Hi Everyone,
Received my IVA starter pack this morning - Did not realise that I would have to make a payment straight away before the process would begin, I thought you commenced payments once the IVA had been accepted?
I have cancelled all my direct debits, already received two letters from one Creditor only after 2 days of their due payment, therefore hence SO IT BEGINS! I think so far this is the worst part, as I have not ever missed any payments before (how I do not know). I have already changed bank account with someone else, now in the process of trying to set up direct debits. Unfortunately with O2 I have not got enough time before they require payment, so will have to pay cash which I havent got....I am sure everyone on the forum who started IVA route had the same problems?
Hey HurtPride, if you haven't yet missed any payments and you are quite far down the IVA route then you will probably miss a lot of the creditor hassle. I missed eight months and had phone calls all the time and a debt collector out to my house. You have acted quickly, just explain to the creditors when they phone and they should agree to holding the calls for ten day. They did with me but not everyone has been so lucky. Good luck with your proposal.
Some companies do require an upfront payment, but this is usually when you have done your proposal. How much have you been asked for?
We've all been there not paying creditors. It's not nice and the hassle is stressful, but at least you have taken that first step towards sorting it out.
Which company are you going with? It's not too late to go with a different company if you are not happy with having to make a payment now.
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,
Received my proposal this morning, need to look through over the weekend and return to start the IVA ball rolling - Company I am presently with is Thomas Charles, 1st Payment is for £239 and next month the same amount...do not really want to change over to anyone else has the Consultant I have been dealing with is so helpful, friendly and I can speak to her any time of day etc.
Good luck with your application and let us know how you get on.
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
Visit Www.IVA.com where you can see and choose from good reputable firms. Some firms can ask for an upfront payment on the basis that they claim to give better customer service. If you do proceed with a company that charges up front payments, make sure you are happy with their customer service and that the amount is refundable in the event that the IVA does not proceed. ThomasCharles is a reputable company that generally has good feedback. Make sure that you have spoken to a few IVA firms before you proceed (check IVA.com as suggested).
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Hi
Many people on this forum have been with Thomas Charles over the years with very good feedback.
I would stick with them if you are happy with your contact.
Good communication is a key to a successful IVA
Regards
We started our iva with Thomas Charles and we had to make two payments of £1000. This was for them to prepare our iva and advise us through the next few weeks. Our details were then passed on to Melanie who is now our IP. We now make payments of £900 a month. Not sure if we would have had to make the first two payments if we had gone directly to Melanie. We found Thomas Charles very helpful and friendly.
I always like to see the first payment paid in advance as a demonstration of commitment and affordability. But this is paid once proposals are finalised and not at the time a client first instructs me.
