www.iva.co.uk

Hi All,

Just was wandering from everyones experience, what is the likelihood of being contacted during my creditors meeting tomorrow? My IP has said to make sure i'm available for any calls...
offering 38p in £.

Also the company i am with has taken the first months payment a couple of weeks ago, does this mean that is the firt IVA payment out of 60?
Many thanks

Your IP will have to discuss any modifications with you and will do that at a convenient time. As to payments it depends on whether the first payment was an up front fee and even if not creditors will likely ask for it in addition to the 60 payments on offer.

Our IP contacted us about 15 minutes after the meeting and any modifications were discussed then.

we knew almost straightaway too, our first payment was paid up front but that did form part of our 60.

We made our first payment straight after the IVA had been agreed.

We weren't contacted during the meeting, but were called a few hours later with the news.
We paid 3 months fees in advance, which was taken by the creditors. Our first payment proper was a day or so after the meeting to coincide with when we got paid again.

Good luck!

Thanks for all yr replies.
Fingers crossed for tomorrow then, i'll let you know how i get on

I paid 1 month as soon as they rang me after the meeting.
Good luck for tomorrow.

Good luck for tomorrow. I was told my IVA was approved four hours after the meeting.

Keep yourself busy. I'm sure it will be fine

Janet x

Hi All,
Just heard from my IP, great news that my my IVA has been accepted!! One modification, someone acting on behalf of egg and barclaycard, has asked for an extra 40 per month. Why is there one company acting for two of my credit cards? Still i'm very relieved, just got to make sure i can afford this every month

Excellent news, well done.

If your debt has been sold on, this would be why one company is acting for two creditors.

Make sure you can afford the extra amount per month. £40 is a lot, and I would hate to see you have problems before you've really got off the ground.

It is likely the same agent acting for both cards requested the extra money. However, as Jan says do not accept the uplift if it is not affordable. Creditors are not totally inflexible and given a good reason the uplift may be reduced or even removed. Congratulations on getting the IVA approved and hopefully your IP can help with the uplift.

A few posters on here have accepted extra payments as they are so relieved to have been approved. However, some of them have also found that they have been unable to sustain these payments and the IVA has failed.

I do hope that you can manage the extra money.