When do I make my first IVA payment

[Sleepybunnie]

Hi everyone, I wanted to know when do I make my first IVA payment if accepted

My creditors meeting is on the 2nd September and my IP had requested that I make a payment this month, and last week we had car problems where the cable to the fuel tank is loose so it’s bumping out petrol when we switch the car on! They are going to have to order the part for the car and hopefully get it fixed which probably will cost some money and I advised my IP that I probably wouldn’t be able to pay this month but could pay next month on the 26th when I get paid and also after my Iva is approved

As the creditors meeting is on 2nd September I was hoping I could then make the first payment on the 26th Of September which would I hopefully be after they have voted yes to my Iva.

[kallis3]

I can't see you having a problem with this - explain to your IP. Payments should be made within a month after your IVA is approved. That's what I did.

[Sleepybunnie]

Thank you. Yes I have just spoke to them and they said it should not be a problem. Also they have just told me that my creditors meeting is on the 7th when they had told me it was on the 2nd, does this mean anything?

I was hoping for it to be over and done with next week as I am just so worried they can reject it and now it’s just another week of thinking and thinking and just worrying I hope this is approved and soon

[kallis3]

I don't know - may depend on whether or not they have any votes in yet or not. Try not to worry too much (easy for me to say, I know!).

[Foggy]

Could be just a mis-read twixt a 2 and a 7.

The usual maxim is payment to be made within 28 days of acceptance and even neater if it is within the calendar month, so, yes the payment schedule you have proposed is, as you now know, OK .

Best of luck with the meeting.