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ryan787
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by ryan787 » Wed Jun 28, 2017 6:43 pm
Hi guys and girls I've posted on here before about my IVA which the meeting is next Wednesday I was told too make a new account which i did but like a idiot ive set the direct debits up with my new account I've been told too cancel them all .

Which is Hitachi which is due Tomorow and my credit with Lioyds tomorrow I've been told not too pay it has credit fix don't see it has Beeing beneficial and they just keep simply saying ill just be out of picky with no meaning too has my IVA meeting his next Wednesday does this make sense too anyone and does it sound like the best option too not pay Lioyds tomorrow ?
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harrysmummy78
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by harrysmummy78 » Wed Jun 28, 2017 6:53 pm
I stopped paying all of my creditors and cancelled all my DD's as soon as I contacted my IVA company and started the process, I called all of my creditors and told them I was going to be entering into an IVA and most of the calls from them stopped. Not sure if you are to late to cancel a payment due tomorrow though.
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Foggy
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by Foggy » Wed Jun 28, 2017 7:20 pm
The point is, you are insolvent --i.e you cannot pay the debt. So ...on one hand you are asking the creditors to help by agreeing to an arrangement because you are unable to pay --- on the other hand, you ARE paying !

In the long run these debts are going into default .... any payment you make now will not change that, nor will it reduce any payments you will be required to make to the IVA .. so, basically, it is money down the drain. Most of us (myself included) stopped paying all unsecured creditors once we had started the IVA process. This allowed us to build up a modest emergency fund going into the IVA. Some paid token payments, which, again, is money down the drain.
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Lisa Thomas
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by Lisa Thomas » Thu Jun 29, 2017 9:40 am
Stop paying your creditors.
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ryan787
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by ryan787 » Thu Jun 29, 2017 12:36 pm
Lisa Thomas wrote:
Stop paying your creditors.

Hi can they see that has a reason too turn you down though ?
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kallis3
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by kallis3 » Thu Jun 29, 2017 1:00 pm
No - most of us stopped paying - gives you a chance to build a small emergency fund up.
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ryan787
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by ryan787 » Thu Jun 29, 2017 2:13 pm
kallis3 wrote:
No - most of us stopped paying - gives you a chance to build a small emergency fund up.

Does it look bad if you don't pay it though has in it Beeing a reason your IVA gets rejected
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kallis3
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by kallis3 » Thu Jun 29, 2017 2:40 pm
No it doesn't it will make no difference to how they vote.
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Lisa Thomas
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by Lisa Thomas » Thu Jun 29, 2017 2:44 pm
They will understand why the payments have stopped when they get the IVA documents advising of your insolvency.
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ryan787
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by ryan787 » Thu Jun 29, 2017 3:07 pm
Lisa Thomas wrote:
They will understand why the payments have stopped when they get the IVA documents advising of your insolvency.

But I thought they said change them over too a new account but I've cancelled it all again now I'm so confused

Do you have a email which maybe you can enlighten me on things has I'm so confused and I'm getting no communication back from adviser
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Foggy
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by Foggy » Thu Jun 29, 2017 3:12 pm
Your meeting is less than a week away -- I stopped paying two months before my meeting -- they won't have even noticed by the time the meeting takes place and some may have already voted.
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kallis3
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by kallis3 » Thu Jun 29, 2017 3:42 pm
I am assuming they just suggested a new bank account for your own personal day to day banking.

Don't change over any of your creditor details across to a new account.
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ryan787
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by ryan787 » Thu Jun 29, 2017 3:50 pm
kallis3 wrote:
I am assuming they just suggested a new bank account for your own personal day to day banking.

Don't change over any of your creditor details across to a new account.

Which I did do but I have now cancelled them
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Lisa Thomas
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by Lisa Thomas » Thu Jun 29, 2017 3:52 pm
All sorted then - you have a new bank account and are stopping payments to creditors.

Best of luck with the IVA meeting.
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ryan787
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by ryan787 » Thu Jun 29, 2017 3:58 pm
Lisa Thomas wrote:
All sorted then - you have a new bank account and are stopping payments to creditors.

Best of luck with the IVA meeting.

Will they be able too see I put the direct debits into a new account and have now cancelled it again could that be a issue too be turned down ?

I don't get how credit fix are so confident they said there 97% sure I'll be accepted how can they come up with things like that .

Allso if I'm not paying can that be seen has rejection ?
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