To pay or not to pay?

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kallis3

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Post by kallis3 » Wed Apr 11, 2018 4:59 pm
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Good luck!!
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
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mumof3

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Post by mumof3 » Thu Apr 12, 2018 9:04 am
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Hi! We are in our first month of our IVA. Once we decided to go ahead with an IVA we stopped paying the creditors. We rang them all explained what was happening. Most of them put our accounts on hold for 30 days. This gave us a contingency fund which we have already had to dip in to (car repairs etc) so it has helped. We thought our IVA might not be approved due to a low monthly payment but with the modification of an extra year added it went through no problems.
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stmw

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Post by stmw » Mon Apr 16, 2018 8:47 pm
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mumof3 wrote:
Hi! We are in our first month of our IVA. Once we decided to go ahead with an IVA we stopped paying the creditors. We rang them all explained what was happening. Most of them put our accounts on hold for 30 days. This gave us a contingency fund which we have already had to dip in to (car repairs etc) so it has helped. We thought our IVA might not be approved due to a low monthly payment but with the modification of an extra year added it went through no problems.
Sorry I’ve only just seen this! Well I cancelled all the Direct Debits. We signed and sent off the proposal on Thursday night so it’s just the waiting game now!! I was thinking of phoning the creditors to give them a heads up but I don’t know? X
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Foggy

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Post by Foggy » Tue Apr 17, 2018 7:04 am
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stmw wrote:
mumof3 wrote:
Hi! We are in our first month of our IVA. Once we decided to go ahead with an IVA we stopped paying the creditors. We rang them all explained what was happening. Most of them put our accounts on hold for 30 days. This gave us a contingency fund which we have already had to dip in to (car repairs etc) so it has helped. We thought our IVA might not be approved due to a low monthly payment but with the modification of an extra year added it went through no problems.
Sorry I’ve only just seen this! Well I cancelled all the Direct Debits. We signed and sent off the proposal on Thursday night so it’s just the waiting game now!! I was thinking of phoning the creditors to give them a heads up but I don’t know? X

I waited until they called me ---- surprisingly only a few bothered and were no problem.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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kallis3

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Post by kallis3 » Tue Apr 17, 2018 7:16 am
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Barclaycard were the only ones who pestered me and they were a nightmare.
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
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