www.iva.co.uk

i'm thinking about an IVA but am worriedd about debt roecovery agencies, ie. bailiffs coming to my home before everything is in place. what can be done to stop this happening and scaring my wife and child?
[?]

Hi
Bailiffs can only call with a court order and this would only happen if you had totally ignored a CCJ. This whole process will take many weeks and your IVA should be in place by that point.
Do not be concerned about this as it is VERY unlikely to happen.
What you will get is calls and letters from your creditor or a debt collection agency, you may receive default notices or even a CCJ notice. In all cases just keep your IP/Company informed and act on any advice given to you by your IP/Company.
Regards

If you are at the point you are worried about bailiffs I would guess it time to stop thinking about an IVA and get on the phone

Andy, thank you for the advice, sorry if it seems that I'm being hesitant but never been in this position before, it certainly nothing you plan... I'll keep this forum informed of my progress and experiences. Thank you again.

Good luck. It's a horrible place to be but once you start fixing the problem, slow as it may be to do so, you do begin to see some clarity and start to feel better.

hi
No problem Paulf, it can be a scary process, just take your time and do some homework before choosing the right company to act for you.
Speak with several before committing
Regards

Has as been said it is difficult and scary and a big commitment that may well mean some lifestyle changes but I am now past 36 months of a 60 month term and I can honestly say it was the best thing I ever did.

It is not something to enter into lightly and make sure you are aware of all your optiions including which company to go with before you make the leap

Good luck

I hope things work out

Waggers

Don't forget to seek professional advice - the sooner the better.

So have a chat with an IP and give him/her details of all your personal and financial circumstances and particulars

Visit www.iva.com for reviews on firms and practitioners and select one or two to have a chat with. They will give you
the most appropriate advice and it is free.

David, thank you, did that yesterday and spoke to Mike. Went through all the options and strangely felt like a weight had been lifted, not clear, but enough to maybe see things more clearly.. All the paperwork is in the post to me, so we'll go from there. All I can do is hope everything is accepted sooner rather than later, already changed the bank account and I'll sort out the direct debitd today. Has anyone else had their IVA accepted at around 29p in the £ ? Do the companies have to accept the DMP if we go down that route, just trying to tie up all the loose ends as its seems I am probably off on a 4 month "holiday" with work somewhere hot next year, great...
Paulf

I put forward lots of IVAs at that level of dividend - indeed the national average return on IVAs generally is around 32p in the £ so you are not far off that.

Melanie, thank you for the information, just have to wait and see... hopefully we can now start to look forward instead of over the shoulder all the time. I have been advised to remove my wages from my old bank account as soon as they are in the account but before any unsecured debts can be paid, will/can the bank refuse to give me the money knowing bills are to be paid at the beginning of the month?
Hopefully yours, paulf.

Hi
No. you will be able to take your money out.
Regards

Just got the paperwork through from Mike (Size5) and will have it back in the post today. How long, roughly, would we be before we know if its accepted or not, so very nervous now.
Will keep this forum informed along the way, hopefully this may help other people?

A lot depends on how complete the information is that you have sent back. Assuming it is all there, and assuming that everything is broadly similar to our original chat, then you will get a call from the drafting team to follow up with you pretty quickly after it is received so that we can get cracking on arranging a creditors meeting.

Shouldn't be too much longer than a few weeks, subject to no missing information.

Regards.

Good luck Paul, you are with a good firm.

Any questions or support you need, we're right here.