Token Payments whilst IVA being organised

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sallygallagher1

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Post by sallygallagher1 » Thu Aug 26, 2010 10:48 pm
Hi I think this message is really for Melanie as we are going through the IVA process at present with her company however if you wish to reply please feel free. As mentioned we are approx halfway through our IVA being set up; we have not made any token payments to our creditors as recommended however Halifax debt collection agencies are saying that they will put accounts on hold but really would expect a token payment? Do we need to pay them something or just carry on and wait until the proposal is ready etc. I believe our case has /is being reviewed by a Manager and then it will be passed to proposals for preparation. The second thing I am concerned about is my husbands MBNA CCJ that is with Drydens Lawyers and mine that is with Restons Solicitors; we have both received CCJ's that have been sent to IVA administrator but the solicitors say that they have applied to courts for a hearing for charging orders; what do we need to do if we get a hearing date? They said they would expect the hearing to be early Oct? Thanks
 
 

kallis3

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Post by kallis3 » Thu Aug 26, 2010 11:01 pm
Hi,

Mel is on holiday at the moment but hopefully Tina will pick up on this tomorrow.

If you make a token payment to Halifax, you will have to make payments to all your creditors as you cannot favour one over another.

As to the CCJs, I believe that Mel's office can delay those hearings.

I would think that your IVA would be sorted well before then.
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.
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size5

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Post by size5 » Thu Aug 26, 2010 11:22 pm
If necessary, an interim order can be applied for which effectively suspends any and all creditor action, however by the sounds of things that does not appear to be necessary at this point.

I would not concern myself unduly at this point, but if you need further reassurance then I am sure Mels team will be happy to take your call at any time.

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sallygallagher1

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Post by sallygallagher1 » Thu Aug 26, 2010 11:28 pm
Thank you for your replies. I am sure it will all be sorted before any hearings occur I just wondered what I am meant to reply to any letter we receive and I thought we might have to make token payments to them all and therefore will not send any so that it is all fair.
 
 

Shining

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Post by Shining » Fri Aug 27, 2010 6:21 am
It is a worrying time I do agree the build up to the IVA proposal, but you're in the best possible hands I can assure you of that.

I would ask Mel/Tina to take a look at the letter and I'm sure they'll either reply on your behalf or indeed advise you what to reply.

I personally didn't make a token payment to any but again that is your choice.
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 » Fri Aug 27, 2010 8:07 am
Definitely send the letter to Mel and her team. They will sort it out for you.

I made no payments either.
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
 
 

Michael Peoples

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Post by Michael Peoples » Fri Aug 27, 2010 9:36 am
I agree with the others. There is little to be concerned about and as Size5 says, your IP can get a court order stopping legal action against you if this is required.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
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If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Gettingthere

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Post by Gettingthere » Fri Aug 27, 2010 8:53 pm
I would not concern yourself with this to be honest, I did pay token amounts to the lead up to my proposal being put forward (AE were especially forceful) and one of my creditors voted against (guess who?only one of 9) and to be honest I wish I had not due to the harassment that I had after the IVA was accepted. Best to let your IP deal with it, they are well versed on such things.
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