New to IVA and forum

Get expert opinion. This is the place for new questions to be posted.
69 posts Page 2 of 5

lifenoteasy

User avatar
Posts: 3197
Joined: Thu Feb 05, 2015 2:26 pm
Location: United Kingdom

Post by lifenoteasy » Wed Nov 11, 2020 12:39 pm
Hi

Under no circumstances ignore the documentation from CF - write back confirming that they do not have authorisation to proceed on your behalf.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.

kitty14

Posts: 35
Joined: Mon Nov 09, 2020 2:25 pm

Post by kitty14 » Wed Nov 11, 2020 2:39 pm
Wed Nov 11, 2020 12:39 pmlifenoteasy wrote:
Hi

Under no circumstances ignore the documentation from CF - write back confirming that they do not have authorisation to proceed on your behalf.
Hello,

Sure thank you, should I just reply to the email once I receive it that I do not wish to go ahead?

kitty14

Posts: 35
Joined: Mon Nov 09, 2020 2:25 pm

Post by kitty14 » Tue Nov 17, 2020 7:08 pm
Tue Nov 10, 2020 10:28 amFoggy wrote:
You will need to open a new basic bank account --- HSBC are likely to close your account when they get wind of the IVA. Many of us have used Co-Op Cashminder accounts with no issues.

If creditors do ring simply tell them that you are proposing an IVA and they can speak to Stepchange if they feel so minded. Other than that do not engage in any conversation. Many of the call centres do not even know what an IVA is and will spout nonsense just to get a payment out of you.

Best of luck with Stepchange -- I am sure everything will be OK.
Evening,

So a little update. Had my appointment this morning with StepChange and I am beginning to get all my documents together for my proposal I also rang all my creditors today to discuss and tell them that I’m struggling but I’m in talks with StepChange with my reference number however upon speaking to HSBC she was so lovely and also informed me that if I wanted to and now is the time to open a basic bank account that is with them which was great news for me really. Just waiting to see if that will be approved. (Still have my Barclays for now but ideally still want to bank with HSBC) should all be okay?

Foggy

User avatar
Forum Expert
Posts: 31796
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Nov 17, 2020 8:37 pm
I would take what the lady from HSBC said with a pinch of salt, having seen so many accounts frozen and closed by them without notice, even where they were not a creditor. Hopefully she is right.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kitty14

Posts: 35
Joined: Mon Nov 09, 2020 2:25 pm

Post by kitty14 » Tue Nov 17, 2020 8:51 pm
Tue Nov 17, 2020 8:37 pmFoggy wrote:
I would take what the lady from HSBC said with a pinch of salt, having seen so many accounts frozen and closed by them without notice, even where they were not a creditor. Hopefully she is right.
I suppose, of course I have been reading up on here about all those cases but also reading StepChange’s advice also. I’ll have to wait and see as I’ve applied for a basic account today I’m sure I will get a phone call as I currently have an advanced account just waiting to be closed once IVA goes through. A nice thing they do for me was refund me my interest charges. Nice of them even though I won’t be touching it 😂

kitty14

Posts: 35
Joined: Mon Nov 09, 2020 2:25 pm

Post by kitty14 » Fri Dec 04, 2020 8:17 am
Update:
Finally sent off my proposal yesterday, it seems like such a long time scale but finally got the ball officially rolling.
£90 a month payments making it 20.69p to the £ which was higher than Bankruptcy of course so hopefully everything goes smoothly.
Still awaiting a meeting date but that should come soon I hope as I am officially in my 60 days breathing space to my creditors.
HSBC opened up my Basic Bank account yesterday no issues at all and in fact so genuine and informative seems like they really have changed to those negative feedback previously.
I was assured my account wouldn’t randomly be closed (the new account) as they only close accounts with real reasons.

I feel a weight lifted already and hopefully the start of 2021 brings good news!

kallis3

User avatar
Forum Expert
Posts: 76194
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri Dec 04, 2020 8:26 am
Good luck with your proposal and I really do hope HSBC have changed their views.
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

Foggy

User avatar
Forum Expert
Posts: 31796
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Dec 04, 2020 9:13 am
I echo Kallis .... best of luck.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

luluj

User avatar
Forum Expert
Posts: 10993
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Sat Dec 05, 2020 4:40 am
You've been on a journey already but you are now well into getting things approved.

Good luck and keep us updated with how things go.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

kitty14

Posts: 35
Joined: Mon Nov 09, 2020 2:25 pm

Post by kitty14 » Sat Dec 05, 2020 9:19 am
Fri Dec 04, 2020 8:26 amkallis3 wrote:
Good luck with your proposal and I really do hope HSBC have changed their views.
I hope so too. I mean I was sceptical too... then had some doubts yesterday so went back into branch to clarify especially regarding the right to offset rules. Again so kind and helpful, got directed to the finance debt department via telephone as he wasn’t 100% sure. Spoke to a lovely lady, she had to check with her manager about it and confirmed to me that HSBC do not use the right to offset rule and our conversation and my concerns were recorded on my file notes. They assured me the new account will be fine to use as normal and they do not use that rule.
So one can only hope this is the case. All will be revealed on the 14th once my switch is in place...

kitty14

Posts: 35
Joined: Mon Nov 09, 2020 2:25 pm

Post by kitty14 » Mon Dec 07, 2020 9:40 pm
I have a creditors meeting date of the 5th January 2021 it seems like forever away

kallis3

User avatar
Forum Expert
Posts: 76194
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Mon Dec 07, 2020 10:15 pm
It will soon be here. Fingers crossed for you.
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

luluj

User avatar
Forum Expert
Posts: 10993
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Tue Dec 08, 2020 3:43 am
Easier said than done, but try to stay focused, stay busy and start to work on your new proposed budget.
Its always harder at Christmas to do that, but now us the time to learn those new skills and to think of imaginary ways of living more wisely.

It will soon be here and you will soon be on the journey to debt freedom x
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

kitty14

Posts: 35
Joined: Mon Nov 09, 2020 2:25 pm

Post by kitty14 » Thu Dec 31, 2020 1:20 pm
Update:
Oh boy what an update this is.
So all was going well had my HSBC basic account set up and using it fine no money was being taken from them.
Then today. Pay day.
Checked my account this morning and no money had cleared I thought oh that’s weird.

Get on to webchat got told my account had been frozen and need to ring to speak to someone.
So I ring up and they tell me to go to branch and see if they have options for me as the department isn’t open till Monday (Great that’s bill day for me). I went into branch and were they helpful no not really said I need to do telephone banking to speak to them again and they cannot unfreeze accounts in branch.

After a honest chat with the cashier it was decided despite all that was said and done for me I wasn’t a good enough customer to keep and I’m better off banking elsewhere. As I said to them that’s great I done the account switch for naff all thanks.

Anyway short walk in desperation of a new basic bank account I come back to Barclays to open one and no issues whatsoever.
Get home get back on the phone to HSBC to try and reclaim my wages and thankfully successful done so. Straight into my new Barclays account.
I know many of you will say told you so about keeping the HSBC account but I really did not think this would happen but turns out they still toss IVA customers aside and that was their reason for freezing my account. A letter was sent out today saying my accounts will be closed in 7 days just because I am entering an IVA. Nice one.

Happy New Year’s Eve to me.

Foggy

User avatar
Forum Expert
Posts: 31796
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Thu Dec 31, 2020 2:04 pm
It is a pity that HSBC are still as bull headed as ever and worrying that their staff are unaware of this ( your earlier 'advisor' ), but fortunate that you managed to recover the wages and open with Barclays --- still --- a dose of hassle you could well do without, especially in current times !

I, personally, would not touch HSBC with my worst enemies bargepole (let alone mine) due to their total lack of support when customers need it most.

Still, that is out of the way now --- look forward, rather than back :-)
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
69 posts Page 2 of 5
Return to “Ask IVA Forum and Industry experts”