www.iva.co.uk

Following on from my last forum post, I am early stages applying for an IVA and haved stopped making my minimum payments to my creditors which consists of the usual loans, credit cards and overdrafts but part of our debts are also £3000 on buy now pay later items from Very catalogue and £2000 on Next directory. We have included these in the figures of our IVA but just wondered if other people had had these catalogues and Next directory agreed in their IVA. Im worried that when I stop making payments the catalogue may come and take back the buy now pay later items

Next are one of my long list of creditors and I stopped paying them in March and have had no correspondence from them. They did not vote at the creditors meeting but that didn't make any difference to the outcome. They certainly have not asked for any goods to be returned. Sorry but I know nothing about Very catalogue x

Hi Footiemad

Did you stop paying them before your IVA had started too? We are only up to the paperwork validation stage but have been advised to stop paying all crediotors and start saving this money as an emergency fund.

Yes - I stopped paying everyone in March (approx 18 creditors) and IVA was accepted May 27th. I know its hard to stop paying because of the fear of the unknown but you do get used to the phone calls and letters. I used to take the phone off the hook until 9pm in the evening when they are not allowed to call and at the same time just tell family members and friends that if they need you to call on your mobile. If you get too much hassle ask your IP to have a word for you. x

Hi Guys,
I have both Next and Very as creditors. I stopped paying them both in March and up to that point, I had always made the min payments.
Both voted Yes at my creditor meeting on 31st March.
I had quite a few things on BNPL from Very - well most of the things I had bought for Xmas 2010.
I didn't have much correspondance from Very - although they still now send me monthly statements and default notices in which my min payment goes up and up but I just keep them and will send to IP at various intervals.
Next were a bit of a pain to begin with - they called a few times and although i told them of the IVA and then the Approval - they denied all knowledge of knowing about it. But the last thing I had from them was a letter a few weeks ago saying my account was being investigated but nothing since.

I did get calls but I answered them and just said I was with Cleardebt and gave them my ref no. It seems to do the trick with most.

I only had 2 creditors who didn't vote - Ambrose Wilson Catalogue ( approx £400) & Vista card from Priority Club ( approx £3000). Evans were the only other creditor to say no.

Sorry - that should say Visa card not Vista.
Can you tell I work in IT???...lol

I also had next... stopped paying and they never voted either, I dont think I have heard from them since!

Hi Beckie
Stay strong, those items on BNPL cannot be taken from you if the debt is itemised in your proposal, the mind boggles if this could happen, my home would be empty and no clothes to wear!!

I havent heard of catalogue companies turning up in a van to take away items. They wouldnt be worth what was owed on them.

Not sure about large items like sofas etc bought on credit?

Paul

Hi Beckie, I have a £2k debt with Next directory and they didn't even bother to vote at my creditors meeting and they haven't requested a return of the goods!, it's strange how during the 6 months where I made no payments leading up to my creditors meeting, Next never bothered me at all, apart from initially acknowledging an email I had sent them explaining I was looking to go into an IVA, but as soon as the IVA was approved I had 2 letters and 3 phone calls form them wanting me to pay up!, My IP has sorted it though now

Hi Beckie we have next very and littlewoods as creditors and numerous items on BNPL we havnt made any payments since we started the IVA process so we can save a little money for emergencys i have told next and very about the IVA and must say next have been very understanding and have not phoned me once it is realy hard to stop payments i found it realy hard but its been a couple of months now and we have just returned our signed proposal .