cancelling direct debits before contacting creditors?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
 
 

martin.8

User avatar
Posts: 1
Joined: Thu Aug 19, 2010 5:07 pm

Post by martin.8 » Thu Aug 19, 2010 5:07 pm
should i cancell my direct debits before i send the letters to my creditors
 
 

TheMatrix

User avatar
Posts: 2171
Joined: Sat Mar 17, 2007 8:32 pm
Location: United Kingdom

Post by TheMatrix » Thu Aug 19, 2010 5:13 pm
Yes, I was told to cancel all mine as soon as I spoke to my adviser, and open a fresh basic bank account with someone who is not a creditor.

Avoid HSBC even if they are not one of your creditors as they close accounts of people in a IVA
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Thu Aug 19, 2010 5:45 pm
Hi martin and welcome to the forum. I would cancel your direct debits and send out your letters at pretty much the same time, as inaiva suggest a new bank account is also a priority if you bank with anyone you have credit with, if not it's fine.

If you credit rating isn't too bad at the minute a good time to apply for an account as you may get a full one if not try the Co-op they're very iva friendly.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”