Little bit of a panic

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Simbel
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by Simbel » Fri Jan 15, 2010 9:23 pm
Good evening everyone, I'm in a little bit of a panic - got home from work about 10 minutes ago to find a letter from Egg saying the following:-

"we have been notified that your IVA has been approved.

Please do not use your Egg Card and if you still have your card please destroy it. (which we have on 30th December as soon as we had our approvals)

Under the terms of your credit card agreement we now require payment from you of the full amount that you owe us. The balance on your account currently £xxxxxx. We will be liaising with the appointed Insolvency Practitioner for payment of this sum. However we reserve the right to contact you regarding this matter should we require any further information.

We will be notifying the Credit Reference Agencies of your default"

Am I being really dull? how can they want full payment - we just don't have it - what do they mean?

Sorry everyone - didn't know who else to turn to, don't think I can last the weekend out thinking that I have a problem again just when I thought everything was getting back on track.

Also received a letter from our bank saying the dd for our IP can not go ahead as they are unable to set up payments after the 28th of the month. I suppose this is an easy one - I can change the date, will speak to my IP and see if it is possible to start on the 1st of Feb otherwise I will have to beg, steal or borrow (don't really want to do the last two!!) The reason we had wanted to set up the date for 28th was because husband's salary goes in on that date and we don't have enough in the account for both payments at the moment as everything had been agreed with the company for 29th January.

 

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Julie
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by Julie » Fri Jan 15, 2010 9:33 pm
Hi Simbel,

First of all never apologise for posting any worries or concerns on here! We're all here to help and support [:)]

As regards to the letter from Egg card, just send it on to your IP, they will deal with it. You are now in an IVA and they cannot demand payments, so don't worry.

As for the DD date, just ask your IP if you can change your date. With us, we ended up paying by debit card each month on a date that suited us. The money you pay doesn't go straight to creditors, so a few days shouldn't make much difference.

Hope this puts your mind at rest xx

 

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MelanieGiles
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by MelanieGiles » Fri Jan 15, 2010 9:36 pm
What a silly letter! Send it to David. He loves receiving silly letters from creditors, and as he is your IP he will be able to take this up on your behalf.

I suggest that what the letter is doing is merely serving to crystallise Egg's position with regard to the debt - ie they are confirming what their debt is and that you remain responsible for it. This is true in an IVA, but I do think that they could have worded their position a little better.

 

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Simbel
Posts: 348
by Simbel » Fri Jan 15, 2010 9:36 pm
Hi Julie - thanks for your reply. Do you think they will allow us to change the date to 1st February even though our first payment of our IVA should be made within 31 days of our meeting?

 

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Simbel
Posts: 348
by Simbel » Fri Jan 15, 2010 9:38 pm
Thanks Melanie - I'll scan it into the pc and send it by email to him on Monday morning.

 

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Julie
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by Julie » Fri Jan 15, 2010 9:39 pm
I'm sure they will Simbel, just give your IP a call and explain the circumstances.

xx

 

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Simbel
Posts: 348
by Simbel » Fri Jan 15, 2010 9:43 pm
Thanks Julie, Melanie - I'll switch off panic mode now (don't want to be this wobbly jelly thing thats gets scared at every letter that comes through the letter box - feel angry with myself for such a baby) [V]

 

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Skippy
Posts: 20717
by Skippy » Fri Jan 15, 2010 9:46 pm
If I remember rightly I had the same letter from a creditor, although I can't remember who from. There's nothing they can do, so try not to worry about it.

Regarding direct debits, I wouldn't recommend having them coming out the same day that your salary goes in if you can help it. Some banks (I think the Co-op is one) want the money in the bank the day before the DD goes out.

 

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Julie
Posts: 9503
by Julie » Fri Jan 15, 2010 9:47 pm
Hey Simbel - I lost count of the times I posted in panic [:D]

Thats the beauty of the forum, you get peice of mind, support and gain friends (albeit virtual ones [:D])

xx

 

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Simbel
Posts: 348
by Simbel » Fri Jan 15, 2010 9:51 pm
Hi Skippy - it would have worked as hubby's salary goes in 28th and they would have taken out the dd on 29th (well that was the plan anyway) - will speak to IP on monday and sort something out. Don't really want any payment issues on the first payment we are making!!

 

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Skippy
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by Skippy » Fri Jan 15, 2010 10:35 pm
I'm sure your IP will understand x

 

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kallis3
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by kallis3 » Fri Jan 15, 2010 11:24 pm
I'm sure you will be fine.

I do wonder sometimes what planet some of these creditors are on!

 

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Shining
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by Shining » Sat Jan 16, 2010 8:50 am
I think we've all had the panic letter or phone call too at some point in our journey, thank goodness for the forum to turn to, it certainly rationalises things for me x

 

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Andy1964
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by Andy1964 » Sat Jan 16, 2010 11:11 am
The letter from Egg is obviously a standard form because I have just recieved the very same in this mornings post wih identical wording, after reading the advice to simbel I think the shredder can have it for breakfast [:)]
I have also had a letter from British Gas saying that the OR nas informed them of my insolvency and they have cancelled my gas account and transferred any balance to a new account which has been set up. As the old account was in credit the new account does not require a DD payment for January so in a way they have done me a favour and saved me 80 English Pounds.
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