www.iva.co.uk

I have been to a company called faith financial about my debt and they have forwarded all info to vanguard insolvency .i got a letter on the 18th july 2019 to say a meeting of creditors has been convened for my iva proposal on 6aug 2019 one of my creditors aqua loans ive felt too nervous to answer the phone to and sent a letter to them instead im nervous this will go against me .im a nervous wreck since i stopped paying credited only over a fortnight ago as advised to cancel all direct debits .any info or help would be appreciated .thankyou

Don't worry - you don't need to speak to them and if they do phone just don't answer any security questions and they cannot continue. It will not go against you - cancel your DD's and build up a bit of a contingency fund - most of us did.

I cancelled all my direct debits as soon as i got help from the debt company as advised im nervous about my iva getting rejected as it offers 14p in the pound 105 a month for 18000.im happy to pay for 6 years if creditors want modifications.im guessing your iva was approved Kalis.my crefitor meeting on 6aug im guessing the ip will have contacted creditors as he says s meeting has already been convened

Mine finished a few years ago. Your creditors will have been notified - stay strong!

Please take this in the nicest possible way but, whilst I fully understand how personal this is to you, to your creditors you will just be a number in their phone dialling system and still showing up on their 'chase' list.
As previous posters have said, it will be up to your creditors to vote in favour or not in favour of approving your IVA. In the meantime they will just have to wait.

Further to Shaun's reply ...most of the calls made when a debt first defaults will come from third party collection agents in a call centre somewhere.They have limnited access to your records and, in any event, the creditors meeting will have been and gone before anyone really realises what is happening.

Thanks for your advice guys

Hi Richard
Wow our situations are near identical with the difference of 1 day. I got my letter 19th July with creditors meeting set for 7th August. I was referred to Vanguard from Faith Financial too, my proposal is 14p/£1 paying £100 a month and my biggest creditor is Aqua.

I hope your iva gets approved Chris and i dont know if you've been braver than me with answering calls?

No I don't answer, I search the number on Google if it's one the creditors I've been told to stop paying I block the number and it goes straight to voicemail. I have to delete about 10 voicemails a day.

Ive only had aqua ring and nobody else just too scared what to say and i can't pay anyway before I cancelled direct debits after talking to faith financial i lost 280in debt repayments I've just been using credit to pay off credit and run up more debt using more credit after repayments .i feel sick ive got in this mess .i did send a letter to aqua instead explaining that faith financial and vanguard i had seeked help from

I was always surprised how pleasant the callers chasing payments were to be honest, as soon as I mentioned the IVA they were satisfied. Good luck and try to stop overthinking everything, we all know that awful feeling but have survived intact.

Most creditors are OK these days. Many of mine gave up at the mention of an IVA ... a couple I toyed with (one exotic sounding caller was very enjoyable to talk to !). AA Finance even called me on the morning of the meeting to wish me luck (they held about a third of my total debt and voted yes).

Thankyou allywally and foggy that calms my nerves a bit you both mentioning that creditors were ok when calling its just the nervous stage waiting for the decision at creditor meeting thanks for people's info and advice whove been there

Barclaycard phoned me the day I had my meeting and, despite telling them I was in an IVA they still wanted payment!