We have all been there as Foggy says and it can appear very daunting, but it does get sorted I promise. In the unlikely event your IVA is rejected, an IP can campaign for more votes to overturn the original decision or suggest an interim DMP until it can be proposed again. However, I say unlikely and it is unlikely a good IP puts forward a confident proposal that is very unlikely to be rejected. All the best and do have faith.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I did sonj77, as soon as I contacted Melanie who I appointed as my IP, I made the decision to stop paying and build up a contingency. I knew my credit rating when in an IVA was going to be shot so the few week until the IVA was set up and accepted were negligible.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
As husband and I were entering an IVA together (interlocking), my main worry was that one of us would be rejected and not the other but again I worried needlessly as both were accepted. I know it's easy for me to say bu a good IP (that I had) will put a good proposal forward that creditors will accept.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
It's a scary time as you know leading up to the IVA acceptance but it's rare an IVA is rejected...is it just yourself entering the IVA or the both of you?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Bless ya, I can tell, hopefully by talking again to VB they can reassure you fully. However, remember we're here to support you and being a part of this forum has been a godsend to me I know that as I'm sure it has for others.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
These feelings are completely normal. I remember them all too well. Even now I have bad days about the iva but it was the best decision for us and we can see light at the end if the tunnel.
If you do chose to stop paying(which I did)it's worth remembering the people who call you to try and get a payment have very little to no input into the IVA vote, this is farmed out to specialists
For me I found the quicker the agent knew you were going for an IVA and not making any payments(until the process is complete) the easier it was. The only reply I got apart from notes being added to slow/stop calls was tesco asked 'what if the IVA isn't approved' in an attempt to get a payment, I said 'I'll go bankrupt' which she couldn't argue with!
I agree paying or not paying has no bearing on the outcome of the IVA. By talking to your creditors in the interim would also sometimes buy time even if they say ok we'll call again in 7 days. However, some posters choose to ignore the calls completely and again if that is what suits then so be it.
No right or wrong, just personal choice.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Thanks to you all for the replies, this forum is truly a great place to both get and of course give support. I'm still unsure of what I'm going to do, although at present I must admit Im thinking of just trying to clear some of the debt whilst on 0% and take it from there. Maybe not the right decision but Ive getting in bit of a state. Was hoping to speak to andy or someone on here but appreciate its bank holiday weekend. xx
