Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
When i started mine i was told to stop paying all creditors, because if you make payments to them you can be deemed to be showing preference and it could all go pear shaped, so i did and the phone started ringing off the hook. I was told to tell them i was in the process of applying for an IVA with such and such a company, gave the phone number, and the calls soon stopped. Creditors meeting week after next for full and final, but only 2 payments to go anyway, and its over.
As long as you make token payments to all of your creditors then that is ok. I didn't bother though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Really worried now as sent token payments for cards but didn't realise had to stop loan DD. Given preference as paid. So worried as they are my biggest creditor,
Paula, please don't worry. Stop your DD now and just make a token payment if you want next month. It won't make any difference to your application.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
sorry didnt mean to scare you. i was just telling it as it was when i started mine 5 years ago. i dare say different companies have different procedures, and in 5 years the rules will have changed as well no doubt. If you are going into the IVA then you must be in quite a bit of debt like the rest of us. I would guess that the token payment you offer will probably be a drop in the ocean by comparison, and wont make the slightest dent in the debt, So hold onto the money you will find it comes in handy soon enough. Dont be afraid to be very blunt with debt collectors, especially the 3rd party ones who buy the debts from the big loan companies and credit card providers, I had to use some very strong language with these parasites but dont fear them. The creditors who chase their own debts without selling them on to parasites will be more understanding, and usually they will leave you alone once you explain the IVA, they may contact you mow and again till it is all set up and in place. But i would love to see the look on the face of the halfwit who rang me up demanding money with menaces for a debt they bought from Barclaycard and i told him i was in an IVA......PRICELESS, or is that another credit card's slogan.
Last edited by howard07 on Thu Mar 03, 2011 11:34 pm, edited 1 time in total.
Sorry. Just in absolute panic. Common sense is flying through the window. I am so scared that if this bid fails, then we are stuck with £10 a day more debt. Things are getting out of proportion in my head, probably, as I am not sleeping. Going to bed now, for what it's worth. Thank you for just being there. Night.
I hope you're feeling better today Paula - you've done the right thing by starting to sort this out and in a few weeks you'll have your meeting and be on the way to debt freedom.
Just remember that if you have any worries then your IVA company are there to help you so just give them a call and of course the forum is here for you to ask away and for a virtual hug whenever you need it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Paula, I don't sleep well most nights when I've something to worry about so do empathise with the panic you're experiencing. Remember we're all here for anytime. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Ok. Thank you. Seen my friend & went shopping with her as she is preparing for a special event. Only bought coffee & tea cake myself, though. The trouble is the strain though as she knows that we are struggling, but we are not telling anyone about trying for IVA.
I do find the support on here to be an enormous help. Never used a forum or facebook or anything like this before. x
Glad you're ok Paula. I don't tell any of my friends about my IVA either you can hide it by being frugal. I guess they all think I'm tight but I don't mind that!
The support here is great I do agree and although I do waste too many hours on forums and facebook alike this forum is my favourite of them all x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Paula - i personally found by telling my very trusted friends - it made things a lot easier - a great weight is lifted and there is no longer any need to pretend. Also no one expected presents etc for christmas/birthday. Also when things feel real rough - you can share the cost of bottle of wine + some pasta
It's amazing how good it is to talk about your problems on here, and not always the debt ones. There some amazing friends to be made.
I love this forum and FB!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
