Token Payments

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baldy

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Post by baldy » Thu Sep 09, 2010 2:37 pm
Hi we at the stage of getting our IVA drafted with the CCCSVA so hopefully things will move on soon. We have been making token payments(so far 1 to each creditor) but we get the impression having spoken to our different creditors it does not seem to make any difference to them! Should we carry on making them? Would they look upon us differently when it comes to creditors meeting?
Many thanks Mr B
 
 

missy80

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Post by missy80 » Thu Sep 09, 2010 2:40 pm
Hi Mr B

It doesn't make a difference to their decision at the creditor's meeting. I didn't make any token payments at all. UIt might help with holding off the phonecalls though, I'm not sure. You can start saving the money as an emergency-contingency-panic fund if you like!
 
 

kallis3

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Post by kallis3 » Thu Sep 09, 2010 2:55 pm
It makes no difference at all. I made none to mine at all.

If you do make them then it should be pro rata.

It is better to have a bit of contingency behind you and don't forget that you may need to send your first payment off round about the date of acceptance.
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.
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Shining

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Post by Shining » Thu Sep 09, 2010 3:05 pm
Hi, I agree that making token payments will have no bearing on the creditors meeting outcome.

Save yourself a little contingency as it's always needed once you've entered an IVA xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

baldy

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Post by baldy » Thu Sep 09, 2010 3:23 pm
Hey, many many thanks for the quick replys. I think thats what we will do, try and save a bit of money for a rainy day. We changed our phone number when we started this so we just get all the standard letters up to now, but we have tried to keep all the creditors informed of whats going on to be fair. Some seem to appreciate that others seem not bothered!! Hopefully we will get the draft through soon to check over. Once again many thanks.
 
 

Shining

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Post by Shining » Thu Sep 09, 2010 3:27 pm
Hopefully it won't be long before you're checking and signing the proposal and then the creditors meeting, keep in touch and let the forum know won't you? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Thu Sep 09, 2010 3:29 pm
Good luck with the proposal baldy.
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
 
 

Goosed

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Post by Goosed » Thu Sep 09, 2010 3:37 pm
Hi baldy, as the others have said it would seem paying nothing at all makes no difference come the creditors meeting. I made no payments at all for the 12 weeks it took from sending my initial consent to act to my IP, to my creditors meeting. It`s a good job too, as I`ve had a few things break down and a big garage bill in that time.
Good luck with your proposal.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".

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baldy

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Post by baldy » Sat Sep 11, 2010 8:41 am
Hi Thanks all for that. Yes we will keep you up to date with how things are going.
Baldy
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