have been through a similar situation. Come here whenever you need to and hoping your date isn't too far off x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi
The period you are in now, beween submitting your documentation and the creditors meeting to me was the hardest bit, so do stick in there. As you can see, you are not alone[:D]
Hi Shane, I just wanted to add my best wishes and please try not to worry.
Most of us had never defaulted before going into an IVA, so the letters are quite scary.Use the forum for support through this difficult time..its not easy when you have no-one to talk to, but rest assured there's always someone around on here. xx
Hi Shane, welcome to the forum,
We got letters and calls from our creditors for 4 months after our creditor meeting, it takes a while and a few threats from our IVA company to get the computers updated, so be prepared for the letters and calls to continue for a short while afterwards as well.
It is a wonderful sense of peace when they all stop though, just gets depressing when we see the postman walk past our house again feels like no one loves us now. [:D]
If life is what you make it, I must have been in a strange mood when I made mine
Thanks all for the support . I really appreciate it a lot.
Apparently my bank left a message on the works answering machine for me last night , I have not heard it myself as I will not be back there until monday . Also as my work is manual I have no reason to be in the office to take calls anyway so it's a bit pointless them calling me there .
We will see what transpires on monday as I really do not want them pestering work about my (now) defaulted account .
Would it be a good idea to write to them all telling them of my intentions or should I just let it run its course and let the IP handle them as needed ?
You can do , that's what I did - It won't stop the calls but at least you have informed them.
Your I.P should have written to the creditors as well. The phone call at work is not good that's why I like to keep them informed and update their systems. Call centre staff can put your account on hold and updated which will stop the calls for 10 days at a time.
personally, I wrote to all my creditors too and was lucky they only had my home tel no and was out between 0700 and 1700. If you take calls from them at work you could ask them to remove your work no with for example a promise that you will always answer your mobile or home phone at certain times of the day.
Hi Shane - most of us have few if any people we can talk to about our debts in "real life". So this forum is a lifeline. There's always someone around to talk to and many of us are on here everyday! So just keep posting when you have a down day or a question or even a good day for that matter xx
