Hello everyone, my husband and I are just in the process of applying for IVA and i am so worried now. We've been reading the posts for a while now and 'lurking' but never actually posted. We sent our signed documents back yesterday and I suppose it's the wait now to hear when our creditors meeting will be scheduled for? Can anyone tell me how long between signing the papers and hearing the date for your meeting? I hope not long as i feel that the last 3 months have been most stressful! Really worried about everything, feel that our debt is really high and dividend low compared to other people here.. Anyway, just wanted to say hi and hoping to participate now on the forum as have learned a lot from here over the past few months,
Im unsure as to date of creditors meeting but im sure someone will be along shortly to answwer this
Most importantly , have you set up a new bank account with a different bank than the one you currently use ( assuming you may have an overdraft or credit card debt with your current bank ? )
When i was at the point you currently are, I stoped making min payments to creditors and started making token £1 payments and tried to save a little cash for rainy days ahead ( didnt last long i hasten to add )
Remember your IVA co deal with identical situations day in and day out and would not have made your proposal if they felt your creditors would reject it.
out of interest who have you chosen to deal with your IVA
Best wishes and remember to use the forum to seek reassuarance , but chin up, youve taken control of your debts and are on the road to being debt free in a few years time
Last payment made April 2012
Certificate received 1st Nov 2012
hi viki, i think your meeting date is usualy about 14 days after your ip receives you paper work im not 100% on that though.im sure they will be in touch very soon with the date and time. Good luck.
Hi Viki and welcome, that horrible sinking feeling really does turn into a high once you get the meeting out of the way and you know for sure there is a way out of the debt. Your IP will not submit anything to the creditors that have not been scrutinised and re scrutinised, takes a few weeks but your IP will have the best possible and workable plan to lay before them at the meeting. Good luck.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
hi vicki welcome to the forum. i have and still am a lurker hardly ever posting but find it a very useful site. there is always someone wiling to answer your questions if they can and so many kind words given, nobody ever judge's you. wish i had found this forum sooner. good luck [8D]
Hi Viki
I remember being in your position well. I only had my creditors meeting on Feb 22nd. I got my date through 4 days after sending off the forms and it was set for 13 days time from when I received the letter so it will not be long for you now. Im with Grant Thornton. Who are you with? My IVA was accepted no problem but like you I was worried about it being accepted. This is the hard bit the organising of it all and the waiting but Im sure things are about to get much easier for you.
we got into debt by just living beyond our means since having children and borrowing form Peter to pay Paul. Now we have a budget and I take pride writing down what we spend now and sticking to a budget which right now seems very do-able. Good luck and welcome
Hi Viki,Welcome to the forum and don't worry,we are all here to support each other whenever we can.
We have only been in our IVA for a few months so know exactly how you feel at the moment.It only took a few weeks from sending our proposal back to our creditors meeting.I was a bit wobbly near the time I can tell you!
Wishing you the best of luck.
Hi and welcome to the forum from us too. I think our process from the intial phonecall to the actual meeting was 6 weeks. good luck from us and keep us posted x
Hi Viki
nice to have a newwww member, welcome to the forum. I look forward to hearing how you get on over the coming weeks. Anymore questions, just ask
best wishes to you both
Rich x
"Always remember that the future comes one day at a time."
IVA completed . Just started a blog, if you get chance please take a look. http://rich.blogs.iva.co.uk/
Hello everyone and thank you so much for the well wishes. We got the date through its the 27th March, 2 weeks today!! I just want it to happen now, as I feel I can't worry any more. Got that 'sinking' feeling in my stomach and just feel like I can't do this any longer..
To answer some questions you guys raised, we are with Melanie, we decided to go with her company after reading so many positive reviews here. As I mentioned before, I was a 'lurker' for a long time before!! We have approached our creditors towards the end of last year and are already on payment plan with them, but since then have change in circumstances again (reduced salaries etc.) and also we didn't budget properly so we are struggling. The only way we made it through until now is because we had a mortgage payment break!! We have a bank account with Santander as they were not our creditors and have moved everything over to them from our accounts with Lloyds which we had overdrafts on. The Santander account have no overdraft, do you think we will be able to keep this if we do get accepted or will they kick us out regardless because we're in IVA? In which case we need to look for another account, but I dont think we can go with anyone else as they are all either a creditor or connected!
Thanks again for your support guys, it makes me feel not alone in this!!
Hi Viki and a late welcome from me too. I think many posters have accounts with Santander with no problems. Many also open a co-op cashminder account "just in case".
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
