Always check with your IP for the best advice, but personally, I cancelled any direct debit / standing order to my potential IVA creditors, as soon as I realised the IVA was viable and not least because I did not have the money
I'm afraid the next bit is uncomfortable: Until your IVA is up and running, and maybe for a couple of Months after, you are likely to get demand letters and maybe phone calls. But just explain, firmly but politely, that you have entered/are entering an IVA, and refer them to your IP, quoting your IVA reference number and you should be fine.
Having come out the other end of a completed IVA, I can tell you that it is hard, but worth it in the end, with north of £30k of debt written off in my case.
Move your DD which will continue and stop other DD. Save the money from credit card payments etc.
You may get calls and letters but just give them info about iva and out phone down. I ignored calls to br honest and saved letters. We wrote to all our loans/credit card suppliers just saying due to finsncial difficulties we have started iva proceedings, gave accountnumbers and iva number.
its not a nice time as some can be pushy but you dont need to explain anything to a call handler.
They give up evdntually.
Wehave finished our 5 years and waiting for a meeting next week to say its completed. This place is a lifesaver for info and support.
Best wishes for your iva journey.
In hindsight after reading the forum, I wish I hadn't bothered to pay anything as I would have had saved £550 over the 6weeks period from the phone call til my meeting! I paid at the start of the month when my meeting was 17th and agreed.
Kallis advised on a recent post to log into online banking and remove your phone number, which is a great idea.
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