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Posted: Wed Nov 14, 2007 6:56 pm
by 63k
I have my meeting of creditors on the 22d, my IVA company have asked for the IVA payment upfront, before the meeting to show my willing to pay, however, now I am wondering, shall I not pay the min payments to the creditors which I am due to pay them as of the 15th but if the IVA goes in will be paying that instead? All confusing[:0]
Posted: Wed Nov 14, 2007 6:57 pm
by MelanieGiles
If your IP has said to pay the first payment up front, then go along with that advice and do not pay any payments to creditors directly.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Posted: Wed Nov 14, 2007 7:04 pm
by 63k
Ok Thanks. [:D]
Posted: Wed Nov 14, 2007 7:05 pm
by Cybus
I want to chip in and add ...
Check your engagement letter to find out what happens to that first payment in the event that the arrangement is not accepted by creditors. I would hope that whilst you are demonstrating your ability to pay, in the event the arrangement is not approved, that money would be better in your hands to go towards the minimum payments that you would want to make.
That said, the arrangement must have a reasonable prospect of approval since it is being put forward.
Tell it like it is.
Posted: Wed Nov 14, 2007 7:40 pm
by 63k
Thanks
Have sent an email off to the company asking for them to verify what will happen to it as well. They are quick at responding so should get something back tonight or tomorow.
Posted: Wed Nov 14, 2007 7:48 pm
by iva.com
Hi 63k,
I just want to wish you the very best for 22nd. Please let us know how you get on.
Kind regards,
Terry Balfour
IVA.com
IVA.com - The IVA Comparison Site
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Use our IVA firm comparison tool to find best IVA firm for you:
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Posted: Thu Nov 15, 2007 5:40 pm
by emma_t
Hi 63K
Just wanted to say Good Luck for the 22nd [;)]
Posted: Fri Nov 16, 2007 10:35 am
by Skippy
Good luck!
Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.
View my blog at
http://skippy13.blogs.iva.co.uk/
Posted: Fri Nov 16, 2007 12:00 pm
by iva experts
Hi 63K,
If you decide to stop paying your creditors this must apply to all of them, as in an IVA no creditor can be treated with prefference over another.
Best Regards,
IVA Experts
http://www.iva-experts.co.uk/