www.iva.co.uk

Hi all,

I have received details of my creditors meeting next week (Wednesday 13th at 10.45 - Hoping the time will fly by as I can't wait to get everything sorted!)

American Express is my main Creditor at just under £17,000. Halifax at £4000 (£3000 loan and £1000) I then have Capital one for an amount of £850.

I am offering 37p in the pound.

I received a letter from Capital one a few days ago saying they received details from Clearstart and they are offering me support if the IVA does not go ahead. I thought I would received something similar from AMEX… I thought very very wrong!!

Today I received a letter from American Express saying that my account has been closed and it has been referred to a Debt Collection agency... This is the first month that I have not made the full minimum payment to them and they advised it would be ok to make this up the following month (February) at the time they did not know I was going for an IVA and I did not tell them as clearstart said it would be better to wait till they hear about it from them incase they try and talk me out of the IVA...

I called them today as I was scared to receive the letter and they said they haven't received anything in regards to my IVA – but the meeting is in a week's time..?

I asked the guy on the phone what I could do regarding the Debt Collection Agency and he told me I should call them… I daren’t do this… I have e-mailed though directly to the lady who has been helping me throughout proposing my IVA at Clearstart but she has not yet replied...

I am scared as I'm not sure what the Debt Collection Agency will do??[:(]

Hope someone can help?

Sorry for ranting on for so long...

Very worried Natalie xx

If your creditors meeting is next week I find it highly unlikely that Amex are not aware of this. It may just be that the department you were talking to have no record of this.

I would however speak to Clearstart to check as Amex are not known to be the nicest of creditors to deal with and being your main creditor you need them onside if they are intending on voting.

I will give Clearstart a call asap..

Thanks Jo

Natalie

I didn't contact any of my creditors once I had started with my IVA proposal. I just forwarded my letters to my IP and let her take care of it all.

Having said that, Jo gives good advice about keeping AMEX onside. However, if AMEX are not usually a very supportive creditor, then passing the debt to an agent might actually work in your favour. I know this is a tactic MBNA use quite a bit just prior to an IVA meeting.

I have my fingers crossed for you Natalie, best of luck for the 13th. [:)]

Thank you for your reply and kind words Chris!

I hope this is sorted soon.. It's scary just hanging on to see what is going to happen!

Natalie

good luck Natalie for next week. My IVA is through Clearstart and they have been brilliant. I know easier said than done, but try not too worry - less than a week to go, so not long.