I haven't even started the process yet and I'm already stressing..... Again.
It's been over a week that I requested the bank for copies of my bank statement and credit card statement, so I can start the process for a IVA, but so far nothing...
I'm now struggling to concentrate at work, with the anxiety of getting home and check the post.
Does anyone know, normally how long it takes to get copies of requested statements.
Hi and welcome to the forum. I'm sorry I've no idea but would it be worth giving them a ring to chase them up? Are they available online for you to download?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Thanks.
No, current account is available online but only in a Excel format. Doesn't even look like a real statement. Have requested it on the online banking. Credit card no option, so call them an requested.
Just wanted to get this started soon as I'm expecting for the banks phone calls to start any minute now chasing payments.
what i did when i was at the stage you are now, was type a generic letter for each credit card co, writing my ac no on the top , explaining that i was entering into an IVA and requesting understanding whilst the process took place, additionally saying that i could not afford the monthly payment. I also made token payments of £1 every month, as at the time 7 yrs ago this was recommended, although im not sure if token paymnents are suggested now.
Which bank are you with, do you also have one of their credit cards & do you have an overdraft with them ? if so you will need to open a new basic bank account with a bank not connected with any of your creditors
its normal to worry a liitle at this stage, but you are taking positive action to get your finances sorted.
Dont worry if the odd creditor harrases the hell out of you ( MBNA were my nightmare ) stay strong, but i would suggest you take my advice once the calls start and send a standard letter as mentioned above
good luck , dont despair & remember to post and ask anything you may be unsure or worried about
Last payment made April 2012
Certificate received 1st Nov 2012
Hi 12 months,
I've opened a current with another bank and will soon get my first wages into it.
I've already stop using all cards completely.
My bank is Lloyds, the credit card will fail payment in 3 days and due to a loan payment made the overdraft is over the limit now, that's why I expect them to start calling now.
I have a letter template ready to send to all creditors but need to start the IVA first. I want to send these letter to advise them but until they send these statements I can't start anything.
Hi Luigi, Have you looked into more than 1 IP firm? If you havn't I would really recommend that you do. My IP firm did everything for me once I supplied them with the relevant paperwork. I was also with Lloyds and I took copies from my internet banking which was accepted. If you cant di this then you should be able to go into your branch and they will give you copies over the counter. I hope everything goes well for you and remember we are all here to help:-)
Hi Grayson,
Thanks for the reply. I have already looked around that's sorted. I'm "ready" to start just need these statements.
I panic just thinking going to the branch counter and they may start with questions abound the current totals.
Hopefully today I'll get something in the post.
Hi Mel,
It is purely my "fault" that the creditors are not yet aware of my intentions. As I'm yet to sign a "authority to act" declaration. Again because, I'm just waiting for these statements so I can send all paperwork.
I know everything will be fine in the end. I'm couping better with the wait now. The day I posted my overdraft had gone over the limit due to a DD of another creditor, and I just panicked.
Last edited by Luigi on Thu May 30, 2013 6:00 am, edited 1 time in total.
Luigi when I began my IVA process I contacted all my creditors by phone and told them that I was having financial difficulties and was seeking an IVA.....I also informed them of the IVA Company and my IP's details and also that they would receive everything in writing.
I know its not compulsory to do this but it did help me being pro-active whilst awaiting my IVA to commence and I must admit every creditors debt team I spoke too were polite and understanding.....and I recieved very little (if any) calls from my creditors with any demands.
Later on in the process I received a template letter from Mels team to which I just added the address and account numbers and forwarded to each creditor.
You are very new on the IVA road and understandably will be anxious, however, continue to use this forum and you will soon realise that your not alone and can seek help or assistance to any queries nigh on 24 hrs a day..... not just from others in the same boat but also from IP's themselves.
Hi Luigi, I'm only a little step ahead of you, having got all my paperwork to the IP. I'm new to the forum too, but you will feel a lot of support from people in various stages of their IVA. I found this time a bit stressful pulling everything together, but you'll get there and it's another step completed to getting back on track. Hang on in there.
Hi, I managed to get our information together fairly quickly but in the introductory letter from the IP, it stressed how important it was to get the Authority to Act signed and back to them so if you haven't done this yet because you are waiting for the statements, I would sign it and get it to your IP now. You can then send on any additional information as soon as you've got it.
Hi Guys, thanks for the replies.
I've done that today. Did some print screens of the online banking and sent all paper work and signatures. I can't wait anymore, once I get the originals, I'll send them.
