Hi I am just about to try for a iva some one is coming Monday to scan my paper work do i still have to carry on paying the creditors which i cant really afford to y I waight to see if i am excepted for iva
Part of the process will be to stop paying and dealing with the pressure until the iva is agreed.
If the company you are using has c and f in their name I would consider using someone else.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Agree that you don't have to carry on paying the creditors.
Which company is it? Make sure that you are happy with them.
Speak to one or two more. Andy Davie/Vincent Bond (details under the expert link on the left hand side of the page) can be contacted for some free advice.
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
In answer to your posting - I personally did not pay any creditors when I decided to proceed with my IVA. Built up a contingency for when my IVA began.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
You will need to stop paying creditors once the IVA process starts, and like others have said put the money away for a contingency (my boiler needed repairing a couple of weeks before my IVA was approved so it definitely came in handy). Your creditors will start hassling you once payments have stopped, but tell them you're starting an IVA and they should back off. Good luck, it's a massive decision to make but you're doing the right thing, it was the best decision I ever made.
Once you have spoken to your IP and decided to go with the iva,then stop paying your creditors,get a new bank account that you don't owe money to (we went with nat west).
When the creditors start to call you just tell them that you are going into an iva,tell them the company which you are settling the iva up with and they should back off.Also tell them that they must deal with the iva company from then on
Today 1st of December 2016 the vultures finally flew away
