www.iva.co.uk

When we had our first telephone conversation regarding an IVA where we passed over all our persona details, the lady told us to stop paying our creditors. She was quite clear NOT to favour any particular creditor.

We have had a letter from the dreaded Northern Rock telling us to continue paying until the IVA goes through. (basically).

I have contacted the office dealing with our case just as a precaution really asking if we should pay or not - I though I was over reacting and that they would say it's up to you etc etc but don't favour one work our the percentage and pay all etc.

NO that didn't happen. I got an e mail back telling us I quote 'I would continue to pay just the Northern Rock until your IVA is approved.'[:0][:I]

HELP!

What should I do? I am reluctant to ring anybody (IP or NR) in case I am over reacting and want to wait until oh gets home. I feel all confused and worried. [:(][:(]

I would contact your IP and ask why you are bieng given conflicting advice regarding this. Generally you should not give preferential payments to a certain creditor and as such we were advised NOT to make any further payments as it would not affect the outcome of our IVA.
As I said earlier I would contact your IP and ask them.

Hi moneystinks

I chose not to pay any creditors during the proposing of my iva, but this is a personal decision.

I think the most important thing is not to favour one creditor over another so if you chose to pay NR you would have to pay the others some.
Will they take a token payment if you tell them you are struggling?

I am sure an expert will be around to further advise as I have no experience of NR.

The main thing I want to say is DON'T WORRY[:)]

Emma x

I know I should but I feel really stupid![:(]

I always feel like I am being silly and thick - putting it bluntly.

Thanks for responding x

I rang my IP's office over some things during the proposal of my iva and felt bad for keeping bothering them, but they will be happy to answer your questions I am sure.

Its not worth worrying over, just give a ring and you are definatly not stupid[:)]

Thanks Emma

I am really stressing - sorry.[:I]

My OH is coming home to try and ring the IP office as I am in such a state I will just cry - this is a really rollercoaster ride without pleasure.

Thanks again xx

Marie, I can vividly remember going through the process and how stressed I was about everything, it is a real emotional time.

I hope you get reassurance and answers to you questions[:)]

Always someone on here who has been through the same emtions
Emma xx

Other half has spoken with IP office and the person we deal with day to day has said to pay Northern Rock and not anybody else. We now have the problem of trying to find out how to pay them - does anybody know if they would accept a postal order?

Also I am dreading making the call to them[:I]

I only said yesterday that things were going to well at the moment - big mouth eh lol.

I really hope Northern Rock say yes! Doubtful though[:(]

I have a "Together" mortgage with NR and this month I am only paying the secured element of my mortgage. I am not paying the unsecured element because I am not paying any other unsecured creditors. My IP advised that NR will understand why I am not paying the unsecured element but I will ring them to explain.

Well I feel like throwing in the towel and admitting defeat!

I am totally at a loss now. I wonder if each case is individual. I wish we had never clapped eyes on Northern Rock! This was the result of some bad advice from a financial advisor who no sooner had we signed all the paperwork 'disappeared' from the company we were dealing with. The manager said he left by mutual agreement and when pushed was not very complimentary about him or his methods - although they hastened to add that his dealings were all legal but not necessarily for the best of the customer. We were naive as well though.

Sorry rant over I feel so depressed, and tearful.

We have our mortgage with somebody else the loan with Northern Rock is unsecured. I just thought that we weren't supposed to favour any of our creditors? Now the ip firm are saying pay just Northern Rock - fortunately we have the money to pay them it's just.....I'm confused and frustrated and tearful, all the while trying not to let anybodyknow that I am really low and fed up.......Sorry to moan.
Thank you for your reply, I could see what they bank offer and also if it comes to it get the good old mother in law to write a cheque and give her the cash.

Thanks Ladyh - hope you are okay, I have been following you on the friends forum. x

Oh Marie, you poor thing, try not to get too tearful, I know it's hard, maybe one of the experts might give their take on it. Do you think some IPs (not Melanie!) are actually a bit scared of Northern Rock now and that's why? It's definately an odd one. I hope you get it sorted, you don't need this hassle, stay strong hun, thinking of you. Viki X

We were going to keep the 'surplus' and save it in case IVA got approved for contingency, if it isn't approved then we could try and pay the money to the creditors by way of some sort of arrangement - argh this is a nightmare...

Thanks to both of you.

Viki, I don't know about IP's being scared of NR - I am. They scare me to death and I think this is what the problem is - if they say no then no IVA ccording to IP office. Somebody mentioned a piece of rope being quite cheap on another thread.....lol xx

hi marie, have just read your posts - you poor thing!

nr was hubbys biggest creditor, we did not pay anything to them for 4 months and they approved ours as you know. who is your ip?
i like you thought you should not favour one creditor over another!

try not to worry hun! i dont think whether you pay them or not either way wont influence their decision, i am sure thats what melanie has said before!

keep yer chin up hun, surely it wont be much longer for your creditors meeting and it will get approved and you can then move on with your life!

love barb x

Marie

I will investigate this and give you clear direction tomorrow, as there is clearly some confusion here.