Reading some of the messages on the forum re creditors tactics I think it is going to be a bumpy ride!! I have not spoken to my creditors about the proposed IVA, I have not missed any payments to date but have now cancelled DDs so they will be aware. What can I expect? (to be forwarned is to be forearmed)
Once you have decided that an IVA is the correct way forward, the IP you have chosen to represent you will immediately write to all of them to confirm that they are acting.
This does not always stop them ringing/writing to you, but the sooner the IVA is in place the better.
Thanks Melanie we are getting all paperwork to gether to send to IP to get process started so fingers crossed we are on the right track.
When and where is the next frugal friends meeting?
Your creditors will probably start ringing and writing to you within a few days of your first missed payments - they are very quick on the draw with this!
Don't be bullied into making any payments. They are call centres, working on commission and they will try anything to get money out of you. Some will even say that your IVA won't be approved - don't b taken in by this.
If you have caller display you can ignore the calls, you can answer and just politely tell them you are seeking an IVA, or change your number.
I never answered the phone calls, but I did keep them informed by letter.
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
Hi
The secret is to keep all your creditors in the loop about your proposed IVA. Some will take notice and leave you alone altogether, some will want updating on a regular basis and others will call you each and every day, sometimes several times a day and just chase you for a payment.
Just stick to the advice that you have been given by your IVA provider and focus on getting all the required paperwork back.
Regards
