I'm waiting on a via creditors meeting on the 31st But I have payments due before that date. Should I pay them ?
I've been told not to. But I'm worried that if my Iva get rejected I'll be in a worse position
If you could afford to pay the creditors there would be no need for an IVA so I cannot see how you could pay creditors. If the IVA is rejected you could resubmit the proposal, enter a DMP or petition for bankruptcy. The one thing you could not do is go back to repaying creditors their contractual payments as otherwise you should never have proposed an IVA in the first place.
I hope this makes sense and I am sure you will be fine anyway.
I never paid any of my creditors prior to the IVA and used some of the money to put aside as a contingency fund.
I am sure that you will be fine stu.
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
I just never answered the phone or the letters - just ignored them.
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
You can do but, they can always re-instate it as HSBC did with me even when I switched banks and cancelled it with the new bank.
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
Believe me - the creditors can, and will, reinstate it. They control the DD rather than a Standing Order which is under your control.
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
If the loan is paid from an account with the same bank it can be difficult to cancel. However if you have opened a new account with a different bank this should not affect you.
