started to look into iva's

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em_

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Post by em_ » Tue Jan 22, 2008 10:43 pm
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started to look into iva's, is it normal to pay 2 mths straight away and i have been advised to cancel all direct debit payments , as if we still pay min amount or something of balance this will effect us getting an iva
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stoney

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Post by stoney » Tue Jan 22, 2008 10:56 pm
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Hi em and welcome to the forum. Just wanted to say that you have come to the right place for help and advice. I am sure that one of the experts will be along to advise you shortly.

I have found this site invaluable in providing a fountain of knowledge and it is nice to know that you are now the only person out there with problems. Good luck. x
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stoney

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Post by stoney » Tue Jan 22, 2008 10:58 pm
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Sorry post meant to read "not the only ..." not now. Ooops spelling not up to scratch there.
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kitkat44444

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Post by kitkat44444 » Wed Jan 23, 2008 12:13 am
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Totally agree James, my washing machine went up the spout before Christmas and couldn't afford even the cheapest replacement 'cos the little contingency I had put aside had been swallowed by rising costs in mortgage interest and petrol costs! I was lucky enough to have a mum who offered to buy it for me as a birthday/Christmas present but what about those who don't have that option?!

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kitkat44444

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Post by kitkat44444 » Wed Jan 23, 2008 12:16 am
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Sorry - replied to wrong posting!! just in case you think I am going mad! Anyway, welcome to the forum Em! This forum has been my godsend as none of my friends or family know I am in IVA so its the only place I can turn to for advice or general chat. Best of luck.

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Adam Davies

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Post by Adam Davies » Thu Jan 24, 2008 1:36 am
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Hi
Some companies ask you to pay upfront,the important thing is to find out,in writing,what happens to that money if the IVA is rejected.
It is normal practice to stop all payments to unsecured creditors once you have decided on and instructed an IVA provider
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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Beechy

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Post by Beechy » Thu Jan 24, 2008 6:44 am
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Hi em

Sounds to me as though you are dealing with a broker and not direct with an Insolvency Practitioner.

It is normal practice to stop making payments to creditors while the IVA is sorted out, as long as the company you are using set things up ASAP. It normally takes 6-8 weeks from start to creditors meeting, a large part of this time is statuary notification periods to creditors.

I you want any further advice, post the questions here and I am sure you will get the answwers you require

Dave Beech
http://www.adcrofthilton.co.uk
Last edited by Beechy on Thu Jan 24, 2008 6:52 am, edited 1 time in total.
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