Getting letters from credotors

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Dena1978

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Post by Dena1978 » Mon Oct 28, 2019 4:38 pm
I’m about 4 weeks into my Iva, my first payment has left my bank but I’m still getting texts & letters from creditors. My IP said this is normal for 6-8 weeks but I can’t help but feel panicked by it as I’ve never been behind on payments before so it’s all new to me. How long did it take to stop for others going through Iva please?

Foggy

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Post by Foggy » Mon Oct 28, 2019 5:09 pm
Your IP is correct --- some of us have had letters popping up for a few months after starting.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

kallis3

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Post by kallis3 » Mon Oct 28, 2019 10:34 pm
Don't worry about it - we've all been there!!
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

WallE

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Post by WallE » Mon Oct 28, 2019 10:39 pm
6-8 weeks is normal, but don't forget the creditors can still send you some correspondence, and in fact are legally obliged to do so. These will be sent under the Consumer Credit Act 1974 and include statements, defaults/notices of sums in arrears and the likes of notices of assignment, if the debt is sold on. Usually nothing to worry about, but I would contact your IP if there's anything that gives you cause for concern, or threatens legal action/demands payments.
Hi! I used to work for one of the UK's biggest Insolvency Practitioners - I don't work for an IP anymore but still have an extensive knowledge of the IVA industry. How can I help?

Marty171

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Post by Marty171 » Mon Oct 28, 2019 10:54 pm
Mine stopped after about 3 months,

I get statements every year still showing how much is outstanding and stuff but nothing threatening or anything like that anymore
IVA Started 07/07/2017
F & F Accepted 06/09/2019
Completion Certificate 16/12/2019

kallis3

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Post by kallis3 » Tue Oct 29, 2019 8:46 am
They are obliged to send them out every 12 months.
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
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