www.iva.co.uk

hi ,i have been in a dmp with payplan for 3 nearly 4 yrs ,but one creditor threatened to take my home unless i agreed to their repayment sheme ,i was very frightened and agreed as i had just had my second baby ,who was born with severe health problems .i have therefore been paying this creditor seperately to my dmp ,payplan are aware of this but are not concerned and all my creditors are happy at the moment with my dmp ,but now i am in the process of applying for an iva should i stop the direct debit to this company as they are receiving much more than my other creditors ? should i also continue with my dmp until my iva proposal is ready ? thankyou again for any advice . kind regards .

Hey depressed, that's complex and deserves a response from the experts. I know there are issues about preferential treatment of creditors and suspect you'll be advised to find a good IP and take direction from them.

Vetry best of luck finding the right way forward,

Martin

I think your company are the ones to answer this for you. As Martin says it is usual not to show preferential treatment to any creditor. Speak to whoever is dealing with your iva first.

Ang

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

How on earth do Payplan justify one creditor being paid more than others, when a DMP is supposed to provide pro-rata payments to all creditors? Andrew G - can we have the benefit of your expertise on this one?

You should take your own IP's advice as to whether to stop paying this aggresive creditors. Are they owed more than 25% of your overall debts? If so, they may not accept the IVA if they feel that going after your property brings them advantage. Are you prepared to name the creditor, so that we can advise further?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi Melainie yes its shoosmiths on behalf of natwest i owe 180,000 total and this debt is for £16,000 .Its been a nightmare trying to pay them every month ,ive had to sell possesions and all sorts ,feel i have been badly advise by payplan from day 1 ,the dmp should never have been an option all its done is bring me constant worry and stress from creditors and interest has been added to so many accounts ,i wish i knew about ivas three years ago ! was'nt even aware they exsisted till recently . thanks for your help .

sorry melainie did'nt make that very clear at all ,i owe 180,000 in total to all of my various creditors along with my husband and owe shoosmiths £16,000.
not with it at all today . thankyou again .

How much are you paying each month to Payplan?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi
Terrible that you have been bullied into this and Payplan have sat back and let it happen.
Who aren you using to propose your IVA ?
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 i'm using mccambridge duffy ,i have just come off the phone to them ,they advised me not to continue paying this creditor and to refer them to them directly ,i have been paying £600 per month to payplan and £100 per month to this creditor so no wonder i'm broke !!!!i can't wait till this is hopefully all over ,i'm having to give up our home anyway , to offer in lump sum payment ,this will offer around 40 p in the £, so i wish i had known about ivas earlier feel like ive been in limbo for 3 yrs ,some of the debts have come down but others which started out at £150 have grown to £600 .I pray that my iva lump sum is accepted i'm so ill with worry ,keep been sick .
I overdosed in 2004 when i thought the creditors were going to take our home ,i was in such a state ,my second daughter was born disabled ,my husband had an affair and debt was killing me ,i know thats not the answer now ,but its easy to feel so low ,especially if you have no one to turn to . I feel so much stronger now ,this forum has helped alot ,i am so grateful to all your advise .
my baby is due in 6 weeks and i have that to look forward to ,although i have my iva to try to sort out at the same time ,so many creditors ,got to collect all account numbers and balances however don't receive statements anymore for alot ,but i do have account numbers hopefully my ip will be able to help me collect the balances .I hope 2008 brings luck for all of us .

Hi depressed.
I hope 2008 is a great year for you. Certainly a new baby is a fantastic start. congratulations.
Your Ip will be able to get final balances for you so dont worry. The main thing at the moment is too look after yourself.
All the very best to you and remember we are always here even if you just feel like a bit of a moan.


Ang x



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

hi ang ,thankyou so much ,thats cheered me up ,i'm trying so hard to sort everything to give my 3 children a happy life .Just feels like so much to sort out ,baby due ,house to sell ,property to tidy up and rent etc iva to try to set up ,loads of paperwork ,husband self employed so all accounts to sort out,but yes i'm glad ive started to look forward now.

Well done for keeping going.

Just had a thought, you said you hubby is self employed, does his business have high and low in his income, because if it does you need to mention this so when the cashflows are done they reflect this. It will also mean that you payments in to the IVA can be adjusted to reflect the highs and lows

Beechy

Each little bit you start to sort will make you feel that bit better, believe me. I hope this year that name depressed changes to something more like contented.

Ang x

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