Set-up stage ... calls coming in!

[alittlebitlost]

Hi, everyone, I'm new to this.

Forgive me if I'm asking a question that so many people post but sometimes it's a bit of 'wood-for-the-trees' syndrome I suffer when trying to find the answer to a question that may seem obvious.

I'm in the process of setting up an IVA, just waiting on the draft proposal (large document) to arrive for me to look at. The calls are coming in and I worry that, although I've largely ignored a number of them and mainly delt with my IP, it will jepordise the success of my IVA if I don't speak to them.

One of the banks had a phone call from me a week or so ago to explain the situation and that I would ask my IP to contact them and they said they would cancel any charges accrued. I'm still getting letters (and phone calls, one this morning - which was an answerphone message and the number given is wrong anyway) saying I'm clocking up charges. I'm presuming it's their way of getting to speak to me so they can get money from me.

Can anyone advise on the phone call situation, please.

Thanks,
Baz.

[Michael Peoples]

Hi Baz. It does no harm talking to creditors but refer them to your IP. Charges and interest are not a problem as you can only pay so much so they just reduce the overall return.

Hopefully it will be resolved soon and you can relax, but in the interim there is little that can be done to stop the calls. Best of luck.

[alittlebitlost]

Thank you Michael, I really appreciate the advice.

Sometimes just a few sane words from someone in the know can do wonders for helping to sleep a little better.

[futureisgood]

I wouldn't worry about it - the people who make the decision on your IVA are far removed from the call centre staff who ring you. In fact, in my case Barclays was decided by KPMG, M&S Card was decided by The Insolvency Exchange and so on - I talked to nobody, put choose to refuse on my home phone, when they rang my mobile I told them it was the wrong number and never to call again - and they didnt!

[Jan01]

I just said thank you for calling I aware of my situation and I am in the process of setting up an IVA please would they speak to my IP and gave them the number thank them and put the phone down. It didn't stop the calls but i was never rude realising that the people who are calling are only doing their job.If things got too bad I just let everything go to answer phone. I was lucky they didn't get my mobile number or phoned me at work. I still now do not give people my mobile number.

I was also lucky as soon as the IVA was approved the calls stopped--which was such a relief.

Look luck with the IVA

Jan

[alittlebitlost]

Thanks to you ALL for your replies, it really does help to de-stress a bit.

I'll take on board all of your suggestions, hopefully not too long to go. Within the next 3 to 4 weeks I should know.

Regards and best wishes,
Baz.

[kallis3]

I didn't speak to mine at all.

Don't worry about the charges,as they will all be included in the IVA.

Hope you get a meeting date soon.

[MelanieGiles]

We speak to them all the time, but generally this makes absolutely no difference to the amount of letters and phone calls they will subject you to. There is only one real way to stop this and that is to get the IVA proposals in front of them as quickly as possible.

[alittlebitlost]

Hi Jan/Melanie (and to all the other posters too),

I suspected it was generally the case that any amount of conversation with these people would, to some degree, fall on deaf ears - they want to have the conversation with the person owing the money, so that they can convince you it's THEIR situation that requires the greatest attention.

The last few days (when the calls have become quite heavy) taught me that. All the comments and advice on here (plus some from the financial company I initially spoke to) has really helped strengthen my resolve, I was faltering a little and wanting to ring these companies to explain.

Even though some play innocent to the situation ie. they weren't aware, until I called, that an IVA was in the planning stage. I have learnt that they will ALL be aware to some degree of what's happening - so I'm not falling for that.

I know in my own mind I'm going through the PROPER channel to sort the situation and I know in my own mind I do WANT to pay my debt, and get on with it as soon as possible.

You're all a credit to this forum and for giving people hope that it's not a black hole we're falling into.

A heartfelt THANK YOU for the fact you ALL care!

Baz

[kallis3]

Hi Baz,

We all care because the majority of us have been where you are now.

The creditors use call centres to try and bully you into parting with money, they mostly have a script that they work to. They will say anything to try and get money. You just have to stay strong.

You are doing the best thing and are doing your best to pay back some of the money you have borrowed, and that is to be applauded.

Any support or help, we are here. Keep us informed as to how you are getting on.

[alittlebitlost]

Apologies for the late response here.

Thanks Jan for your nice words. There would be a lot of VERY lost people here (me very much included) without a forum of such great people.

My IP is very good but sometimes it the small emotional issues that can, when faced with pressure, become the big heavy issues.

I'll sure keep you all posted with any news.

Just one thing - while I'm in this 'in-between' stage of still waiting for my proposal papers to arrive before I can read and sign. Do I still avoid making ANY sort of payment to creditors (because of the danger of a preference)?

When I get paid, prior to (hopeful) agreement of my IVA, am I legally obliged to distribute my 'spare' (well, what seems like it, when I'm in the IVA it won't be) cash?

Any advice here would be much appreciated.

Baz.

[simon38]

Baz, I'm currently having my propsal drafted and I am starting to get the phone call battery also.It's going to intensify because I have only just last week started cancelling direct debits so I can put money aside for contingency (ie my car is due mot in 2 weeks and I know it's not going to be cheap, credit card would normally be have taken the burden of this!). I asked the same question of the forum about payments to creditors in the interim period, the advice was to put aside contingency. At first, I hated the thought of this and still do to a degree, but I can tell you that after a few days of feeling sick about it you start to realise the sense in what you are doing by holding back some money. The important things to remember:

1. Treat ALL creditors the same. If you pay nothing to one you pay nothing to all.
2. If you are going to make token payments make sure they do not total more than your 'disposable income', your IP will have told you what this is.

PS. I am not an IP, what I am doing is my interpretation of the advice from the expert forum.

Hang in there Baz and I will try to do the same!

[alittlebitlost]

It's great advice Simon, many many thanks.

I'll put some aside. I've got necessities like my car insurance due, but I pay that on a month to month basis - it has been budgeted for - so I presume things like that I can still continue to pay on a monthly basis. I need to have my car for work anyway.

Chin up fella, we'll get there, rocky pathy initially with a few sharp crags to negotiate!

I'll be with ya too

[simon38]

Baz, I took a phone the first call from Capial One today. I knew it was them because I recognised the number, I was ready for it. The woman on the end of the phone pointed out I was in arrears and that I must make a payment £400 quid now or face charges. I told her my financial adviser was writing to them and they would hear in due course. She of course persisted and went on to the next set of questions dictated by her screen. Every time she asked a question or made a leading statement I very politely and calmly stated my 'Financial Advisor, Melanie Giles, will be writing to you in due course'. This went on for about 5 minutes then when she realised she was beaten she very nicely thanked me for taking the call and hung up. Easier than I thought, felt quite good actually.

I think the trick is to stay calm, be polite and know exactly what you are going to say before you answer the phone. Plenty more opportunities coming over the next couple of weeks for me to practice this

[Shining]

Have a script maybe? it worked for me, I knew my IP's contact details off by heart in the end. Every phone call got the same message from me or my husband, luckily none had our work numbers and some did have our mobile numbers but most of the time we'd put this on silent if we didn't want to be disturbed.

Be polite, be consistant and don't let them talk you into making a token payment to stop this or that happening to you, generally you're talking to someone in a call centre.

I think that to accumulate a little contingency before IVA acceptance is a good idea as it's a good start for any unforeseen eventualities that may/will happen during your 60 month journey. x