www.iva.co.uk

I am in the process of applying for an IVA through one of the companies that use this forum and am very happy with the service, but I have a question (well a few) and of course I leave the question until this holiday period! Question is as follows: When you are applying for an IVA, at what point do you make the first payment? Is the first payment as agreed or in any way back dated?

Happy new year

Confused of Norwich

Hi, I made my first payment the month after my iva was approved. I chose the date in the month that suited me best. I have read on tis forum that some companies ask for money up front, I think this is so the debtor shows some level of commitment to the iva and whatever is paid up front is taken off the balance.

Hi there and welcome
This can vary between companies. Your first official payment to your iva is due within one month of the date of your meeting. Some companies like to see a payment made previous , to take to the table and show willing as such. Best person is to ask your company and they will guide you.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

Hi
Some companies ask for one payment before the IVA is agreed and this is to show that you are committed,and is a fair request.
This payment can then be used as your first payment once your IVA is accepted.
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

IVE PAYED ONE PAYMENT AND LOOKS LIKE I WILL BE PAYING ANOTHER ONE BEFORE MY IVA IS DONE AS DUE 1ST JAN NEXT PAYMENT

S WARD

Hi
Do ypou know what happens to your payments if your IVA is unsuccessful ?
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

Hi
My meeting was the 27th December and my iva was approved. My first payment is due approximately one month after the meeting date. But I could choose a date for the standing order which suited me the best within reason.

APPARENTLY MONIES PAID WILL NOT BE REFUNDED

S WARD

Hi
Well what incentive do they have to hurry your IVA along ?
Speak with your IP and find out where they are with your proposal.
When did you start the ball rolling with your IVA provider ?


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

I would have been very worried about paying money up front if I was not assured it was going to go into my iva on acceptance or be returned to me if my iva was rejected by creditors.
I paid one months in advance of my creditors meeting to, as others have said, to show that I was commited to my iva and when my iva was accepted this constituted the first payment.
The second was set for that month at a date that suited me, I chose the day after I am paid so it goes out straight away and I know where I am for the rest of the month.

Hey caraf - hope you are happier now you have been accepted and come back down to earth. 2008 looks to be a much brighter year for you now...Good luck. Emma

MY LETTER AND INFORMATION WAS SENT ON THE 9TH NOV EVERYTIME I PHONE ALL INFORMATION IS BEING CHECKED AND WILL HOPEFULLY BE OUT TOMORROW LEFT ANOTHER MESSAGE YESTERDAY. COULD BE TAKING SOME TIME AS DIDNT HAVE ALL CREDIT FIGURES TO HAND AS A LOT OF CREDITORS STOPPED SENDING ME STATEMENTS WHEN I WAS IN A DMP

S WARD

In yur situation where the money is not refundable I would advise don't pay! In an IVA or pending IVA situation you cannot afford to loose this amount of money!It could mean food or no food!

Lulu