Should I be making a payment?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1

Starsnow3

Posts: 1
Joined: Tue Jan 05, 2021 12:10 pm

Post by Starsnow3 » Tue Jan 05, 2021 1:25 pm
I signed my IVA agreement on Dec 18th and my first payment is due tomorrow (Jan 6th) yet I had a text today to say the meeting with my creditors isn’t due until next week. Surely I shouldn’t be expected to make a payment until I know whether or not the creditors have accepted? Help!

kallis3

User avatar
Forum Expert
Posts: 76527
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Jan 05, 2021 1:28 pm
Some companies do ask for a payment first but you don't have to. You should make your first payment within 28 days of acceptance. If you are unhappy then speak to your company.

Good luck for next week.
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: 32287
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Jan 05, 2021 2:35 pm
The arguement is that, by making a payment now, in time for your meeting, you will be ahead of the game and finish that little bit earlier. However, most of us waited until the IVA had been accepted first as it is easier to make a payment pretty quickly, but harder to get one 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
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”