"we have been notified that your IVA has been approved.
Please do not use your Egg Card and if you still have your card please destroy it. (which we have on 30th December as soon as we had our approvals)
Under the terms of your credit card agreement we now require payment from you of the full amount that you owe us. The balance on your account currently £xxxxxx. We will be liaising with the appointed Insolvency Practitioner for payment of this sum. However we reserve the right to contact you regarding this matter should we require any further information.
We will be notifying the Credit Reference Agencies of your default"
Am I being really dull? how can they want full payment - we just don't have it - what do they mean?
Sorry everyone - didn't know who else to turn to, don't think I can last the weekend out thinking that I have a problem again just when I thought everything was getting back on track.
Also received a letter from our bank saying the dd for our IP can not go ahead as they are unable to set up payments after the 28th of the month. I suppose this is an easy one - I can change the date, will speak to my IP and see if it is possible to start on the 1st of Feb otherwise I will have to beg, steal or borrow (don't really want to do the last two!!) The reason we had wanted to set up the date for 28th was because husband's salary goes in on that date and we don't have enough in the account for both payments at the moment as everything had been agreed with the company for 29th January.
First of all never apologise for posting any worries or concerns on here! We're all here to help and support [:)]
As regards to the letter from Egg card, just send it on to your IP, they will deal with it. You are now in an IVA and they cannot demand payments, so don't worry.
As for the DD date, just ask your IP if you can change your date. With us, we ended up paying by debit card each month on a date that suited us. The money you pay doesn't go straight to creditors, so a few days shouldn't make much difference.
Hope this puts your mind at rest xx
I suggest that what the letter is doing is merely serving to crystallise Egg's position with regard to the debt - ie they are confirming what their debt is and that you remain responsible for it. This is true in an IVA, but I do think that they could have worded their position a little better.
Regarding direct debits, I wouldn't recommend having them coming out the same day that your salary goes in if you can help it. Some banks (I think the Co-op is one) want the money in the bank the day before the DD goes out.
I have also had a letter from British Gas saying that the OR nas informed them of my insolvency and they have cancelled my gas account and transferred any balance to a new account which has been set up. As the old account was in credit the new account does not require a DD payment for January so in a way they have done me a favour and saved me 80 English Pounds.
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