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Posted: Sat Jun 02, 2012 12:44 pm
by hrb150
hi
i'm brand new to investigating an iva and have some questions. if i apply for one, how long does it usually take to get agreement, and do i have to attend the creditors meeting with my ip? if so, how long does it normally take for this meeting?
also, am i likely to have my contract iphone removed?
and is it true that i wont be able to get any form of insurance during the 6 years?
many thanks
Posted: Sat Jun 02, 2012 12:51 pm
by Niobe
Helllo.
It's usually 6-8 weeks for a meeting to be arranged and you don't have to attend , just be available on the end if a phone.
Unless your phone contract is a very expensive one it should be fine and you will be able to get insurance.
Posted: Sat Jun 02, 2012 12:54 pm
by ginger3232
hrb - I cant add anything else to what Harpic has said - except start to look for a new bank account - you may be lucky to still be offered a full account - avoid HSBC /First Direct even if you dont owe them any money as they tend to close accounts
Posted: Sat Jun 02, 2012 1:11 pm
by Olivia Young
Hi hrb150
Depending on which firm you use the IVA could take from 4-5 weeks to 3 months.
Have a look on IVA.com and speak to a few companies so that you're armed with information on all your options.
Your creditors don't attend the meeting and you don't have to either. As Harpic has quite rightly said, you need to be available by phone to answer any queries that your creditors may have.
Your phone won't be taken away from you but if you are making a high payment on your contract each month, you may have to reduce it.
Obtaining insurance shouldn't be a problem either.
Let us know how you get on [:)]
Posted: Sun Jun 03, 2012 7:07 am
by hrb150
thanks for the comments. might i not be able to have a paypal account either?
Posted: Sun Jun 03, 2012 8:17 am
by Struzzo39
hi and welcome to the forum. We still have have a paypal account and have had no problems using it x
Posted: Sun Jun 03, 2012 8:33 am
by Niobe
You certainly can have a Paypal account, the wife has one. We also have a savings account as well.
Posted: Sun Jun 03, 2012 9:09 am
by Shining
Hi and welcome to the forum, it can be confusing at the outset of an IVA but I hope you find yourself a good IP who will explain everything in detail and continue to be approachable.
I'm sure you questions are answered for now but do remember where we are and keep asking whatever you want, we're here for advice and support.