Oh I feel sick, just had a call from Egg (hubby's creditor) requesting to speak to him, we missed the payment to them that was due last friday so they haven't taken long have they!, hubby is at work today until 10 tonight and same tomorrow, they said they would ring his mobile but as he is a prison officer, he is not allowed his mobile in the jail so i told them he wouldn't be able to answer it. I hve no idea what they will do now.
How do I protect my kids from this? I don't want them picking up on it when we start getting loads of phonecalls, my dd already knows we are struggling.
I'm also really worried that our IVA will be rejected, we aren't using credit now since we made the first call but had been up until then to buy xmas presents, food, petrol etc, we also took our a £6k loan in July with santander for our car (we do have another loan with santander aswell though)and have only made 4 repayments (this loan was for 3 yrs) although my employment situation has changed since we took out this loan and am now on 1/4 of my previous income, after reading through some of the rejections on this forum it seems recent credit is a reason for rejecting proposals. I'm beginning to think we should have just struggled on for a few more months
Last edited by lem on Tue Dec 07, 2010 11:29 am, edited 1 time in total.
Lem, why don't you pick the phone up and try Tina or email her? I understand about the calls, I'm not picking mine up,yes when our children are home at Christmas we'll have the same problem,un plug it if they're in,i do.
Melanie Giles knows her stuff,if she wasn't good at her job she wouldn't have the feedback that she does,listen to her or Tina not posts.
I'm in exactly the same place as you having spoken to Tina the same day as you,waiting is difficult. do not let any creditor bully you into anything. take a breath,hug x
Nothing stays the same...everything changes..hang on in there!
hi rose, yes I have emailed Tina this morning and waiting for her to get back to me, i know Tina has been on leave since thursday and I really didn't want to bother her while she was off (even though she told me to if I had any worries), it just seems to have all gone quiet now, my mortgage is still up in the air and I only have another 7 days to give the bank the option I want to go with or they will withdraw the offers, but I can't do this until Tina tells me which option will make the IVA viable so I'm stuck.
I just now feel so exposed, previously we were meeting all our payments and now I have stopped these and everything has gone quiet (apart from the phone calls that are starting) i just feel totally alone.
I have also had a letter from the Halifax this morning after we tried to open an account a week ago to say the records they have on file for me show me at a different address, so they want me to go into a local branch update my address details and then apply online again!!! I am getting paid again in less than 15 days time and I need an account opening asap otherwise my money is going to get frozen!!!!
Hi, i'm understand,but you,like us, weren't up to date with everything because like you they were all being met via a overdraft/credit. the bank could have demanded that back at any time then where would we have been? no money for food let alone anything else!!
We opened a Co Op basic bank account,took photo ID in with us,cards& account number came within 7 working days(with a weekend in between,panic panic.)make getting a bank acc. sorted a priority.
I'm sure Tina will be in touch soon,expect she's a lot to catch up with after her leave.
You're doing the right thing.
Nothing stays the same...everything changes..hang on in there!
Have had an email back from Tina, if we go onto the fixed rate with our mortgage, the dividend will go down from 24p to 13p and she tells me the creditors would probably not be happy with this low amount and therefore this makes an IVA unviable. I guess we have no choice really but to stay on the SVR and hope to god interest rates don't rocket during the next 6 years, otherwise i guess we end up homeless to boot
The rising panic you are feeling is perfectly normal
I'm sure you will get it sorted soon if anyone can help you Mels team can. Your first priority is your bank account can you go into a branch and deal with it?
The phone calls....well honestly dont worry too much about them I wrote to all of my creditors telling them that we were going into an iva. The calls are just call centres going through the motions and they will stop soon. How old are your children ? if they are old enough to understand I suggest you discuss the situation with them its much easier if the whole family
understand, I know thats easier than it sounds but it would be better in the long run.
I understand how you feel about your mortgage a few of us on here are in a similar situation re interest rates
they are bound to go up and I feel that we have no option but to deal with that as it happens. For now
get the IVA in place and your bank account sorted, one step at a time and try not to panic you really are making the right decision.
Good luck
Karen[:)]
Try unplugging your phone if it's causing you distress. I know sometimes we need the phone on for various reasons but give your close family and friends your mobile number maybe. Alternatively ask your telephone provider to change your number this can mostly be done free of charge and offer no explanation to close family and friends in respect of why or a little white lie sometimes doesn't hurt??
Try not to worry although it's a natural part of the IVA process I do understand.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I would certainly change your phone number. Tell everyone you are receiving nuisance calls. Go ex directory as well if you're not already.
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
You are certainly doing the right thing gettng support from this forum. The worries and concerns you have are perfectly normal.
In terms of creditors contacting you, unfortunately this is going to happen as you have stopped paying them. Some will be worse than others. Unfortunately some of them will continue to contact you right through the Christmas period. If the phone calls are really stressing you out then why not call the phone companies and ask them to change your numbers as your are receiving harassment calls.
Regarding your mortgage rate, you are right to think about this and what you do will depend on how much wriggle room you have in your IVA if your expenses increase. Generally speaking it is probably not a bad thing to simply let your mortgage go onto the SRV next March. All the indicators currently suggest that interest rates will not increase until the back end of next year and then not by much.
Lem - I will look at your case when Tina sends it over, as I don't necessarily have a problem with a dividend of 13p in the £ - but would like to look at your case generally, rather than just the one aspect of it.
The stage you're at now is probably the most stressful part of the IVA process. All the "what if's" running through your head causing you to panic, and wonder if you're doing the right thing.
You suggested earlier that you may have been better struggling on for a few months as you were meeting all your commitments. However, as someone posted above, this was being done by using more credit, in effect, robbing Peter to pay Paul, which is a classic situation for people entering IVAs.
The interest rates obviously cannot go any lower, so they will rise during the next six years, but they may not rise that much, and if they do, many people's IVAs will be affected, so the creditors will have to take a commercial decision and accept reduced payments for the remainder of the IVA, rather than allowing countless IVAs to fail, which would be in no-one's interest (excuse the pun).
Have faith in Melanie's team - they are the best in the business.
Whichever mortgage option you run with, I'm sure Melanie's team will help you to put forward a proposal that has a great chance of being accepted.
regards
st75
Started lump sum IVA in Aug 2010 - received certificate of completion April 2011, thanks to Melanie & team
Those are very kind words st75, and I am immensely grateful for them. We will do our very best to look after Lem, and I hope to have the ball rolling prior to the Xmas break.
Thank you so much Rose, Melanie and St75, have had a bit of a nightmare today, we opened a santander account a few weeks ago before we made our first call to Mel's team, this was to be our main current account which we could switch to from our current HSBC account which is overdrawn (always), with the aim to slowly pay off the HSBC overdraft, great in theory, we requested Santander NOT to give us an overdraft facility.
Fast forward a couple of weeks and once we made the call to Tina, we realised this account would no longer be any good as Santander is also a creditor so we ditch the idea.
Today, as always I check my online banking wondering why my electric direct debit hasn't been taken yet when it is normally debited around 3rd of each month, I check all my direct debits and they have all disappeared!, it then dawns on me that they must have been switched to Santander.
I called Santander and lo and behold they started switching my DD's on 29th Nov (why haven't they informed me???) but not to worry, they say, 'we have given you an £1800 overdraft!!!!, I could have cried, so now all the creditor DD's I cancelled with HSBC have been activated on the Santander account that has no money in it and is already overdrawn!!!!.
I have asked them to cancel all the DD's immediately and am angry they have given an overdraft facility when I specifically declined this option and I want the account closed but as it's overdrawn and I'm not sure what DD's have come out/are due to come out etc I'm a bit stuck at the moment.
So I have spent half the day back on the phone to HSBC which to be fair have been fantastic with me, they have reinstated the DD's they can but I now have to contact each DD originator to change the DD back to HSBC, what a nightmare, plus I was worried that this looks like I am accessing credit again though fortunately Tina has been brilliant.
Each day is bringing a new headache at the moment, oh and Egg have called for my hubby again tonight and it didn't bother me at all!!
