I would be grateful if anyone could arrest some worries/fears.
I have decided that an IVA is the way to go for me, it has been a little reluctant but has been heavily influenced by factors beyond my control.
I have a couple of (probably) silly questions.
I have this nagging worrying feeling all day every day at the moment in the pit of my stomach. What are the best ways to deal with creditors initially whilst going through the initial process? they are obviously going to chase me? what are the best things to say??
Also, a very different question, if my partner and myself want to move at any point as we are private tenants, are we going to be able to?? or is it going to be nigh on impossible with credit checks etc etc??
Glad you have realised that you have a problem and are looking at a a way tackling your problems - we've all been there!!
Don't worry about not paying your creditors - yes, you will get hassle but you can ignore it. The money you would normally pay to them you can build up as a contingency fund so youn have something to fall back on if you need it,
You can either ignore creditor calls or just tell them you are going for an IVA. They will threaten and bully you but they are just call centres at the end of the day and their threats mean nothing.
As regardss renting - if your partner is not part of the IVA then renting should be ok but, if he is linked to you in any way then it could impact on his/her credit rating.
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
It is totally normal to feel guilty and ashamed - we have all been there.
Don't worry though - you are doing the right thing now by sorting things out and you can hold your head up high,
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
Thank you for your reply, my partner isn't financially linked to me in any way and she is being very supportive too. I just keep feeling I have let her down. I am dealing with CCCS, they are recommending that a make a small, nominal payment to each. Is this advisable? They have also said to send a letter saying that I will be doing this. Is this sensible?? It just seems like I maybe stirring up a hornets nest. Or, on the flipside, if I tell them my position and what I am doing is that likely to temporarily appease them??
A good IP firm will take the stress and burden of dealing with unsecured creditor issues from you in the run up to an IVA. It should all be part of the service and a necessary part of what we do. Most IP firms take a neutral stance between the interests of creditors and debtors - so do expect the professionals you choose to act for you to act accordingly.
With regard to the ability to rent again, this will be entirely at the discretion of individual landlords, but there is no reason to suspect that this will be impossible. Many of my clients have been able to rent with both private and commercial landlords, with the backing of a positive reference from me about their conduct to date within the IVA with regard to this priority payment.
It is totally up to you whether you make a nominal payment or not. The vast majority of us don't and will make no difference to the outcome of the IVA meeting at all. You will still get letters and phone calls once you fail to make normal payments.
You can check out other firms, www.iva.com is the place to go and see the reviews some companies have. Give one or two a ring for some free advice.
The experts that post on here come highly recommended 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
Welcome from me too.
Personally, I did not make nominal payments, but put the money I would have paid, into a contingency pot for emergencies later. Have you opened a new bank account yet? It needs to be free from any of your creditors. As for feeling ashamed, yes I did, I wondered how a strong independant person could have got themselves into such a mess, however also was very proud that for the first time in my life had acknowledged that debt was a real problem for me and was doing something about it. Be strong, and all will be well.
I completely feel/felt ashamed at my position, but I think it's important to read these threads as you soon understand these feelings normal and you'll get a lot of support. We are only human and we should give ourselves a break.
I am also a very strong and independent person which I think stopped me from getting help a long time ago, my bad.
I still am unable to talk about it face to face (except for my wife who has been great)
Hi jsb welcome to the forum. It is a worrying time all round and can be nerve racking knowing what to do for the best. The forum is great for support and some answers - everyone on here will be there to support you along the way. You will feel a lot clearer on things once you have had a good chat with a couple of companies to understand everything involved and know what to do next. A good company will make sure you are comfortable moving forward and will always be there to answer any questions you have.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by jsb1983
I have a couple of (probably) silly questions.
[:)]
Wecome.
No question is silly on here,if your thinking about it ask. there is always someone that will help you.
we have all had the same felling as yourself at some point.
I never paid any think when setting up mine, Did not get many phone calls and if one did call would tell them to phone my iva company.
IVA now over with and it was worth it.
now starting my life again,
No point at all in making nominal payments - I did this initially for one month but my mobile phone was alight every 5 minutes irrespectively - appeasement doesn't come into it. I just stopped answering or taking any calls.
If you want to know whether anyone cares if you're alive or dead - just miss a few payments....
I am with Clr Dbt and they have been very good indeed so far with none of the probs that sometimes pop up on these boards.
yes guilt & shame are v normal emotions. it's a stressful,horrible time but things will get better.
i couldn't cope with creditors,we forwarded all letters onto our IP (Melanie Giles),her team delt with them. i didn't even answer the phone - couldn't cope with them,my husband did though if at home.
have you spoke to more than 1 IP firm? usual advice is to talk to 2 or 3 before choosing?
we felt terrible but paid NO token payments,it'll make no difference. save every spare 1p now for your emergency fund - cars etc always go at some point.
open a saving account as well as the basic bank account.(we put £ for clothes etc away to stop us just spending it).
Nothing stays the same...everything changes..hang on in there!
Thank you all for your kind words and advice. I have spoken to a few different places and decided to go with CCCS' IVA department. I am up to the stage of signing the document to allow them to represent me then will be sending in all of the paperwork. From the conversation today, I think mine may take a little longer to set up due to needing a couple more 'clean' bank statements. My IVA scenario has been brought on by my ex-wife having to enter one, we had a joint loan which she has stopped paying meaning the creditor is seeking the full payment from me only! I think the phrase "the straw that broke the camels back" is rather fitting. I have always managed to cope with my debts but it's untenable now. Having not known any of this 2 or 3 months ago, I had placed a few bets each month online, apparently this is somewhat frowned upon. To me and any other normal person, the quantity was well within reason. Would it still be an acceptable length of time if it takes 3-4 months to set up?? It is a bit of a blow, but I could never have known the position I was going to find myself in if you see what I mean.
