Payments to creditors

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Aisha
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by Aisha » Fri Oct 20, 2017 3:54 pm
I have started my process of an iva i have given all my documentaion in just waiting for the proposal. In the meantime im just wondering shall i ring all my creditors and see if i should make a token payment or ask for a abit of a grace period?
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kallis3
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by kallis3 » Fri Oct 20, 2017 4:00 pm
You can do - some of them will give you a couple of weeks. I suggest if you have any online accounts you go into them and delete contact numbers.
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Foggy
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by Foggy » Fri Oct 20, 2017 4:10 pm
Your IP will inform them once the proposal has been signed. You can either head them off or wait to see who calls you. Token payments or none at all will make no difference to the outcome and it is entirely up to you.
Aisha
Posts: 25
by Aisha » Fri Oct 20, 2017 4:15 pm
Yes i have taken my contact number off the online accounts.
Im just thinking it will look bad if i just stop paying them without telling them if you know what i mean
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Foggy
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by Foggy » Fri Oct 20, 2017 4:23 pm
Aisha wrote:
Yes i have taken my contact number off the online accounts.
Im just thinking it will look bad if i just stop paying them without telling them if you know what i mean



I would guess that is what most of us did -- certainly I did.
Aisha
Posts: 25
by Aisha » Fri Oct 20, 2017 4:25 pm
So it wont look bad if i just dont tell them and just stop paying
Will it make any difference?
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kallis3
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by kallis3 » Fri Oct 20, 2017 4:28 pm
No it won't - I didn't make any at all.
Twiglet
Posts: 21
by Twiglet » Fri Oct 20, 2017 4:56 pm
I didn’t make any either!
Aisha
Posts: 25
by Aisha » Fri Oct 20, 2017 5:43 pm
Thank you for advice
ashbock123
Posts: 64
by ashbock123 » Fri Oct 20, 2017 7:01 pm
Hi I had never made any payments to mine was up too date just stopped the direct debits and my iva was approved in 4 weeks from start to finish
Aisha
Posts: 25
by Aisha » Sat Oct 21, 2017 8:42 am
I have stopped the direct debits
Just hope the iva gets approved before the bailiffs arrive
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kallis3
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by kallis3 » Sat Oct 21, 2017 9:01 am
Bailiffs are unlikely to turn up. Your creditors will be informed of your application. If Debt Collectors turn up, (not the same as a Bailiff) You do not have to answer the door or speak to them. You will find you get a fair few letters.
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Foggy
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by Foggy » Sat Oct 21, 2017 9:04 am
Any phone calls -- just tell them you are entering an IVA and they can speak to McCD if they feel so moved. Don't get into any discussion.
Aisha
Posts: 25
by Aisha » Sat Oct 21, 2017 9:54 am
Yes that is want i am going to do.
Thank you
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Michael Peoples
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by Michael Peoples » Mon Oct 23, 2017 8:09 am
Making token payments will not improve your chances of success and creditors usually put things on hold for a month once they are made aware of the IVA. However if for example you are paying a bailiff to keep them at bay it would be worth making the required payment on this debt for peace of mind.
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