I did the same as well, emptied the whole bank account just leaving the overdraft, which was one of our creditors. I felt a bit guilty, but in the other hand I asked the bank for help and they refused before we went down the IVA route. You've done the right thing by emptying it. I kept hounding my place of work to ensure that on the next pay day I was paid into the correct account, and just told them that no way could my salary be paid into the old account as I was closing it, they do not need to know anymore than that. Thankfully everything did go smoothly. My friend who is a Debt Managment Plan (DMP), has not been so lucky and her workplace put the wages into the old account, which had bank charges, they took over £200 from her and there was nothing she could do about it.
Sam x
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
I also agree with you. It feels a lot better, and although money is tight, I go to bed now with not worrying how I am going to move some money from one account/credit card to pay another - you know what I mean!!!. All the money left over now is ours and it feels good to be paying with cash.
Sam x
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
Hi Sam,
I too asked the bank for help as they could see I was struggling each month, as one of my c/cards is with them too, but they really didn't do anything to help. Considering I had banked with them a long time, and until about 3-4 years ago had been a good customer , but fell into difficulties when my relationship broke down, I thought they would have been more supportive and assisted me with a solution. I know IVA is not a soft option, and I wouldn't be going down this route if I could easily pay off my existing debt. I know it will be a fairly tight budget, but at least I will be making some headway into paying back some of my debt. I have another question you may know the answer to, I am just about to send out my letters to my creditors, should I send these recorded delivery or does it not make a difference?
It won't make any difference really whether you send it recorded or not. If it will give you peace of mind, then do so.
The call centres are still likely to say they haven't received anything.
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
Does recorded delivery cost more? If so dont bother and as Jan has said some creditors would deny receiving any letters if the Pope himself drove up in the Popemobile and hand delivered them!!!
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Don't forget that your IP will be letting the creditors know as well.
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 agree that however you send them, some will deny they ever arrived! I was just looking through other posts and noticed that some guys had sent them recorded. I think I will just send them normal post. I'm expecting the calls to start shortly anyway as some payments are due on the 1st. Not looking forward to that, but I know it's part of the process.
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
Save your money on the recorded delivery and send them everyday post, this period will pass but it can be a little bit stressful for some but you can get through it and remember we're all here to help.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I agree with the others, no point in costing yourself more money when the creditors probably will deny receiving anything anyway. Thankfully for us, we did not need to send the letters out, as the Company we were using did that for us, just had to deal with the calls.
Again, the same as you, up until our financial difficulty, or even up to the date when the IVA process started, we did not miss any payments to anyone, and had banked with that Creditor for over 10 years, but they still would not help, and guess what they never even voted for the IVA, but obvioulsy now have to agree to it.
Sam x
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
We'd banked with one of our main creditors for over 25 years - they wouldn't help us at all. There's no such thing as loyalty anymore.
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
