IVA - Is it an option for me?

Nick700

Try not to worry - life's events can cause us these difficulties - the most important thing is that you are facing up to the situation and dealing with it in a mature way.

Let me know how you get on with the IVA Companies.

Nick

Beetlebug1983

Nick700 wrote: »

Try not to worry - life's events can cause us these difficulties - the most important thing is that you are facing up to the situation and dealing with it in a mature way.

Let me know how you get on with the IVA Companies.

Nick

Thank you! I will keep you updated!!

I am off tomorrow for the rest of the week, so i am going to have a good try at tackling this!!

Beetlebug

Beetlebug1983

Hello,

Update.

Well, my IVA ball is starting to roll now. My creditors meeting is due to be held on the 22nd October. I dont know if they will accept my offer or not, but I hope that they will.

Wish me luck!!

Beetlebug

Charco_2

Good luck Beetlebug - Fingers crossed for ye!

Beetlebug1983

Thank you Charco!!

Nargleblast

Good luck Beetlebug - remember your IVA company will do their utmost to sell this proposal to your creditors, as they will have put a lot of work into it and will want their money back! It's hard having to wait, but the time will pass and, all being well, you will be on the way to getting your life back!

Beetlebug1983

Thank you!! I will keep you updated on my progress!!

Beetlebug1983

Advice gratefully apperciated!!

I have now been told to cancel my standing orders to my creditors and send them a £10.00 token payment. Have sorted the letters etc and are ready to be sent tomorrow. Still a bit scared of cancelling everything though!! Aghhh.

What should I expect now from my creditors, the creditor's meeting is to be held on the 22nd and my usual monthly dmp payment goes out on the 21, but they won't get it from now on!!

Am i going to get loads of threatening calls / letters etc? Advice needed!! If so , what should I do in reply to them?

Thank you,

BB

Charco_2

You shouldn't really. On the day you were informed of your date for your creditors meeting, you creditors also got word... so they've known your DMP payments wouldn't be forthcoming anyway. Your creditors know you've applied for the IVA and will be currently looking into it (except that they pass that kind of job out to other companies to do for them).

Anyway, if the phonecalls do start all you have to do is tell them your IP is dealing with everything now, and tell them that you cannot make any payments, "thanks for noting that on my file goodbye!"

Beetlebug1983

Cheers Charco - Your are a font!!