www.iva.co.uk

Reading some of the messages on the forum re creditors tactics I think it is going to be a bumpy ride!! I have not spoken to my creditors about the proposed IVA, I have not missed any payments to date but have now cancelled DDs so they will be aware. What can I expect? (to be forwarned is to be forearmed)

Once you have decided that an IVA is the correct way forward, the IP you have chosen to represent you will immediately write to all of them to confirm that they are acting.

This does not always stop them ringing/writing to you, but the sooner the IVA is in place the better.

Thanks Melanie we are getting all paperwork to gether to send to IP to get process started so fingers crossed we are on the right track.
When and where is the next frugal friends meeting?

I am going to try and arrange something for the Midlands area in Feb/March time hopefully.

Look forwasrd to that Mel.

Your creditors will probably start ringing and writing to you within a few days of your first missed payments - they are very quick on the draw with this!

Don't be bullied into making any payments. They are call centres, working on commission and they will try anything to get money out of you. Some will even say that your IVA won't be approved - don't b taken in by this.

If you have caller display you can ignore the calls, you can answer and just politely tell them you are seeking an IVA, or change your number.

I never answered the phone calls, but I did keep them informed by letter.

Hi
The secret is to keep all your creditors in the loop about your proposed IVA. Some will take notice and leave you alone altogether, some will want updating on a regular basis and others will call you each and every day, sometimes several times a day and just chase you for a payment.
Just stick to the advice that you have been given by your IVA provider and focus on getting all the required paperwork back.
Regards

Thx for replies, just one more question
when opening a new bank acc do I have to tell them who i banked with and is it better to set up my own DDs?

I am sure that the new bank will ask this question, and your DDs are usually dealt with by the new bank directly.

Could my old bank refuse this information as the majority of my debt is with them?

No